Contravisory Investment Management Inc. Sells 9 Shares of AutoZone, Inc. (NYSE:AZO)

Contravisory Investment Management Inc. decreased its holdings in AutoZone, Inc. (NYSE:AZO) by 3.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 246 shares of the company’s stock after selling 9 shares during the period. Contravisory Investment Management Inc.’s holdings in AutoZone were worth $788,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Capital Performance Advisors LLP bought a new stake in shares of AutoZone during the 3rd quarter valued at $36,000. Carolina Wealth Advisors LLC purchased a new position in AutoZone during the 3rd quarter valued at about $47,000. Darwin Wealth Management LLC bought a new stake in shares of AutoZone during the third quarter valued at about $47,000. McIlrath & Eck LLC lifted its holdings in shares of AutoZone by 25.0% in the third quarter. McIlrath & Eck LLC now owns 20 shares of the company’s stock worth $63,000 after buying an additional 4 shares in the last quarter. Finally, Ashton Thomas Securities LLC bought a new position in shares of AutoZone in the third quarter valued at approximately $66,000. Institutional investors own 92.74% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on AZO. Roth Mkm reissued a “buy” rating and issued a $3,634.00 price target on shares of AutoZone in a report on Wednesday, October 16th. Evercore ISI lifted their target price on shares of AutoZone from $3,400.00 to $3,450.00 and gave the company an “outperform” rating in a research report on Wednesday, December 11th. Wells Fargo & Company lifted their price objective on shares of AutoZone from $3,450.00 to $3,750.00 and gave the stock an “overweight” rating in a report on Wednesday, December 11th. The Goldman Sachs Group cut AutoZone from a “buy” rating to a “sell” rating and reduced their target price for the company from $3,205.00 to $2,917.00 in a research note on Monday, October 14th. Finally, Truist Financial lifted their price target on AutoZone from $3,501.00 to $3,753.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, sixteen have issued a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat.com, AutoZone presently has a consensus rating of “Moderate Buy” and a consensus target price of $3,429.84.

AutoZone Price Performance

Shares of NYSE AZO opened at $3,207.66 on Thursday. AutoZone, Inc. has a 1 year low of $2,575.00 and a 1 year high of $3,416.71. The firm has a fifty day moving average price of $3,219.74 and a 200-day moving average price of $3,129.05. The stock has a market cap of $53.83 billion, a PE ratio of 21.43, a price-to-earnings-growth ratio of 1.73 and a beta of 0.71.

AutoZone (NYSE:AZO) last posted its quarterly earnings results on Tuesday, December 10th. The company reported $32.52 EPS for the quarter, missing analysts’ consensus estimates of $33.69 by ($1.17). AutoZone had a negative return on equity of 53.89% and a net margin of 14.18%. The business had revenue of $4.28 billion during the quarter, compared to analysts’ expectations of $4.30 billion. During the same period in the prior year, the firm posted $32.55 earnings per share. The firm’s revenue for the quarter was up 2.1% on a year-over-year basis. On average, research analysts expect that AutoZone, Inc. will post 154.29 EPS for the current year.

AutoZone Profile

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.