AutoZone (NYSE:AZO) was downgraded by equities research analysts at Guggenheim from a “buy” rating to a “neutral” rating in a report issued on Wednesday, Marketbeat reports.

Other analysts also recently issued reports about the company. Citigroup increased their price target on AutoZone to $820.00 and gave the stock a “buy” rating in a report on Wednesday. Wedbush reissued a “hold” rating and set a $580.00 price objective (down previously from $590.00) on shares of AutoZone in a research report on Wednesday, September 20th. UBS reissued a “buy” rating and set a $655.00 price objective (down previously from $725.00) on shares of AutoZone in a research report on Wednesday, September 20th. Moffett Nathanson initiated coverage on shares of AutoZone in a research report on Monday. They set a “neutral” rating on the stock. Finally, Credit Suisse Group reissued a “buy” rating and set a $583.00 price objective on shares of AutoZone in a research report on Wednesday, September 20th. Three equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. AutoZone presently has a consensus rating of “Hold” and a consensus price target of $730.70.

Shares of AutoZone (NYSE:AZO) traded down $14.11 during trading on Wednesday, reaching $698.65. The company’s stock had a trading volume of 492,912 shares, compared to its average volume of 464,209. The company has a debt-to-equity ratio of -3.56, a quick ratio of 0.15 and a current ratio of 0.97. AutoZone has a 52-week low of $491.13 and a 52-week high of $813.70. The firm has a market cap of $19,240.00, a P/E ratio of 16.11, a P/E/G ratio of 1.31 and a beta of 0.71.

AutoZone (NYSE:AZO) last issued its quarterly earnings results on Tuesday, December 5th. The company reported $10.00 earnings per share for the quarter, topping the Zacks’ consensus estimate of $9.90 by $0.10. AutoZone had a negative return on equity of 74.48% and a net margin of 11.76%. The firm had revenue of $2.59 billion during the quarter, compared to the consensus estimate of $2.54 billion. During the same period last year, the business posted $9.36 EPS. The business’s revenue was up 4.9% compared to the same quarter last year. analysts forecast that AutoZone will post 46.78 earnings per share for the current fiscal year.

In related news, Director William Andrew Mckenna sold 3,000 shares of the firm’s stock in a transaction dated Thursday, September 28th. The shares were sold at an average price of $584.96, for a total value of $1,754,880.00. Following the transaction, the director now owns 8,131 shares of the company’s stock, valued at approximately $4,756,309.76. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 2.80% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Tobam bought a new position in shares of AutoZone during the 2nd quarter worth approximately $3,912,000. Private Management Group Inc. bought a new position in shares of AutoZone during the 2nd quarter worth approximately $21,538,000. Numeric Investors LLC lifted its position in shares of AutoZone by 9.7% during the 2nd quarter. Numeric Investors LLC now owns 2,150 shares of the company’s stock worth $1,226,000 after buying an additional 190 shares in the last quarter. Aviva PLC lifted its position in shares of AutoZone by 0.6% during the 2nd quarter. Aviva PLC now owns 17,992 shares of the company’s stock worth $10,258,000 after buying an additional 100 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale lifted its position in shares of AutoZone by 35.5% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 12,904 shares of the company’s stock worth $6,759,000 after buying an additional 3,379 shares in the last quarter. 98.89% of the stock is currently owned by institutional investors and hedge funds.

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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.

Analyst Recommendations for AutoZone (NYSE:AZO)

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