AutoZone (NYSE:AZO) Cut to Hold at Argus

AutoZone (NYSE:AZO - Get Free Report) was downgraded by Argus from a "buy" rating to a "hold" rating in a report released on Wednesday,Briefing.com Automated Import reports.

AZO has been the topic of several other research reports. Mizuho boosted their price target on shares of AutoZone from $3,350.00 to $3,600.00 and gave the company an "outperform" rating in a research report on Wednesday, December 11th. Truist Financial boosted their price target on shares of AutoZone from $3,501.00 to $3,753.00 and gave the company a "buy" rating in a research report on Wednesday, December 11th. Evercore ISI increased their price objective on AutoZone from $3,400.00 to $3,450.00 and gave the stock an "outperform" rating in a research report on Wednesday, December 11th. Barclays raised their target price on AutoZone from $3,024.00 to $3,585.00 and gave the company an "overweight" rating in a report on Thursday, January 9th. Finally, BMO Capital Markets initiated coverage on shares of AutoZone in a research report on Friday, December 13th. They set an "outperform" rating and a $3,700.00 target price for the company. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have given a buy rating and three have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $3,450.39.

AutoZone Stock Up 0.2 %

Shares of NYSE AZO opened at $3,485.50 on Wednesday. The firm has a market cap of $58.49 billion, a PE ratio of 23.29, a price-to-earnings-growth ratio of 1.86 and a beta of 0.70. The business has a fifty day simple moving average of $3,345.35 and a two-hundred day simple moving average of $3,221.36. AutoZone has a twelve month low of $2,728.97 and a twelve month high of $3,563.57.

AutoZone (NYSE:AZO - Get Free Report) last released its earnings results on Tuesday, March 4th. The company reported $28.29 earnings per share for the quarter, missing the consensus estimate of $29.11 by ($0.82). AutoZone had a negative return on equity of 53.89% and a net margin of 14.18%. On average, research analysts expect that AutoZone will post 152.94 earnings per share for the current year.

Hedge Funds Weigh In On AutoZone

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Proficio Capital Partners LLC grew its holdings in shares of AutoZone by 482,040.2% during the fourth quarter. Proficio Capital Partners LLC now owns 419,462 shares of the company's stock worth $1,343,117,000 after buying an additional 419,375 shares in the last quarter. Norges Bank bought a new stake in AutoZone during the fourth quarter worth $834,556,000. Strategic Financial Concepts LLC bought a new position in AutoZone during the fourth quarter worth about $471,629,000. Wealthfront Advisers LLC increased its holdings in shares of AutoZone by 6,083.9% during the 4th quarter. Wealthfront Advisers LLC now owns 90,656 shares of the company's stock worth $290,281,000 after acquiring an additional 89,190 shares during the last quarter. Finally, Barclays PLC increased its holdings in shares of AutoZone by 82.6% in the fourth quarter. Barclays PLC now owns 170,216 shares of the company's stock valued at $545,033,000 after purchasing an additional 77,015 shares during the last quarter. 92.74% of the stock is owned by institutional investors and hedge funds.

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.

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