AutoZone (NYSE:AZO) Stock Rating Lowered by The Goldman Sachs Group

AutoZone (NYSE:AZO) was downgraded by stock analysts at The Goldman Sachs Group from a “buy” rating to a “sell” rating in a research note issued to investors on Monday, Marketbeat.com reports. They currently have a $2,917.00 price objective on the stock, down from their previous price objective of $3,205.00. The Goldman Sachs Group’s price target indicates a potential downside of 5.90% from the stock’s current price.

AZO has been the topic of a number of other research reports. DA Davidson restated a “neutral” rating and issued a $3,025.00 target price on shares of AutoZone in a report on Monday, September 30th. Redburn Atlantic raised shares of AutoZone to a “strong-buy” rating in a report on Tuesday, October 1st. UBS Group increased their target price on shares of AutoZone from $3,340.00 to $3,500.00 and gave the company a “buy” rating in a report on Wednesday, September 25th. Truist Financial cut their price target on shares of AutoZone from $3,394.00 to $3,341.00 and set a “buy” rating on the stock in a report on Wednesday, September 25th. Finally, Oppenheimer reiterated a “market perform” rating and issued a $2,600.00 price objective on shares of AutoZone in a research note on Wednesday, June 26th. One analyst has rated the stock with a sell rating, three have given a hold rating, thirteen have given a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, AutoZone has a consensus rating of “Moderate Buy” and a consensus price target of $3,175.75.

AutoZone Stock Down 1.7 %

Shares of AZO opened at $3,100.00 on Monday. The stock has a market cap of $52.96 billion, a P/E ratio of 21.44, a P/E/G ratio of 1.59 and a beta of 0.70. The business’s fifty day moving average is $3,131.05 and its 200 day moving average is $3,006.48. AutoZone has a 12-month low of $2,375.35 and a 12-month high of $3,256.37.

AutoZone (NYSE:AZO) last posted its earnings results on Tuesday, September 24th. The company reported $48.11 EPS for the quarter, missing the consensus estimate of $53.31 by ($5.20). AutoZone had a negative return on equity of 52.99% and a net margin of 14.40%. The business had revenue of $6.21 billion for the quarter, compared to the consensus estimate of $6.25 billion. During the same period in the previous year, the firm earned $46.46 earnings per share. The company’s revenue was up 9.0% on a year-over-year basis. On average, analysts expect that AutoZone will post 157.99 EPS for the current year.

Insider Buying and Selling at AutoZone

In related news, VP John Scott Murphy sold 1,580 shares of the stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $3,107.69, for a total transaction of $4,910,150.20. Following the sale, the vice president now owns 1,218 shares of the company’s stock, valued at approximately $3,785,166.42. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other AutoZone news, Chairman William C. Rhodes III sold 13,000 shares of the firm’s stock in a transaction on Thursday, October 10th. The shares were sold at an average price of $3,107.15, for a total value of $40,392,950.00. Following the completion of the transaction, the chairman now directly owns 13,857 shares of the company’s stock, valued at $43,055,777.55. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP John Scott Murphy sold 1,580 shares of the company’s stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $3,107.69, for a total transaction of $4,910,150.20. Following the completion of the transaction, the vice president now directly owns 1,218 shares in the company, valued at approximately $3,785,166.42. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 14,880 shares of company stock valued at $46,225,660 in the last 90 days. 2.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On AutoZone

Large investors have recently added to or reduced their stakes in the business. Boston Partners raised its holdings in shares of AutoZone by 1.7% in the 1st quarter. Boston Partners now owns 382,169 shares of the company’s stock valued at $1,202,596,000 after acquiring an additional 6,226 shares in the last quarter. PineStone Asset Management Inc. raised its stake in AutoZone by 137.6% in the second quarter. PineStone Asset Management Inc. now owns 310,043 shares of the company’s stock valued at $918,998,000 after purchasing an additional 179,543 shares in the last quarter. Nordea Investment Management AB lifted its position in AutoZone by 4.1% during the first quarter. Nordea Investment Management AB now owns 203,072 shares of the company’s stock valued at $643,641,000 after purchasing an additional 7,988 shares during the last quarter. Captrust Financial Advisors grew its stake in AutoZone by 564.2% in the 1st quarter. Captrust Financial Advisors now owns 152,091 shares of the company’s stock worth $479,338,000 after buying an additional 129,193 shares in the last quarter. Finally, Legal & General Group Plc increased its holdings in shares of AutoZone by 2.3% in the 2nd quarter. Legal & General Group Plc now owns 150,698 shares of the company’s stock worth $446,684,000 after buying an additional 3,382 shares during the last quarter. 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.