Oppenheimer Asset Management Inc. Lowers Stock Position in AutoZone, Inc. (NYSE:AZO)

Oppenheimer Asset Management Inc. cut its holdings in AutoZone, Inc. (NYSE:AZO) by 5.5% during the fourth quarter, Holdings Channel reports. The institutional investor owned 2,702 shares of the company’s stock after selling 158 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in AutoZone were worth $8,652,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Capital Performance Advisors LLP purchased a new stake in AutoZone in the third quarter worth about $36,000. Darwin Wealth Management LLC bought a new stake in shares of AutoZone in the 3rd quarter worth approximately $47,000. Crews Bank & Trust bought a new stake in shares of AutoZone in the 4th quarter worth approximately $61,000. McIlrath & Eck LLC grew its stake in shares of AutoZone by 25.0% in the 3rd quarter. McIlrath & Eck LLC now owns 20 shares of the company’s stock worth $63,000 after buying an additional 4 shares during the last quarter. Finally, Ashton Thomas Securities LLC bought a new position in AutoZone during the 3rd quarter valued at approximately $66,000. 92.74% of the stock is currently owned by institutional investors.

AutoZone Stock Performance

NYSE:AZO opened at $3,448.29 on Friday. The stock’s fifty day moving average is $3,332.11 and its 200 day moving average is $3,214.44. The firm has a market capitalization of $57.86 billion, a PE ratio of 23.04, a PEG ratio of 1.86 and a beta of 0.70. AutoZone, Inc. has a fifty-two week low of $2,728.97 and a fifty-two week high of $3,484.42.

AutoZone (NYSE:AZO) last released its quarterly earnings results on Tuesday, December 10th. The company reported $32.52 EPS for the quarter, missing analysts’ consensus estimates of $33.69 by ($1.17). AutoZone had a negative return on equity of 53.89% and a net margin of 14.18%. The firm had revenue of $4.28 billion for the quarter, compared to analysts’ expectations of $4.30 billion. During the same period in the prior year, the firm posted $32.55 earnings per share. AutoZone’s revenue for the quarter was up 2.1% on a year-over-year basis. Equities analysts forecast that AutoZone, Inc. will post 152.94 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have commented on AZO. Evercore ISI boosted their target price on AutoZone from $3,400.00 to $3,450.00 and gave the stock an “outperform” rating in a report on Wednesday, December 11th. Argus upped their price target on shares of AutoZone from $3,560.00 to $3,678.00 and gave the stock a “buy” rating in a research note on Thursday, January 2nd. Citigroup raised their price objective on shares of AutoZone from $3,500.00 to $3,900.00 and gave the company a “buy” rating in a research note on Wednesday, December 11th. Guggenheim lifted their target price on shares of AutoZone from $3,350.00 to $3,750.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. Finally, Wells Fargo & Company increased their price target on shares of AutoZone from $3,450.00 to $3,750.00 and gave the company an “overweight” rating in a report on Wednesday, December 11th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, sixteen have assigned a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, AutoZone presently has an average rating of “Moderate Buy” and a consensus target price of $3,429.84.

AutoZone Profile

AutoZone, Inc retails and distributes automotive replacement parts and accessories in the United States, Mexico, and Brazil. The company provides various products for cars, sport utility vehicles, vans, and light trucks, including new and remanufactured automotive hard parts, maintenance items, accessories, and non-automotive products.