AutoZone (NYSE:AZO) Downgraded by The Goldman Sachs Group

AutoZone (NYSE:AZO) was downgraded by analysts at The Goldman Sachs Group from a “buy” rating to a “sell” rating in a research note issued to investors on Monday, FinViz reports. They presently have a $2,917.00 price objective on the stock, down from their previous price objective of $3,205.00. The Goldman Sachs Group’s price target points to a potential downside of 6.80% from the company’s current price.

AZO has been the topic of several other research reports. Oppenheimer reaffirmed a “market perform” rating and set a $2,600.00 price target on shares of AutoZone in a research report on Wednesday, June 26th. DA Davidson reiterated a “neutral” rating and set a $3,025.00 target price on shares of AutoZone in a research report on Monday, September 30th. Wedbush reissued an “outperform” rating and issued a $3,200.00 target price on shares of AutoZone in a report on Thursday, September 19th. Redburn Atlantic raised shares of AutoZone to a “strong-buy” rating in a research note on Tuesday, October 1st. Finally, Truist Financial lowered their target price on AutoZone from $3,394.00 to $3,341.00 and set a “buy” rating on the stock in a report on Wednesday, September 25th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, thirteen have given a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $3,165.75.

AutoZone Price Performance

AZO stock opened at $3,129.78 on Monday. AutoZone has a 1 year low of $2,375.35 and a 1 year high of $3,256.37. The firm has a market capitalization of $53.47 billion, a P/E ratio of 21.65, a P/E/G ratio of 1.59 and a beta of 0.70. The business’s 50-day moving average is $3,130.48 and its two-hundred day moving average is $3,006.79.

AutoZone (NYSE:AZO) last announced its quarterly earnings data on Tuesday, September 24th. The company reported $48.11 EPS for the quarter, missing analysts’ consensus estimates of $53.31 by ($5.20). The firm had revenue of $6.21 billion during the quarter, compared to analysts’ expectations of $6.25 billion. AutoZone had a net margin of 14.40% and a negative return on equity of 52.99%. The company’s revenue for the quarter was up 9.0% on a year-over-year basis. During the same period in the prior year, the company posted $46.46 earnings per share. On average, analysts expect that AutoZone will post 157.99 EPS for the current year.

Insider Buying and Selling

In related news, VP John Scott Murphy sold 1,580 shares of the stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $3,107.69, for a total transaction of $4,910,150.20. Following the completion of the sale, the vice president now directly owns 1,218 shares of the company’s stock, valued at $3,785,166.42. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, VP John Scott Murphy sold 1,580 shares of the firm’s stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $3,107.69, for a total value of $4,910,150.20. Following the completion of the transaction, the vice president now owns 1,218 shares of the company’s stock, valued at approximately $3,785,166.42. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Chairman William C. Rhodes III sold 300 shares of the business’s stock in a transaction on Thursday, October 3rd. The shares were sold at an average price of $3,075.20, for a total transaction of $922,560.00. Following the sale, the chairman now directly owns 13,857 shares in the company, valued at approximately $42,613,046.40. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 14,880 shares of company stock valued at $46,225,660 over the last quarter. Corporate insiders own 2.50% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Quent Capital LLC lifted its stake in shares of AutoZone by 4.8% in the 1st quarter. Quent Capital LLC now owns 88 shares of the company’s stock valued at $277,000 after purchasing an additional 4 shares during the last quarter. Mather Group LLC. boosted its stake in AutoZone by 1.8% in the second quarter. Mather Group LLC. now owns 224 shares of the company’s stock valued at $706,000 after acquiring an additional 4 shares during the last quarter. Conning Inc. lifted its stake in AutoZone by 4.3% in the second quarter. Conning Inc. now owns 98 shares of the company’s stock valued at $290,000 after buying an additional 4 shares during the period. Whittier Trust Co. of Nevada Inc. boosted its position in shares of AutoZone by 14.3% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 32 shares of the company’s stock worth $95,000 after purchasing an additional 4 shares in the last quarter. Finally, Brighton Jones LLC increased its holdings in shares of AutoZone by 4.1% in the second quarter. Brighton Jones LLC now owns 101 shares of the company’s stock worth $299,000 after acquiring an additional 4 shares in the last quarter. 92.74% of the stock is owned by hedge funds and other institutional investors.

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.