AutoZone (NYSE:AZO) Downgraded by StockNews.com to Hold

StockNews.com cut shares of AutoZone (NYSE:AZO) from a buy rating to a hold rating in a report published on Saturday morning.

Several other brokerages have also recently issued reports on AZO. Guggenheim boosted their price target on shares of AutoZone from $3,150.00 to $3,225.00 and gave the company a buy rating in a research report on Wednesday, June 26th. Wedbush restated an outperform rating and issued a $3,200.00 target price on shares of AutoZone in a research note on Thursday, September 19th. Oppenheimer restated a market perform rating and set a $2,600.00 price target on shares of AutoZone in a research report on Wednesday, June 26th. Finally, Evercore ISI decreased their price objective on AutoZone from $3,900.00 to $3,350.00 and set an outperform rating for the company in a report on Friday, September 20th. Three analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, AutoZone currently has an average rating of Moderate Buy and a consensus price target of $3,129.44.

AutoZone Stock Down 0.1 %

Shares of AutoZone stock opened at $3,046.64 on Friday. The company’s fifty day simple moving average is $3,109.08 and its two-hundred day simple moving average is $3,009.36. AutoZone has a 12-month low of $2,375.35 and a 12-month high of $3,256.37. The firm has a market cap of $52.05 billion, a PE ratio of 21.07, a price-to-earnings-growth ratio of 1.45 and a beta of 0.71.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of AZO. Clearbridge Investments LLC raised its holdings in shares of AutoZone by 3.0% during the fourth quarter. Clearbridge Investments LLC now owns 6,179 shares of the company’s stock valued at $15,976,000 after purchasing an additional 179 shares during the last quarter. D.A. Davidson & CO. raised its stake in AutoZone by 27.3% during the 4th quarter. D.A. Davidson & CO. now owns 807 shares of the company’s stock valued at $2,087,000 after buying an additional 173 shares during the last quarter. Assetmark Inc. lifted its holdings in shares of AutoZone by 10.0% during the 4th quarter. Assetmark Inc. now owns 1,459 shares of the company’s stock valued at $3,772,000 after buying an additional 133 shares during the period. SageView Advisory Group LLC purchased a new position in shares of AutoZone in the 4th quarter worth $284,000. Finally, Team Hewins LLC bought a new stake in shares of AutoZone in the fourth quarter worth $290,000. 92.74% of the stock is owned by institutional investors.

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.