AutoZone (NYSE:AZO) PT Lowered to $2,840.00 at The Goldman Sachs Group

AutoZone (NYSE:AZO – Get Rating) had its target price reduced by The Goldman Sachs Group from $2,899.00 to $2,840.00 in a research note issued to investors on Tuesday morning, The Fly reports.

Several other brokerages have also recently weighed in on AZO. Barclays began coverage on shares of AutoZone in a research report on Tuesday, February 7th. They set an overweight rating and a $2,663.00 price target on the stock. StockNews.com assumed coverage on shares of AutoZone in a research report on Thursday, May 18th. They issued a buy rating on the stock. JPMorgan Chase & Co. upped their target price on shares of AutoZone from $2,750.00 to $2,975.00 in a research report on Friday, May 12th. Wedbush upped their target price on shares of AutoZone from $2,600.00 to $2,750.00 in a research report on Monday. Finally, Morgan Stanley upped their target price on shares of AutoZone from $2,725.00 to $2,800.00 and gave the company an overweight rating in a research report on Wednesday, March 1st. One analyst has rated the stock with a sell rating, one has assigned a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat.com, AutoZone has a consensus rating of Moderate Buy and a consensus price target of $2,683.56.

AutoZone Stock Performance

Shares of NYSE AZO opened at $2,459.75 on Tuesday. The firm has a market cap of $45.25 billion, a PE ratio of 20.22, a PEG ratio of 1.68 and a beta of 0.68. The firm has a fifty day moving average of $2,575.67 and a 200 day moving average of $2,499.14. AutoZone has a one year low of $1,959.58 and a one year high of $2,750.00.

AutoZone (NYSE:AZO – Get Rating) last released its earnings results on Tuesday, May 23rd. The company reported $34.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $30.84 by $3.28. AutoZone had a net margin of 14.32% and a negative return on equity of 64.72%. The business had revenue of $4.09 billion during the quarter, compared to analyst estimates of $4.12 billion. During the same quarter in the prior year, the firm earned $29.03 earnings per share. The company’s revenue for the quarter was up 11.0% compared to the same quarter last year. On average, equities analysts predict that AutoZone will post 128.32 EPS for the current fiscal year.

Insider Transactions at AutoZone

In other news, VP Grant E. Mcgee sold 1,575 shares of the business’s stock in a transaction dated Monday, March 6th. The stock was sold at an average price of $2,511.63, for a total transaction of $3,955,817.25. Following the completion of the sale, the vice president now owns 246 shares in the company, valued at approximately $617,860.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other AutoZone news, VP Grant E. Mcgee sold 1,575 shares of the company’s stock in a transaction that occurred on Monday, March 6th. The stock was sold at an average price of $2,511.63, for a total value of $3,955,817.25. Following the completion of the transaction, the vice president now owns 246 shares in the company, valued at approximately $617,860.98. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP William R. Hackney sold 2,724 shares of the stock in a transaction that occurred on Wednesday, March 29th. The shares were sold at an average price of $2,394.45, for a total value of $6,522,481.80. The disclosure for this sale can be found here. In the last quarter, insiders sold 36,960 shares of company stock worth $90,128,092. 2.59% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On AutoZone

Institutional investors and hedge funds have recently made changes to their positions in the company. BlackRock Inc. increased its position in AutoZone by 0.7% in the third quarter. BlackRock Inc. now owns 1,521,550 shares of the company’s stock worth $3,259,055,000 after buying an additional 10,791 shares during the period. Envestnet Asset Management Inc. increased its position in AutoZone by 5,037.7% in the first quarter. Envestnet Asset Management Inc. now owns 1,392,892 shares of the company’s stock worth $58,264,000 after buying an additional 1,365,781 shares during the period. JPMorgan Chase & Co. increased its position in AutoZone by 4.2% in the fourth quarter. JPMorgan Chase & Co. now owns 1,204,151 shares of the company’s stock worth $2,969,654,000 after buying an additional 48,141 shares during the period. Moneta Group Investment Advisors LLC increased its position in AutoZone by 107,977.3% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 699,260 shares of the company’s stock worth $1,724,500,000 after buying an additional 698,613 shares during the period. Finally, Gateway Advisory LLC increased its position in AutoZone by 250,309.8% in the first quarter. Gateway Advisory LLC now owns 535,877 shares of the company’s stock worth $536,000 after buying an additional 535,663 shares during the period. 91.12% of the stock is owned by institutional investors and hedge funds.

About AutoZone

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AutoZone, Inc engages in the retail and distribution of automotive replacement parts and accessories. The firm offers ALLDATA, which produces, sells, and maintains diagnostic and repair information software used in the automotive repair industry and E-commerce, which includes direct sales to customers.