AutoZone (AZO) Lowered to Neutral at Guggenheim
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.
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.
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.
Receive News & Ratings for AutoZone Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AutoZone Inc. and related companies with MarketBeat.com's FREE daily email newsletter.