Latest Stocks: ValuEngine Downgrades AutoZone, Inc. (AZO) to Hold

Latest Stocks: ValuEngine Downgrades AutoZone, Inc. (AZO) to Hold

AutoZone, Inc. (NYSE:AZO) was downgraded by equities research analysts at ValuEngine from a “buy” rating to a “hold” rating in a report issued on Friday.

A number of other research firms have also recently weighed in on AZO. Raymond James Financial, Inc. cut AutoZone from a “strong-buy” rating to a “market perform” rating in a research report on Tuesday, May 23rd. Oppenheimer Holdings Inc. set a $900.00 price objective on AutoZone and gave the stock a “buy” rating in a research report on Tuesday, May 23rd. Royal Bank of Canada decreased their price objective on AutoZone from $829.00 to $753.00 and set a “sector perform” rating for the company in a research report on Monday, May 22nd. Citigroup Inc cut AutoZone from a “strong-buy” rating to a “market perform” rating in a research report on Tuesday, May 23rd. Finally, Morgan Stanley decreased their price objective on AutoZone from $825.00 to $680.00 and set an “overweight” rating for the company in a research report on Thursday, May 25th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $814.81.

AutoZone (NYSE:AZO) opened at 617.07 on Friday. The company’s 50-day moving average price is $671.47 and its 200 day moving average price is $731.19. AutoZone has a 12 month low of $573.80 and a 12 month high of $819.54. The stock has a market capitalization of $17.37 billion, a PE ratio of 14.25 and a beta of 0.58.

AutoZone (NYSE:AZO) last announced its earnings results on Tuesday, May 23rd. The company reported $11.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $12.00 by $0.56. AutoZone had a net margin of 11.77% and a negative return on equity of 69.22%. The firm had revenue of $2.62 billion during the quarter, compared to analyst estimates of $2.70 billion. During the same period last year, the company earned $10.77 earnings per share. The firm’s revenue for the quarter was up 1.0% compared to the same quarter last year. On average, analysts forecast that AutoZone will post $44.24 earnings per share for the current fiscal year.

In related news, insider Rodney C. Halsell sold 14,300 shares of the firm’s stock in a transaction that occurred on Tuesday, March 21st. The stock was sold at an average price of $724.54, for a total value of $10,360,922.00. Following the completion of the transaction, the insider now directly owns 3,966 shares of the company’s stock, valued at approximately $2,873,525.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Earl G. Graves, Jr. sold 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 16th. The shares were sold at an average price of $714.96, for a total value of $714,960.00. Following the completion of the transaction, the director now directly owns 4,431 shares of the company’s stock, valued at $3,167,987.76. The disclosure for this sale can be found here. Company insiders own 2.60% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the stock. American Beacon Advisors Inc. purchased a new position in AutoZone during the first quarter valued at $104,000. Alpha Windward LLC increased 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 during the last quarter. Colony Group LLC purchased a new position in AutoZone during the first quarter valued at $205,000. Global X Management Co. LLC increased its position in AutoZone by 26.5% in the first quarter. Global X Management Co. LLC now owns 286 shares of the company’s stock valued at $207,000 after buying an additional 60 shares during the last quarter. Finally, Fox Run Management L.L.C. purchased a new position in AutoZone during the first quarter valued at $213,000. 96.42% of the stock is owned by hedge funds and other institutional investors. About AutoZone

Receive News & Ratings for AutoZone Inc. Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for AutoZone Inc. and related companies with MarketBeat.com’s FREE daily email newsletter.

Related posts

Leave a Comment