AutoZone (NYSE:AZO) Shares Gap Down to $3,048.82

AutoZone, Inc. (NYSE:AZO)’s share price gapped down before the market opened on Tuesday . The stock had previously closed at $3,048.82, but opened at $2,919.88. AutoZone shares last traded at $2,951.16, with a volume of 37,187 shares traded.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on AZO shares. Guggenheim boosted 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. StockNews.com lowered AutoZone from a “buy” rating to a “hold” rating in a research note on Saturday. Oppenheimer reaffirmed a “market perform” rating and set a $2,600.00 price objective on shares of AutoZone in a research note on Wednesday, June 26th. Wedbush reaffirmed an “outperform” rating and issued a $3,200.00 target price on shares of AutoZone in a research note on Thursday, September 19th. Finally, Evercore ISI dropped their price target on AutoZone from $3,900.00 to $3,350.00 and set an “outperform” rating on the stock in a research report on Friday. Three research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $3,129.44.

AutoZone Stock Down 0.4 %

The firm has a market capitalization of $51.87 billion, a PE ratio of 20.38, a PEG ratio of 1.45 and a beta of 0.71. The stock’s fifty day simple moving average is $3,107.86 and its 200 day simple moving average is $3,009.58.

Institutional Investors Weigh In On AutoZone

Hedge funds and other institutional investors have recently made changes to their positions in the company. SG Americas Securities LLC raised its holdings in shares of AutoZone by 35.3% in the 1st quarter. SG Americas Securities LLC now owns 3,534 shares of the company’s stock valued at $11,138,000 after purchasing an additional 922 shares in the last quarter. Sei Investments Co. lifted its holdings in shares of AutoZone by 60.7% during the 1st quarter. Sei Investments Co. now owns 22,315 shares of the company’s stock valued at $70,326,000 after purchasing an additional 8,427 shares during the last quarter. Oppenheimer & Co. Inc. increased its position in 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 buying an additional 401 shares in the last quarter. Parnassus Investments LLC raised its stake in AutoZone by 32.0% in the fourth quarter. Parnassus Investments LLC now owns 243,571 shares of the company’s stock valued at $629,780,000 after buying an additional 58,989 shares during the last quarter. Finally, Peak Financial Advisors LLC acquired a new stake in AutoZone in the second quarter worth about $2,816,000. Hedge funds and other institutional investors own 92.74% of the company’s stock.

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.