AutoZone (NYSE:AZO) Trading Down 10.8%

AutoZone, Inc. (NYSE:AZO – Get Rating)’s stock price traded down 10.8% during mid-day trading on Wednesday . The company traded as low as $1,812.00 and last traded at $1,812.00. 9,517 shares changed hands during mid-day trading, a decline of 95% from the average session volume of 176,776 shares. The stock had previously closed at $2,031.87.

AZO has been the topic of a number of analyst reports. Zacks Investment Research cut AutoZone from a “strong-buy” rating to a “hold” rating and set a $2,096.00 price objective on the stock. in a research note on Tuesday, February 8th. Morgan Stanley lifted their price objective on shares of AutoZone from $2,050.00 to $2,125.00 and gave the company an “equal weight” rating in a research report on Wednesday, March 2nd. Truist Financial dropped their target price on shares of AutoZone from $2,329.00 to $2,215.00 in a report on Wednesday, March 2nd. StockNews.com began coverage on AutoZone in a research report on Thursday, March 31st. They set a “buy” rating on the stock. Finally, Citigroup boosted their target price on AutoZone from $2,210.00 to $2,250.00 in a report on Friday, May 13th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, AutoZone currently has an average rating of “Buy” and an average price target of $2,075.11.

The firm’s fifty day simple moving average is $2,042.89 and its 200 day simple moving average is $1,974.28. The stock has a market capitalization of $37.50 billion, a P/E ratio of 17.15, a price-to-earnings-growth ratio of 1.46 and a beta of 0.90.

AutoZone (NYSE:AZO – Get Rating) last announced its quarterly earnings data on Tuesday, March 1st. The company reported $22.30 EPS for the quarter, beating the consensus estimate of $17.79 by $4.51. The business had revenue of $3.37 billion during the quarter, compared to the consensus estimate of $3.16 billion. AutoZone had a net margin of 15.44% and a negative return on equity of 109.21%. The company’s revenue was up 15.8% on a year-over-year basis. During the same period in the previous year, the business earned $14.93 earnings per share. On average, analysts predict that AutoZone, Inc. will post 111.56 EPS for the current year.

In other AutoZone news, EVP Preston Frazer sold 1,500 shares of the business’s stock in a transaction on Wednesday, April 20th. The shares were sold at an average price of $2,220.00, for a total transaction of $3,330,000.00. Following the sale, the executive vice president now owns 783 shares of the company’s stock, valued at $1,738,260. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Philip B. Daniele sold 480 shares of the company’s stock in a transaction on Thursday, April 7th. The stock was sold at an average price of $2,120.00, for a total transaction of $1,017,600.00. Following the transaction, the executive vice president now owns 319 shares of the company’s stock, valued at $676,280. The disclosure for this sale can be found here. In the last quarter, insiders sold 7,682 shares of company stock worth $16,146,334. Company insiders own 2.60% of the company’s stock.

A number of large investors have recently bought and sold shares of AZO. TD Capital Management LLC increased its position in AutoZone by 11.2% in the 1st quarter. TD Capital Management LLC now owns 6,534 shares of the company’s stock valued at $13,359,000 after acquiring an additional 658 shares during the period. Sawgrass Asset Management LLC acquired a new stake in shares of AutoZone in the first quarter valued at about $21,047,000. Wealthfront Advisers LLC raised its position in shares of AutoZone by 115.0% during the first quarter. Wealthfront Advisers LLC now owns 1,645 shares of the company’s stock worth $3,363,000 after acquiring an additional 880 shares during the last quarter. Advisors Asset Management Inc. lifted its stake in shares of AutoZone by 12.6% in the first quarter. Advisors Asset Management Inc. now owns 570 shares of the company’s stock worth $1,165,000 after acquiring an additional 64 shares during the period. Finally, Lido Advisors LLC boosted its holdings in AutoZone by 22.8% in the first quarter. Lido Advisors LLC now owns 156 shares of the company’s stock valued at $318,000 after acquiring an additional 29 shares during the last quarter. Institutional investors and hedge funds own 95.97% of the company’s stock.

AutoZone Company Profile (NYSE:AZO)

AutoZone, Inc retails and distributes automotive replacement parts and accessories. The company offers 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. Its products include A/C compressors, batteries and accessories, bearings, belts and hoses, calipers, chassis, clutches, CV axles, engines, fuel pumps, fuses, ignition and lighting products, mufflers, radiators, starters and alternators, thermostats, and water pumps, as well as tire repairs.

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