StockNews.com Downgrades AutoZone (NYSE:AZO) to Hold

AutoZone (NYSE:AZO) was downgraded by research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Saturday.

A number of other research firms have also recently weighed in on AZO. Oppenheimer reaffirmed a “market perform” rating and set a $2,600.00 price target on shares of AutoZone in a report on Wednesday, June 26th. Wedbush restated an “outperform” rating and issued a $3,200.00 target price on shares of AutoZone in a research note on Thursday. Evercore ISI reduced their price target on shares of AutoZone from $3,900.00 to $3,350.00 and set an “outperform” rating on the stock in a research report on Friday. Finally, Guggenheim increased their price objective on shares of AutoZone from $3,150.00 to $3,225.00 and gave the stock a “buy” rating in a report on Wednesday, June 26th. Three analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $3,129.44.

AutoZone Stock Performance

Shares of NYSE AZO opened at $3,020.66 on Friday. The business has a fifty day moving average of $3,105.66 and a two-hundred day moving average of $3,010.09. AutoZone has a 52-week low of $2,375.35 and a 52-week high of $3,256.37. The stock has a market cap of $51.60 billion, a PE ratio of 20.89, a PEG ratio of 1.45 and a beta of 0.71.

Institutional Trading of AutoZone

Institutional investors and hedge funds have recently modified their holdings of the stock. SG Americas Securities LLC raised its stake in AutoZone by 35.3% during the 1st quarter. SG Americas Securities LLC now owns 3,534 shares of the company’s stock worth $11,138,000 after buying an additional 922 shares during the period. Sei Investments Co. raised its position in shares of AutoZone by 60.7% during the first quarter. Sei Investments Co. now owns 22,315 shares of the company’s stock worth $70,326,000 after purchasing an additional 8,427 shares during the period. Oppenheimer & Co. Inc. lifted its holdings in shares of AutoZone by 12.9% during the 1st quarter. Oppenheimer & Co. Inc. now owns 3,509 shares of the company’s stock valued at $11,059,000 after purchasing an additional 401 shares in the last quarter. Parnassus Investments LLC grew its position in shares of AutoZone by 32.0% in the 4th quarter. Parnassus Investments LLC now owns 243,571 shares of the company’s stock valued at $629,780,000 after purchasing an additional 58,989 shares during the period. Finally, Peak Financial Advisors LLC bought a new stake in AutoZone during the 2nd quarter worth approximately $2,816,000. 92.74% of the stock is owned by 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.