AutoZone (NYSE:AZO) Rating Increased to Neutral at The Goldman Sachs Group

The Goldman Sachs Group upgraded shares of AutoZone (NYSE:AZO) from a sell rating to a neutral rating in a report issued on Tuesday morning, Marketbeat reports. They currently have $3,811.00 price target on the stock, up from their previous price target of $3,044.00.

Several other research analysts have also recently issued reports on AZO. Raymond James reiterated a “strong-buy” rating on shares of AutoZone in a report on Wednesday, March 5th. Wedbush reaffirmed an “outperform” rating and set a $3,700.00 price target on shares of AutoZone in a research note on Wednesday, March 5th. Argus cut AutoZone from a “buy” rating to a “hold” rating in a research report on Wednesday, March 5th. Mizuho upped their price objective on AutoZone from $3,600.00 to $3,740.00 and gave the company an “outperform” rating in a report on Wednesday, March 5th. Finally, Roth Capital set a $3,763.00 target price on AutoZone in a report on Wednesday, March 5th. Five equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $3,724.00.

AutoZone Price Performance

AZO opened at $3,825.79 on Tuesday. The stock’s 50 day moving average price is $3,524.84 and its 200 day moving average price is $3,297.98. The stock has a market cap of $64.20 billion, a P/E ratio of 25.56, a P/E/G ratio of 1.86 and a beta of 0.71. AutoZone has a 12 month low of $2,728.97 and a 12 month high of $3,916.81.

AutoZone (NYSE:AZO) last issued its quarterly earnings results on Tuesday, March 4th. The company reported $28.29 EPS for the quarter, missing analysts’ consensus estimates of $29.11 by ($0.82). The business had revenue of $3.95 billion for the quarter, compared to analyst estimates of $3.98 billion. AutoZone had a net margin of 14.18% and a negative return on equity of 53.89%. Equities analysts anticipate that AutoZone will post 152.94 EPS for the current year.

Insider Activity

In other news, VP Richard Craig Smith sold 2,850 shares of the firm’s stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $3,610.00, for a total transaction of $10,288,500.00. Following the completion of the sale, the vice president now directly owns 2,924 shares of the company’s stock, valued at $10,555,640. This trade represents a 49.36 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Bailey L. Childress sold 160 shares of the business’s stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $3,550.00, for a total value of $568,000.00. Following the completion of the sale, the senior vice president now directly owns 50 shares of the company’s stock, valued at approximately $177,500. The trade was a 76.19 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 6,721 shares of company stock worth $24,609,331 in the last 90 days. Company insiders own 2.10% of the company’s stock.

Institutional Trading of AutoZone

Several large investors have recently added to or reduced their stakes in the business. Headlands Technologies LLC acquired a new stake in shares of AutoZone in the 4th quarter valued at $29,000. Flagship Wealth Advisors LLC bought a new stake in shares of AutoZone during the 4th quarter worth about $32,000. Harbour Investments Inc. raised its stake in shares of AutoZone by 42.9% in the 4th quarter. Harbour Investments Inc. now owns 10 shares of the company’s stock valued at $32,000 after acquiring an additional 3 shares in the last quarter. Minot DeBlois Advisors LLC acquired a new stake in AutoZone in the 4th quarter worth approximately $45,000. Finally, Itau Unibanco Holding S.A. boosted its position in AutoZone by 750.0% during the fourth quarter. Itau Unibanco Holding S.A. now owns 17 shares of the company’s stock worth $54,000 after purchasing an additional 15 shares during the period. 92.74% of the stock is owned by institutional investors.

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.