AutoZone, Inc. (NYSE:AZO) Downgraded by Wolfe Research to Underperform

AutoZone, Inc. (NYSE:AZO) was downgraded by equities researchers at Wolfe Research from a “market perform” rating to an “underperform” rating in a report issued on Monday, July 17th.

Several other equities analysts have also recently issued reports on AZO. TheStreet raised AutoZone from a “d+” rating to a “c” rating in a research note on Wednesday, June 7th. BTIG Research reaffirmed a “buy” rating and issued a $825.00 price target on shares of AutoZone in a research note on Wednesday, May 24th. CIBC reaffirmed a “buy” rating and issued a $900.00 price target on shares of AutoZone in a research note on Wednesday, May 24th. Wedbush cut AutoZone from an “outperform” rating to a “neutral” rating and reduced their price target for the stock from $660.00 to $650.00 in a research note on Tuesday, May 30th. Finally, ValuEngine cut AutoZone from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Two analysts have rated the stock with a sell rating, fourteen have issued a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. AutoZone currently has an average rating of “Hold” and an average target price of $775.91.

Shares of AutoZone (NYSE AZO) opened at 533.94 on Monday. The firm has a 50-day moving average of $528.38 and a 200-day moving average of $650.21. The company has a market capitalization of $14.97 billion, a P/E ratio of 12.33 and a beta of 0.61. AutoZone has a one year low of $491.13 and a one year high of $813.70.

AutoZone (NYSE:AZO) last posted its earnings results on Tuesday, May 23rd. The company reported $11.44 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $12.00 by $0.56. AutoZone had a net margin of 11.82% and a negative return on equity of 70.52%. The business had revenue of $2.62 billion for the quarter, compared to analysts’ expectations of $2.70 billion. During the same period last year, the firm posted $10.77 earnings per share. AutoZone’s quarterly revenue was up 1.0% on a year-over-year basis. Equities research analysts expect that AutoZone will post $43.99 EPS for the current fiscal year.

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In other AutoZone news, Director Earl G. Graves, Jr. sold 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 8th. The stock was sold at an average price of $602.50, for a total transaction of $602,500.00. Following the completion of the transaction, the director now owns 4,431 shares in the company, valued at approximately $2,669,677.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director William Andrew Mckenna purchased 300 shares of the business’s stock in a transaction on Thursday, July 13th. The shares were purchased at an average price of $507.00 per share, with a total value of $152,100.00. Following the acquisition, the director now directly owns 5,131 shares in the company, valued at $2,601,417. The disclosure for this purchase can be found here. Company insiders own 2.60% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in the stock. Alpha Windward LLC boosted its position in AutoZone by 0.8% in the first quarter. Alpha Windward LLC now owns 251 shares of the company’s stock valued at $181,000 after buying an additional 2 shares in the last quarter. Creative Planning boosted its position in AutoZone by 0.4% in the first quarter. Creative Planning now owns 1,972 shares of the company’s stock valued at $1,426,000 after buying an additional 8 shares in the last quarter. Wetherby Asset Management Inc. raised its stake in AutoZone by 1.2% in the first quarter. Wetherby Asset Management Inc. now owns 687 shares of the company’s stock valued at $497,000 after buying an additional 8 shares during the last quarter. Nippon Life Insurance Co. raised its stake in AutoZone by 0.4% in the second quarter. Nippon Life Insurance Co. now owns 2,022 shares of the company’s stock valued at $1,153,000 after buying an additional 8 shares during the last quarter. Finally, Bristlecone Advisors LLC raised its stake in AutoZone by 1.2% in the first quarter. Bristlecone Advisors LLC now owns 856 shares of the company’s stock valued at $619,000 after buying an additional 10 shares during the last quarter. Institutional investors and hedge funds own 97.11% of the company’s stock.

AutoZone Company Profile

Autozone, Inc is a retailer and distributor of automotive replacement parts and accessories in the United States. The Company operates through the Auto Parts Locations segment. The Auto Parts Locations segment is a retailer and distributor of automotive parts and accessories. As of August 27, 2016, the Company operated through 5,814 locations in the United States, Puerto Rico, Mexico and Brazil.

Analyst Recommendations for AutoZone (NYSE:AZO)

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