Robert W. Baird Issues Pessimistic Forecast for AutoZone (NYSE:AZO) Stock Price

AutoZone (NYSE:AZO) had its target price lowered by equities researchers at Robert W. Baird from $3,900.00 to $3,600.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Robert W. Baird’s target price points to a potential upside of 16.12% from the company’s previous close.

A number of other equities analysts have also recently commented on the company. Argus upgraded AutoZone from a “hold” rating to a “buy” rating and set a $4,325.00 price target for the company in a report on Monday, March 9th. Citigroup lifted their price target on AutoZone from $4,200.00 to $4,300.00 and gave the stock a “buy” rating in a report on Wednesday, March 4th. Morgan Stanley lifted their price target on AutoZone from $4,000.00 to $4,020.00 and gave the stock an “overweight” rating in a report on Wednesday, March 4th. Oppenheimer reiterated an “outperform” rating and set a $4,300.00 price target (up from $4,150.00) on shares of AutoZone in a report on Tuesday, March 10th. Finally, Evercore reiterated an “outperform” rating on shares of AutoZone in a report on Tuesday. One research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, AutoZone currently has a consensus rating of “Moderate Buy” and a consensus target price of $4,277.87.

AutoZone Price Performance

Shares of NYSE AZO opened at $3,100.16 on Wednesday. The stock has a market capitalization of $51.08 billion, a price-to-earnings ratio of 21.72, a PEG ratio of 1.74 and a beta of 0.43. The business has a 50-day moving average of $3,448.20 and a 200-day moving average of $3,579.65. AutoZone has a fifty-two week low of $3,001.00 and a fifty-two week high of $4,388.11.

AutoZone (NYSE:AZO) last announced its quarterly earnings data on Tuesday, May 26th. The company reported $38.07 earnings per share for the quarter, beating the consensus estimate of $36.22 by $1.85. The company had revenue of $4.84 billion during the quarter, compared to analysts’ expectations of $4.86 billion. AutoZone had a negative return on equity of 72.31% and a net margin of 12.47%.AutoZone’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same quarter last year, the company earned $35.36 EPS. On average, sell-side analysts expect that AutoZone will post 149.16 EPS for the current year.

Insider Transactions at AutoZone

In other AutoZone news, Director Earl G. Graves, Jr. sold 50 shares of the firm’s stock in a transaction that occurred on Friday, April 10th. The shares were sold at an average price of $3,478.72, for a total transaction of $173,936.00. Following the completion of the sale, the director directly owned 4,837 shares in the company, valued at $16,826,568.64. This trade represents a 1.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 2.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On AutoZone

Hedge funds have recently bought and sold shares of the stock. Raleigh Capital Management Inc. acquired a new stake in AutoZone during the third quarter worth approximately $26,000. Turning Point Benefit Group Inc. acquired a new stake in AutoZone during the third quarter worth approximately $25,000. Torren Management LLC acquired a new stake in AutoZone during the fourth quarter worth approximately $27,000. Transamerica Financial Advisors LLC lifted its position in AutoZone by 100.0% during the fourth quarter. Transamerica Financial Advisors LLC now owns 8 shares of the company’s stock worth $28,000 after acquiring an additional 4 shares during the last quarter. Finally, MCF Advisors LLC lifted its position in AutoZone by 50.0% during the fourth quarter. MCF Advisors LLC now owns 9 shares of the company’s stock worth $31,000 after acquiring an additional 3 shares during the last quarter. 92.74% of the stock is currently owned by institutional investors and hedge funds.

AutoZone News Summary

Here are the key news stories impacting AutoZone this week:

• Positive Sentiment: AutoZone posted EPS of $38.07, topping Wall Street estimates, and sales still rose 8.4% year over year to about $4.84 billion, helped by strong domestic demand and same-store sales growth. Article Title
• Positive Sentiment: The company said repair demand remains resilient, with domestic same-store sales up and commercial growth continuing to support the business. Article Title
• Neutral Sentiment: Broader market sentiment was supportive, with the Nasdaq rallying and risk appetite improving, which may help cushion some of the selling pressure. Article Title
• Negative Sentiment: Revenue came in slightly below expectations, and multiple reports say the stock fell sharply as investors reacted to the miss despite the earnings beat. Article Title
• Negative Sentiment: Margins compressed, with commentary pointing to a non-cash LIFO headwind and weaker international performance, which raised concerns about profitability and ROIC. Article Title

AutoZone Company Profile

AutoZone, Inc (NYSE: AZO) is a retailer and distributor of automotive replacement parts and accessories. Headquartered in Memphis, Tennessee, the company supplies a wide range of aftermarket components, maintenance items and accessories for passenger cars, light trucks and commercial vehicles. Its product assortment includes engine parts, electrical components, batteries, brakes, filters, fluids and interior and exterior accessories, supported by inventory management and logistics systems to serve retail customers and professional service providers.

AutoZone serves both do‑it‑yourself (DIY) consumers and commercial customers such as independent repair shops and service centers.