BMO Capital Markets Issues Pessimistic Forecast for AutoZone (NYSE:AZO) Stock Price

AutoZone (NYSE:AZO) had its target price reduced by investment analysts at BMO Capital Markets from $4,300.00 to $4,000.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has an “outperform” rating on the stock. BMO Capital Markets’ price target would indicate a potential upside of 29.03% from the stock’s previous close.

AZO has been the topic of several other reports. Barclays raised their price objective on AutoZone from $3,800.00 to $3,900.00 and gave the company an “overweight” rating in a research note on Wednesday, March 4th. Roth Mkm reduced their price objective on AutoZone from $4,650.00 to $4,526.00 and set a “buy” rating on the stock in a research note on Wednesday, March 4th. Oppenheimer reaffirmed an “outperform” rating and issued a $4,300.00 price objective (up from $4,150.00) on shares of AutoZone in a research note on Tuesday, March 10th. Truist Financial reduced their price objective on AutoZone from $4,076.00 to $4,045.00 and set a “buy” rating on the stock in a research note on Wednesday, March 4th. Finally, Mizuho lifted their price target on AutoZone from $3,550.00 to $3,600.00 and gave the company a “neutral” rating in a research note on Thursday, March 5th. One research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $4,264.83.

AutoZone Stock Down 9.0%

NYSE:AZO opened at $3,100.16 on Wednesday. The stock’s 50-day simple moving average is $3,448.20 and its 200 day simple moving average is $3,579.65. The firm has a market capitalization of $51.08 billion, a PE ratio of 21.72, a price-to-earnings-growth ratio of 1.74 and a beta of 0.43. AutoZone has a twelve month low of $3,001.00 and a twelve month high of $4,388.11.

AutoZone (NYSE:AZO) last released its quarterly earnings data on Tuesday, May 26th. The company reported $38.07 earnings per share for the quarter, beating the consensus estimate of $36.22 by $1.85. The business had revenue of $4.84 billion for the quarter, compared to analyst estimates of $4.86 billion. AutoZone had a negative return on equity of 72.31% and a net margin of 12.47%.AutoZone’s revenue was up 8.4% compared to the same quarter last year. During the same period last year, the firm posted $35.36 earnings per share. On average, analysts anticipate that AutoZone will post 149.16 EPS for the current fiscal year.

Insider Activity at AutoZone

In related news, Director Earl G. Graves, Jr. sold 50 shares of AutoZone stock in a transaction that occurred on Friday, April 10th. The stock was sold at an average price of $3,478.72, for a total value of $173,936.00. Following the transaction, the director directly owned 4,837 shares of the company’s stock, valued at $16,826,568.64. The trade was a 1.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On AutoZone

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in shares of AutoZone by 1.5% in the third quarter. Vanguard Group Inc. now owns 1,797,548 shares of the company’s stock worth $7,711,912,000 after acquiring an additional 26,544 shares during the period. Morgan Stanley lifted its stake in shares of AutoZone by 17.8% in the fourth quarter. Morgan Stanley now owns 492,794 shares of the company’s stock worth $1,671,323,000 after acquiring an additional 74,555 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in shares of AutoZone by 1.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 387,042 shares of the company’s stock worth $1,312,654,000 after acquiring an additional 7,390 shares during the period. Norges Bank acquired a new position in shares of AutoZone in the fourth quarter worth approximately $939,205,000. Finally, PineStone Asset Management Inc. increased its holdings in AutoZone by 1.5% in the fourth quarter. PineStone Asset Management Inc. now owns 269,173 shares of the company’s stock worth $912,900,000 after purchasing an additional 3,868 shares in the last quarter. 92.74% of the stock is owned by institutional investors and hedge funds.

AutoZone News Roundup

Here are the key news stories impacting AutoZone this week:

• Positive Sentiment: AutoZone posted EPS of $38.07, topping Wall Street estimates, and sales still rose 8.4% year over year to about $4.84 billion, helped by strong domestic demand and same-store sales growth. Article Title
• Positive Sentiment: The company said repair demand remains resilient, with domestic same-store sales up and commercial growth continuing to support the business. Article Title
• Neutral Sentiment: Broader market sentiment was supportive, with the Nasdaq rallying and risk appetite improving, which may help cushion some of the selling pressure. Article Title
• Negative Sentiment: Revenue came in slightly below expectations, and multiple reports say the stock fell sharply as investors reacted to the miss despite the earnings beat. Article Title
• Negative Sentiment: Margins compressed, with commentary pointing to a non-cash LIFO headwind and weaker international performance, which raised concerns about profitability and ROIC. Article Title

About AutoZone

AutoZone, Inc (NYSE: AZO) is a retailer and distributor of automotive replacement parts and accessories. Headquartered in Memphis, Tennessee, the company supplies a wide range of aftermarket components, maintenance items and accessories for passenger cars, light trucks and commercial vehicles. Its product assortment includes engine parts, electrical components, batteries, brakes, filters, fluids and interior and exterior accessories, supported by inventory management and logistics systems to serve retail customers and professional service providers.

AutoZone serves both do‑it‑yourself (DIY) consumers and commercial customers such as independent repair shops and service centers.