StockNews.com Downgrades AutoZone (NYSE:AZO) to Hold

StockNews.com cut shares of AutoZone (NYSE:AZO) from a buy rating to a hold rating in a research report report published on Saturday morning.

Several other research firms also recently weighed in on AZO. Wedbush reiterated an outperform rating and set a $3,200.00 price target on shares of AutoZone in a research note on Thursday, September 19th. Guggenheim upped their price objective on shares of AutoZone from $3,150.00 to $3,225.00 and gave the company a buy rating in a report on Wednesday, June 26th. Oppenheimer reissued a market perform rating and issued a $2,600.00 price target on shares of AutoZone in a research report on Wednesday, June 26th. Finally, Evercore ISI cut their price objective on shares of AutoZone from $3,900.00 to $3,350.00 and set an outperform rating for the company in a report on Friday, September 20th. Three investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, AutoZone presently has a consensus rating of Moderate Buy and an average price target of $3,129.44.

AutoZone Trading Down 0.1 %

NYSE:AZO opened at $3,046.64 on Friday. AutoZone has a 12 month low of $2,375.35 and a 12 month high of $3,256.37. The firm’s 50 day moving average is $3,109.08 and its 200 day moving average is $3,009.36. The stock has a market capitalization of $52.05 billion, a PE ratio of 21.07, a price-to-earnings-growth ratio of 1.45 and a beta of 0.71.

Hedge Funds Weigh In On AutoZone

A number of institutional investors have recently made changes to their positions in the stock. PineStone Asset Management Inc. raised its holdings in shares of AutoZone by 137.6% during the 2nd quarter. PineStone Asset Management Inc. now owns 310,043 shares of the company’s stock valued at $918,998,000 after buying an additional 179,543 shares in the last quarter. Strategic Financial Concepts LLC bought a new stake in shares of AutoZone in the 2nd quarter worth approximately $424,000. Captrust Financial Advisors boosted its stake in shares of AutoZone by 564.2% in the 1st quarter. Captrust Financial Advisors now owns 152,091 shares of the company’s stock valued at $479,338,000 after purchasing an additional 129,193 shares in the last quarter. Baillie Gifford & Co. grew its holdings in shares of AutoZone by 2,714.8% during the 2nd quarter. Baillie Gifford & Co. now owns 120,194 shares of the company’s stock valued at $356,267,000 after purchasing an additional 115,924 shares during the last quarter. Finally, Bessemer Group Inc. raised its position in AutoZone by 106.7% in the 1st quarter. Bessemer Group Inc. now owns 117,891 shares of the company’s stock worth $371,552,000 after purchasing an additional 60,852 shares during the period. 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.