AutoZone, Inc. (NYSE:AZO) had its price objective cut by analysts at Deutsche Bank AG from $800.00 to $650.00 in a research note issued to investors on Thursday. The firm presently has a “hold” rating on the stock. Deutsche Bank AG’s price objective indicates a potential upside of 5.58% from the company’s current price.

AZO has been the subject of several other research reports. Raymond James Financial, Inc. downgraded shares of AutoZone from a “strong-buy” rating to a “market perform” rating in a research note on Tuesday. Oppenheimer Holdings Inc. set a $900.00 target price on shares of AutoZone and gave the company a “buy” rating in a research note on Tuesday. Royal Bank of Canada lowered their target price on shares of AutoZone from $829.00 to $753.00 and set a “sector perform” rating for the company in a research note on Monday, May 22nd. Citigroup Inc downgraded shares of AutoZone from a “strong-buy” rating to a “market perform” rating in a research note on Tuesday. Finally, Credit Suisse Group AG set a $812.00 target price on shares of AutoZone and gave the company a “buy” rating in a research note on Wednesday, March 1st. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $835.38.

Analyst Recommendations for AutoZone (NYSE:AZO)

Shares of AutoZone (NYSE:AZO) traded up 1.36% during mid-day trading on Thursday, reaching $615.62. 785,117 shares of the company were exchanged. AutoZone has a 12 month low of $573.80 and a 12 month high of $819.54. The firm has a 50-day moving average price of $683.57 and a 200 day moving average price of $736.19. The stock has a market capitalization of $17.33 billion, a P/E ratio of 14.22 and a beta of 0.58.

AutoZone (NYSE:AZO) last posted its quarterly earnings results on Tuesday, May 23rd. The company reported $11.44 earnings per share for the quarter, missing the Zacks’ consensus estimate of $12.00 by $0.56. The business had revenue of $2.62 billion for the quarter, compared to the consensus estimate of $2.70 billion. AutoZone had a negative return on equity of 69.22% and a net margin of 11.77%. The company’s quarterly revenue was up 1.0% on a year-over-year basis. During the same period last year, the firm earned $10.77 earnings per share. Equities research analysts anticipate that AutoZone will post $44.38 EPS for the current fiscal year.

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In related news, Director Earl G. Graves, Jr. sold 1,000 shares of the stock in a transaction on Thursday, March 16th. The shares were sold at an average price of $714.96, for a total transaction of $714,960.00. Following the completion of the transaction, the director now owns 4,431 shares in the company, valued at $3,167,987.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Rodney C. Halsell sold 14,300 shares of the stock in a transaction on Tuesday, March 21st. The stock was sold at an average price of $724.54, for a total transaction of $10,360,922.00. Following the transaction, the insider now owns 3,966 shares of the company’s stock, valued at approximately $2,873,525.64. The disclosure for this sale can be found here. Insiders have sold 27,300 shares of company stock valued at $19,917,242 in the last 90 days. 2.60% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in AZO. Wells Fargo & Company MN raised its stake in AutoZone by 14.5% in the third quarter. Wells Fargo & Company MN now owns 63,437 shares of the company’s stock valued at $48,742,000 after buying an additional 8,049 shares during the period. Nippon Life Global Investors Americas Inc. raised its stake in AutoZone by 9.7% in the third quarter. Nippon Life Global Investors Americas Inc. now owns 17,590 shares of the company’s stock valued at $13,516,000 after buying an additional 1,550 shares during the period. Coconut Grove Bank raised its stake in AutoZone by 5.3% in the third quarter. Coconut Grove Bank now owns 437 shares of the company’s stock valued at $336,000 after buying an additional 22 shares during the period. Novare Capital Management LLC raised its stake in AutoZone by 3.5% in the third quarter. Novare Capital Management LLC now owns 7,820 shares of the company’s stock valued at $6,008,000 after buying an additional 268 shares during the period. Finally, Summit Asset Management LLC raised its stake in AutoZone by 0.6% in the third quarter. Summit Asset Management LLC now owns 2,093 shares of the company’s stock valued at $1,608,000 after buying an additional 13 shares during the period. Institutional investors and hedge funds own 96.42% of the company’s stock.

About AutoZone

Autozone, Inc is a retailer and distributor of automotive replacement parts and accessories in the United States. The Company operates through the Auto Parts Locations segment. The Auto Parts Locations segment is a retailer and distributor of automotive parts and accessories. As of August 27, 2016, the Company operated through 5,814 locations in the United States, Puerto Rico, Mexico and Brazil.

12 Month Chart for NYSE:AZO

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