ValuEngine downgraded shares of AutoZone, Inc. (NYSE:AZO) from a buy rating to a hold rating in a research report sent to investors on Friday.

Several other equities analysts have also recently commented on the stock. Credit Suisse Group AG set a $812.00 target price on shares of AutoZone and gave the stock a buy rating in a research report on Wednesday, March 1st. Jefferies Group LLC reissued a hold rating and set a $810.00 target price on shares of AutoZone in a research report on Tuesday, April 18th. BTIG Research reissued a buy rating and set a $900.00 target price on shares of AutoZone in a research report on Wednesday, February 22nd. Goldman Sachs Group Inc raised shares of AutoZone from a neutral rating to a buy rating and lifted their target price for the stock from $615.62 to $662.00 in a research report on Tuesday, May 30th. They noted that the move was a valuation call. Finally, Royal Bank of Canada dropped their target price on shares of AutoZone from $829.00 to $753.00 and set a sector perform rating on the stock in a research report on Monday, May 22nd. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. AutoZone has an average rating of Hold and an average target price of $814.81.

Analyst Recommendations for AutoZone (NYSE:AZO)

AutoZone (NYSE AZO) traded down 0.25% during mid-day trading on Friday, reaching $620.14. The company had a trading volume of 277,060 shares. The stock has a 50 day moving average price of $673.07 and a 200 day moving average price of $732.58. AutoZone has a one year low of $573.80 and a one year high of $819.54. The company has a market capitalization of $17.46 billion, a P/E ratio of 14.32 and a beta of 0.58.

AutoZone (NYSE:AZO) last released its quarterly 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. The company had revenue of $2.62 billion for the quarter, compared to analyst estimates of $2.70 billion. AutoZone had a net margin of 11.77% and a negative return on equity of 69.22%. AutoZone’s revenue for the quarter was up 1.0% on a year-over-year basis. During the same quarter last year, the firm posted $10.77 EPS. On average, equities analysts expect that AutoZone will post $44.27 earnings per share for the current fiscal year.

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In related news, Director Earl G. Graves, Jr. sold 1,000 shares of the company’s stock in a transaction 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 in the company, valued at $3,167,987.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Rodney C. Halsell sold 14,300 shares of the company’s stock in a transaction on Tuesday, March 21st. The stock was sold at an average price of $724.54, for a total transaction of $10,360,922.00. Following the completion of the transaction, the insider now owns 3,966 shares of the company’s stock, valued at $2,873,525.64. The disclosure for this sale can be found here. 2.60% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in AZO. American Beacon Advisors Inc. bought a new position in shares of AutoZone during the first quarter valued at about $104,000. Alpha Windward LLC raised its position in shares of 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 period. Colony Group LLC bought a new position in shares of AutoZone during the first quarter valued at about $205,000. Global X Management Co. LLC raised its position in shares of 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 period. Finally, Fox Run Management L.L.C. bought a new position in shares of AutoZone during the first quarter valued at about $213,000. Institutional investors own 96.42% 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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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