The Goldman Sachs Group lowered shares of AutoZone (NYSE:AZO – Free Report) from a buy rating to a sell rating in a research report sent to investors on Monday morning, MarketBeat Ratings reports. The firm currently has $2,917.00 target price on the stock, down from their previous target price of $3,205.00.
Several other brokerages also recently commented on AZO. StockNews.com downgraded shares of AutoZone from a buy rating to a hold rating in a research report on Saturday, September 21st. Morgan Stanley upped their price objective on AutoZone from $3,038.00 to $3,125.00 and gave the company an overweight rating in a research report on Wednesday, September 25th. Guggenheim increased their price target on shares of AutoZone from $3,225.00 to $3,350.00 and gave the stock a buy rating in a research report on Wednesday, September 25th. Wedbush reaffirmed an outperform rating and set a $3,200.00 price objective on shares of AutoZone in a research report on Thursday, September 19th. Finally, Evercore ISI lifted their target price on shares of AutoZone from $3,300.00 to $3,350.00 and gave the company an outperform rating in a research note on Thursday, October 3rd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, thirteen have assigned a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of Moderate Buy and an average price target of $3,175.75.
View Our Latest Stock Report on AZO
AutoZone Stock Up 1.0 %
AutoZone (NYSE:AZO – Get Free Report) last issued its quarterly earnings results on Tuesday, September 24th. The company reported $48.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $53.31 by ($5.20). AutoZone had a negative return on equity of 52.99% and a net margin of 14.40%. The business had revenue of $6.21 billion during the quarter, compared to the consensus estimate of $6.25 billion. During the same quarter in the previous year, the business earned $46.46 earnings per share. The firm’s revenue was up 9.0% compared to the same quarter last year. Equities analysts anticipate that AutoZone will post 157.99 EPS for the current year.
Insider Activity at AutoZone
In other AutoZone news, Chairman William C. Rhodes III sold 13,000 shares of the stock in a transaction that occurred on Thursday, October 10th. The shares were sold at an average price of $3,107.15, for a total transaction of $40,392,950.00. Following the sale, the chairman now directly owns 13,857 shares in the company, valued at $43,055,777.55. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, VP John Scott Murphy sold 1,580 shares of the business’s stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $3,107.69, for a total transaction of $4,910,150.20. Following the completion of the transaction, the vice president now owns 1,218 shares in the company, valued at approximately $3,785,166.42. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Chairman William C. Rhodes III sold 13,000 shares of the company’s stock in a transaction that occurred on Thursday, October 10th. The shares were sold at an average price of $3,107.15, for a total value of $40,392,950.00. Following the completion of the transaction, the chairman now directly owns 13,857 shares of the company’s stock, valued at $43,055,777.55. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 14,880 shares of company stock worth $46,225,660. 2.50% of the stock is currently owned by company insiders.
Institutional Investors Weigh In On AutoZone
Several hedge funds and other institutional investors have recently bought and sold shares of AZO. Rise Advisors LLC acquired a new stake in AutoZone during the 1st quarter worth $32,000. Riverview Trust Co purchased a new position in shares of AutoZone during the 1st quarter worth approximately $41,000. Meeder Asset Management Inc. raised its holdings in shares of AutoZone by 50.0% in the second quarter. Meeder Asset Management Inc. now owns 15 shares of the company’s stock worth $44,000 after acquiring an additional 5 shares during the last quarter. E Fund Management Hong Kong Co. Ltd. acquired a new position in AutoZone in the 2nd quarter valued at about $50,000. Finally, ORG Partners LLC purchased a new position in shares of AutoZone during the second quarter valued at approximately $50,000. 92.74% of the stock is currently owned by institutional investors and hedge funds.
AutoZone Company 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.
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