Contravisory Investment Management Inc. Sells 9 Shares of AutoZone, Inc. (NYSE:AZO)

Contravisory Investment Management Inc. decreased its position in shares of AutoZone, Inc. (NYSE:AZO) by 3.5% during the fourth quarter, HoldingsChannel reports. The fund owned 246 shares of the company’s stock after selling 9 shares during the quarter. Contravisory Investment Management Inc.’s holdings in AutoZone were worth $788,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Capital Performance Advisors LLP bought a new stake in shares of AutoZone during the 3rd quarter worth approximately $36,000. Carolina Wealth Advisors LLC bought a new stake in shares of AutoZone during the third quarter valued at approximately $47,000. Darwin Wealth Management LLC purchased a new stake in shares of AutoZone in the third quarter valued at approximately $47,000. McIlrath & Eck LLC grew its stake in AutoZone by 25.0% in the third quarter. McIlrath & Eck LLC now owns 20 shares of the company’s stock worth $63,000 after purchasing an additional 4 shares in the last quarter. Finally, Ashton Thomas Securities LLC purchased a new position in AutoZone during the 3rd quarter worth $66,000. Institutional investors own 92.74% of the company’s stock.

AutoZone Stock Performance

Shares of AutoZone stock opened at $3,207.66 on Thursday. The stock has a 50 day moving average of $3,219.74 and a 200 day moving average of $3,129.05. The firm has a market capitalization of $53.83 billion, a price-to-earnings ratio of 21.43, a PEG ratio of 1.73 and a beta of 0.71. AutoZone, Inc. has a fifty-two week low of $2,575.00 and a fifty-two week high of $3,416.71.

AutoZone (NYSE:AZO) last issued its quarterly earnings data on Tuesday, December 10th. The company reported $32.52 EPS for the quarter, missing the consensus estimate of $33.69 by ($1.17). AutoZone had a negative return on equity of 53.89% and a net margin of 14.18%. The company had revenue of $4.28 billion during the quarter, compared to analyst estimates of $4.30 billion. During the same quarter in the prior year, the company posted $32.55 earnings per share. The business’s revenue was up 2.1% compared to the same quarter last year. Analysts forecast that AutoZone, Inc. will post 154.29 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on AZO shares. Guggenheim raised their price target on AutoZone from $3,350.00 to $3,750.00 and gave the company a “buy” rating in a research note on Wednesday, December 11th. Barclays raised their target price on shares of AutoZone from $3,024.00 to $3,585.00 and gave the company an “overweight” rating in a research report on Thursday, January 9th. Roth Mkm reiterated a “buy” rating and set a $3,634.00 price objective on shares of AutoZone in a research note on Wednesday, October 16th. UBS Group upped their target price on AutoZone from $3,340.00 to $3,500.00 and gave the stock a “buy” rating in a report on Wednesday, September 25th. Finally, Morgan Stanley upped their price objective on AutoZone from $3,038.00 to $3,125.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 25th. One analyst has rated the stock with a sell rating, three have issued a hold rating, sixteen have given a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $3,429.84.

About AutoZone

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.