AutoZone (NYSE:AZO) Stock Price Down 4.5%

AutoZone, Inc. (NYSE:AZO) shares fell 4.5% on Monday . The stock traded as low as $2,806.51 and last traded at $2,831.69. 45,146 shares changed hands during trading, a decline of 71% from the average session volume of 153,106 shares. The stock had previously closed at $2,964.10.

Analyst Ratings Changes

Several research firms have recently weighed in on AZO. Barclays decreased their price objective on shares of AutoZone from $3,100.00 to $3,024.00 and set an “overweight” rating for the company in a research report on Thursday, May 23rd. Morgan Stanley decreased their price objective on shares of AutoZone from $3,100.00 to $3,038.00 and set an “overweight” rating for the company in a research report on Wednesday, May 22nd. Truist Financial decreased their price objective on shares of AutoZone from $3,523.00 to $3,394.00 and set a “buy” rating for the company in a research report on Wednesday, May 22nd. Oppenheimer reiterated a “market perform” rating and set a $2,600.00 price objective on shares of AutoZone in a research report on Wednesday, June 26th. Finally, Guggenheim raised their price target 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. Three investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $3,112.88.

AutoZone Stock Down 4.5 %

The business’s 50-day moving average is $2,894.37 and its two-hundred day moving average is $2,865.58. The company has a market capitalization of $48.35 billion, a P/E ratio of 19.60, a price-to-earnings-growth ratio of 1.49 and a beta of 0.71.

AutoZone (NYSE:AZO) last released its quarterly earnings results on Tuesday, May 21st. The company reported $36.69 earnings per share for the quarter, beating analysts’ consensus estimates of $35.67 by $1.02. AutoZone had a net margin of 14.60% and a negative return on equity of 54.58%. The company had revenue of $4.24 billion for the quarter, compared to analyst estimates of $4.29 billion. During the same period last year, the firm earned $34.12 earnings per share. The firm’s revenue was up 3.6% on a year-over-year basis. Analysts predict that AutoZone, Inc. will post 151.57 EPS for the current year.

Insiders Place Their Bets

In related news, VP Jenna M. Bedsole acquired 36 shares of the stock in a transaction on Thursday, May 23rd. The shares were acquired at an average price of $2,757.10 per share, with a total value of $99,255.60. Following the completion of the transaction, the vice president now owns 36 shares in the company, valued at approximately $99,255.60. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 2.50% of the company’s stock.

Institutional Trading of AutoZone

Several hedge funds and other institutional investors have recently modified their holdings of the business. Hohimer Wealth Management LLC grew its stake in AutoZone by 1.1% during the third quarter. Hohimer Wealth Management LLC now owns 361 shares of the company’s stock valued at $917,000 after acquiring an additional 4 shares in the last quarter. Summit Trail Advisors LLC grew its stake in AutoZone by 3.8% during the fourth quarter. Summit Trail Advisors LLC now owns 110 shares of the company’s stock valued at $283,000 after acquiring an additional 4 shares in the last quarter. Guardian Capital LP grew its stake in AutoZone by 1.3% during the fourth quarter. Guardian Capital LP now owns 301 shares of the company’s stock valued at $778,000 after acquiring an additional 4 shares in the last quarter. Quent Capital LLC grew its stake in AutoZone by 4.8% during the first quarter. Quent Capital LLC now owns 88 shares of the company’s stock valued at $277,000 after acquiring an additional 4 shares in the last quarter. Finally, TriaGen Wealth Management LLC grew its stake in AutoZone by 3.9% during the fourth quarter. TriaGen Wealth Management LLC now owns 133 shares of the company’s stock valued at $344,000 after acquiring an additional 5 shares in 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.