TD Cowen Has Lowered Expectations for AutoZone (NYSE:AZO) Stock Price

AutoZone (NYSE:AZO) had its target price reduced by investment analysts at TD Cowen from $4,250.00 to $3,700.00 in a note issued to investors on Wednesday, MarketBeat reports. The brokerage currently has a “buy” rating on the stock. TD Cowen’s target price points to a potential upside of 21.16% from the stock’s previous close.

Other research analysts have also issued research reports about the company. BMO Capital Markets cut their price target on AutoZone from $4,300.00 to $4,000.00 and set an “outperform” rating on the stock in a report on Wednesday. Morgan Stanley upped their target price on AutoZone from $4,000.00 to $4,020.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 4th. Robert W. Baird reduced their price target on shares of AutoZone from $3,900.00 to $3,600.00 and set a “neutral” rating for the company in a research report on Wednesday. JPMorgan Chase & Co. decreased their price target on shares of AutoZone from $4,300.00 to $3,850.00 and set an “overweight” rating for the company in a research note on Wednesday. Finally, Guggenheim lowered their price objective on shares of AutoZone from $4,400.00 to $4,000.00 and set a “buy” rating on the stock in a report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $4,099.83.

AutoZone Stock Performance

Shares of NYSE:AZO traded down $46.36 during midday trading on Wednesday, reaching $3,053.75. The company’s stock had a trading volume of 20,426 shares, compared to its average volume of 191,540. AutoZone has a fifty-two week low of $3,001.00 and a fifty-two week high of $4,388.11. The firm has a 50 day moving average price of $3,448.20 and a two-hundred day moving average price of $3,579.65. The firm has a market capitalization of $50.32 billion, a price-to-earnings ratio of 21.39, a PEG ratio of 1.74 and a beta of 0.43.

AutoZone (NYSE:AZO) last issued its quarterly earnings results on Tuesday, May 26th. The company reported $38.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $36.22 by $1.85. The firm 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%.The company’s revenue was up 8.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $35.36 earnings per share. As a group, research analysts anticipate that AutoZone will post 149.16 earnings per share for the current year.

Insider Buying and Selling

In other AutoZone news, Director Earl G. Graves, Jr. sold 50 shares of the business’s stock in a transaction dated Friday, April 10th. The shares were 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 in the company, 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. Corporate insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On AutoZone

Several institutional investors have recently bought and sold shares of the company. Banco Bilbao Vizcaya Argentaria S.A. lifted its holdings in AutoZone by 6.6% during the third quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 4,966 shares of the company’s stock valued at $21,315,000 after purchasing an additional 306 shares during the last quarter. Summit Global Investments increased its stake in shares of AutoZone by 132.8% in the third quarter. Summit Global Investments now owns 319 shares of the company’s stock worth $1,369,000 after purchasing an additional 182 shares in the last quarter. Numerai GP LLC raised its position in shares of AutoZone by 1,199.3% in the third quarter. Numerai GP LLC now owns 1,754 shares of the company’s stock valued at $7,525,000 after purchasing an additional 1,619 shares during the period. Foundations Investment Advisors LLC bought a new stake in shares of AutoZone in the third quarter valued at approximately $678,000. Finally, Caprock Group LLC purchased a new stake in shares of AutoZone during the 3rd quarter valued at approximately $4,049,000. Hedge funds and other institutional investors own 92.74% of the company’s stock.

Trending Headlines about AutoZone

Here are the key news stories impacting AutoZone this week:

• Positive Sentiment: AutoZone reported fiscal Q3 EPS of $38.07, ahead of consensus estimates, and revenue rose 8.4% year over year to $4.84 billion, with same-store sales up 3.9% companywide and 4.1% domestically. Article Title
• Positive Sentiment: Domestic growth and commercial expansion remained strong, and management said the repair business stayed resilient even as consumers cut back elsewhere. Article Title
• Neutral Sentiment: AutoZone announced a partnership with Google Cloud, which could support longer-term operational and digital initiatives, but it was not the main driver of the stock move. Article Title
• Neutral Sentiment: Several analysts cut price targets after the report, including BMO Capital Markets to $4,000 and Robert W. Baird to $3,600, signaling some caution but still implying upside from recent levels. Article Title
• Negative Sentiment: The stock fell sharply after the company missed revenue expectations, and multiple reports pointed to margin pressure, including a non-cash LIFO impact, as well as softer international results. Article Title

AutoZone Company Profile

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.