AutoZone (NYSE:AZO) Hits New 52-Week Low on Analyst Downgrade

AutoZone, Inc. (NYSE:AZO) hit a new 52-week low during mid-day trading on Tuesday after Jefferies Financial Group lowered their price target on the stock from $4,400.00 to $4,000.00. Jefferies Financial Group currently has a buy rating on the stock. AutoZone traded as low as $3,071.71 and last traded at $3,112.00, with a volume of 62469 shares traded. The stock had previously closed at $3,406.50.

A number of other equities analysts have also recently issued reports on the stock. DA Davidson set a $3,750.00 price target on AutoZone in a report on Wednesday. Robert W. Baird cut their price target on AutoZone from $3,900.00 to $3,600.00 and set a “neutral” rating on the stock in a report on Wednesday. Evercore reissued an “outperform” rating on shares of AutoZone in a report on Tuesday. JPMorgan Chase & Co. dropped their target price on AutoZone from $4,300.00 to $3,850.00 and set an “overweight” rating on the stock in a report on Wednesday. Finally, UBS Group set a $4,800.00 target price on AutoZone in a report on Tuesday, March 3rd. One investment 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. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $4,040.87.

Insider Transactions at AutoZone

In other AutoZone news, Director Earl G. Graves, Jr. sold 50 shares of AutoZone stock in a transaction that occurred on 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 owned 4,837 shares in the company, valued at approximately $16,826,568.64. The trade was a 1.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 2.60% of the company’s stock.

AutoZone News Summary

Here are the key news stories impacting AutoZone this week:

• Positive Sentiment: AutoZone posted quarterly EPS of $38.07, topping Wall Street estimates, and revenue rose 8.4% year over year, showing the business is still growing. AutoZone Q3 Earnings Beat Estimates on Strong Sales Growth
• Positive Sentiment: Management said commercial sales jumped 10.4% and highlighted commercial share gains plus faster store growth, suggesting core demand remains healthy. AZO Q3 Earnings Call Puts Focus on Commercial Momentum
• Positive Sentiment: Despite the pullback, several analysts still see meaningful upside and maintained bullish ratings, including Jefferies, BNP Paribas Exane, Goldman Sachs, JPMorgan, Truist, Citigroup, Roth MKM, TD Cowen and others. Jefferies adjusts price target on AutoZone
• Neutral Sentiment: Multiple firms lowered price targets after the earnings release, but most still kept buy or outperform ratings, signaling a reset in valuation rather than a complete change in outlook. Truist cuts AutoZone price target
• Negative Sentiment: The stock sold off because quarterly revenue came in a bit light versus expectations, and some reports also pointed to margin pressure and lower return-on-capital trends. Why AutoZone Stock Is Plummeting Today
• Negative Sentiment: International growth slowed, and investors are watching whether the softer late-quarter performance is just weather-related noise or a sign of broader demand moderation. AutoZone Fell Short of Wall Street’s Expectations. Should You Buy the Dip?

Hedge Funds Weigh In On AutoZone

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings 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 valued at $7,711,912,000 after purchasing an additional 26,544 shares in the last quarter. Morgan Stanley raised its position in AutoZone by 17.8% during the fourth quarter. Morgan Stanley now owns 492,794 shares of the company’s stock valued at $1,671,323,000 after buying an additional 74,555 shares during the period. Price T Rowe Associates Inc. MD raised its position in AutoZone by 1.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 387,042 shares of the company’s stock valued at $1,312,654,000 after buying an additional 7,390 shares during the period. Norges Bank acquired a new position in AutoZone during the fourth quarter valued at $939,205,000. Finally, PineStone Asset Management Inc. raised its position in AutoZone by 1.5% during the fourth quarter. PineStone Asset Management Inc. now owns 269,173 shares of the company’s stock valued at $912,900,000 after buying an additional 3,868 shares during the period. 92.74% of the stock is currently owned by hedge funds and other institutional investors.

AutoZone Stock Down 0.4%

The stock has a market capitalization of $49.70 billion, a price-to-earnings ratio of 21.12, a price-to-earnings-growth ratio of 1.58 and a beta of 0.43. The firm has a 50-day moving average of $3,438.99 and a two-hundred day moving average of $3,575.13.

AutoZone (NYSE:AZO) last posted its quarterly earnings results 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 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%.AutoZone’s quarterly revenue was up 8.4% on a year-over-year basis. During the same period in the previous year, the firm earned $35.36 earnings per share. As a group, sell-side analysts predict that AutoZone, Inc. will post 149.35 EPS for the current year.

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.