AutoZone (NYSE:AZO) Stock Price Down 4.5%

AutoZone, Inc. (NYSE:AZO)’s stock price fell 4.5% on Monday . The stock traded as low as $2,806.51 and last traded at $2,831.69. 45,146 shares were traded during trading, a decline of 71% from the average session volume of 153,106 shares. The stock had previously closed at $2,964.10.

Analyst Ratings Changes

Several brokerages have weighed in on AZO. Guggenheim lifted their price target on shares of AutoZone from $3,150.00 to $3,225.00 and gave the company a “buy” rating in a report on Wednesday, June 26th. Oppenheimer reissued a “market perform” rating and issued a $2,600.00 target price on shares of AutoZone in a report on Wednesday, June 26th. UBS Group lowered their target price on shares of AutoZone from $3,465.00 to $3,340.00 and set a “buy” rating on the stock in a report on Wednesday, May 22nd. Morgan Stanley lowered their target price on shares of AutoZone from $3,100.00 to $3,038.00 and set an “overweight” rating on the stock in a report on Wednesday, May 22nd. Finally, Wedbush lowered their target price on shares of AutoZone from $3,400.00 to $3,200.00 and set an “outperform” rating on the stock in a report on Wednesday, May 22nd. Three investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $3,112.88.

AutoZone Price Performance

The stock’s fifty day moving average price is $2,894.37 and its 200 day moving average price is $2,865.58. The stock has a market capitalization of $48.35 billion, a P/E ratio of 19.60, a PEG ratio of 1.49 and a beta of 0.71.

AutoZone (NYSE:AZO) last posted its quarterly earnings results on Tuesday, May 21st. The company reported $36.69 EPS for the quarter, topping analysts’ consensus estimates of $35.67 by $1.02. AutoZone had a net margin of 14.60% and a negative return on equity of 54.58%. The firm had revenue of $4.24 billion for the quarter, compared to analysts’ expectations of $4.29 billion. During the same period in the prior year, the business posted $34.12 earnings per share. The business’s revenue for the quarter was up 3.6% on a year-over-year basis. On average, sell-side analysts expect that AutoZone, Inc. will post 151.57 earnings per share for the current year.

Insider Buying and Selling

In other AutoZone news, VP Jenna M. Bedsole acquired 36 shares of the stock in a transaction that occurred on Thursday, May 23rd. The stock was bought at an average cost of $2,757.10 per share, with a total value of $99,255.60. Following the completion of the purchase, the vice president now directly owns 36 shares in the company, valued at $99,255.60. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 2.50% of the stock is owned by insiders.

Institutional Trading of AutoZone

Several hedge funds have recently modified their holdings of the company. HM Payson & Co. lifted its position in shares of AutoZone by 6.9% during the first quarter. HM Payson & Co. now owns 24,266 shares of the company’s stock valued at $76,478,000 after buying an additional 1,566 shares during the last quarter. DekaBank Deutsche Girozentrale lifted its position in shares of AutoZone by 1.2% during the first quarter. DekaBank Deutsche Girozentrale now owns 15,447 shares of the company’s stock valued at $49,257,000 after buying an additional 189 shares during the last quarter. Boston Partners lifted its position in shares of AutoZone by 1.7% during the first quarter. Boston Partners now owns 382,169 shares of the company’s stock valued at $1,202,596,000 after buying an additional 6,226 shares during the last quarter. Cetera Advisors LLC lifted its position in shares of AutoZone by 9.8% during the first quarter. Cetera Advisors LLC now owns 2,201 shares of the company’s stock valued at $6,937,000 after buying an additional 196 shares during the last quarter. Finally, Cetera Investment Advisers lifted its position in shares of AutoZone by 311.3% during the first quarter. Cetera Investment Advisers now owns 5,803 shares of the company’s stock valued at $18,289,000 after buying an additional 4,392 shares during the last quarter. 92.74% of the stock is owned by hedge funds and other 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.