AutoZone (NYSE:AZO) Rating Lowered to “Neutral” at Robert W. Baird

AutoZone (NYSE:AZO) was downgraded by stock analysts at Robert W. Baird from an “outperform” rating to a “neutral” rating in a research note issued to investors on Monday, MarketBeat Ratings reports. They currently have a $3,900.00 price objective on the stock. Robert W. Baird’s price target would suggest a potential upside of 6.48% from the stock’s previous close.

Other equities analysts have also recently issued reports about the company. Guggenheim reduced their target price on AutoZone from $4,600.00 to $4,400.00 and set a “buy” rating for the company in a research note on Wednesday, December 10th. Roth Mkm reaffirmed a “buy” rating and issued a $4,650.00 price target (down from $4,750.00) on shares of AutoZone in a report on Wednesday, December 10th. Zacks Research raised shares of AutoZone from a “strong sell” rating to a “hold” rating in a report on Monday, November 24th. Mizuho reissued a “neutral” rating and issued a $3,550.00 target price (down previously from $3,850.00) on shares of AutoZone in a research report on Monday, January 5th. Finally, Barclays set a $3,880.00 price target on AutoZone in a research note on Thursday, January 8th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $4,271.25.

AutoZone Stock Up 0.8%

Shares of AZO stock opened at $3,662.49 on Monday. AutoZone has a fifty-two week low of $3,210.72 and a fifty-two week high of $4,388.11. The firm’s 50 day moving average price is $3,541.13 and its two-hundred day moving average price is $3,846.44. The stock has a market cap of $60.69 billion, a price-to-earnings ratio of 25.54, a price-to-earnings-growth ratio of 1.73 and a beta of 0.41.

AutoZone (NYSE:AZO) last issued its quarterly earnings data on Tuesday, December 9th. The company reported $31.04 EPS for the quarter, missing analysts’ consensus estimates of $32.69 by ($1.65). AutoZone had a negative return on equity of 65.38% and a net margin of 12.78%.The company had revenue of $4.63 billion for the quarter, compared to analyst estimates of $4.64 billion. During the same quarter in the prior year, the firm earned $32.52 EPS. The company’s revenue for the quarter was up 8.2% compared to the same quarter last year. On average, equities analysts forecast that AutoZone will post 152.94 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Brian Hannasch acquired 147 shares of AutoZone stock in a transaction that occurred on Thursday, December 18th. The stock was acquired at an average price of $3,393.09 per share, for a total transaction of $498,784.23. Following the transaction, the director directly owned 962 shares of the company’s stock, valued at $3,264,152.58. This trade represents a 18.04% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Earl G. Graves, Jr. sold 250 shares of the stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $3,295.00, for a total value of $823,750.00. Following the completion of the sale, the director directly owned 4,887 shares in the company, valued at $16,102,665. This represents a 4.87% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders acquired 347 shares of company stock valued at $1,179,256 and sold 9,447 shares valued at $34,179,923. 2.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On AutoZone

Several institutional investors have recently modified their holdings of the company. Laurel Wealth Advisors LLC boosted its stake in AutoZone by 371,123.0% during the 2nd quarter. Laurel Wealth Advisors LLC now owns 935,482 shares of the company’s stock valued at $3,472,724,000 after purchasing an additional 935,230 shares during the period. Norges Bank bought a new stake in shares of AutoZone during the fourth quarter valued at approximately $939,205,000. Vontobel Holding Ltd. boosted its position in shares of AutoZone by 277.3% during the third quarter. Vontobel Holding Ltd. now owns 102,567 shares of the company’s stock worth $440,037,000 after buying an additional 75,382 shares during the period. Northwestern Mutual Wealth Management Co. grew its holdings in AutoZone by 387.1% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 77,792 shares of the company’s stock worth $263,832,000 after buying an additional 61,821 shares in the last quarter. Finally, Evelyn Partners Investment Management Services Ltd grew its holdings in AutoZone by 1,185.5% in the 2nd quarter. Evelyn Partners Investment Management Services Ltd now owns 64,685 shares of the company’s stock worth $240,126,000 after buying an additional 59,653 shares in the last quarter. Institutional investors own 92.74% of the company’s stock.

AutoZone Company Profile

AutoZone, Inc (NYSE: AZO) is a retailer and distributor of automotive replacement parts and accessories. Headquartered in Memphis, Tennessee, the company supplies a wide range of aftermarket components, maintenance items and accessories for passenger cars, light trucks and commercial vehicles. Its product assortment includes engine parts, electrical components, batteries, brakes, filters, fluids and interior and exterior accessories, supported by inventory management and logistics systems to serve retail customers and professional service providers.

AutoZone serves both do‑it‑yourself (DIY) consumers and commercial customers such as independent repair shops and service centers.