AutoZone, Inc.

New York Stock Exchange
Back to all articles
Slightly Bullish +25

AutoZone (AZO) was downgraded to a Buy Rating at Citi

AI-generated analysis

📉 Citi analyst Steven Zaccone downgraded AutoZone (AZO) to a Buy rating with a new price target of $3,700.

💰 The company reported quarterly revenue of $4.27 billion and net profit of $468.86 million for the quarter ending February 14.

📉 Revenue grew year-over-year from $3.95 billion, though net profit decreased from $487.92 million in the same period last year.

⚠️ Corporate insider sentiment is negative as 67 insiders have sold shares over the past quarter.

💸 Director Earl G. Graves recently sold 50 shares for a total of $173,936.

📉 Raymond James lowered its price target to $4,000 from $4,600.

📉 DA Davidson reduced its price target to $3,750 from $4,300.

📉 Truist analyst adjusted the price target down to $3,817 from $4,045.

📉 Mizuho lowered its price target to $3,200 from $3,600.

📉 JPMorgan decreased its price target to $3,850 from $4,300.

🏆 TD Cowen maintains a Buy rating on AutoZone with analyst Max Rakhlenko.

⚖️ Robert W. Baird continues to hold a Hold rating on the stock.

📊 Citi analyst Zaccone covers the Consumer Cyclical sector including Home Depot and Lowe’s.

📈 Zaccone has a 46.33% success rate on recommended stocks according to Tipranks data.

Bullish Signals
  • Citi analyst Steven Zaccone upgraded AutoZone (AZO) to a Buy rating with a price target of $3,700.00.
  • AutoZone also received a Buy rating from TD Cowen's Max Rakhlenko in a report issued recently.
  • The company reported quarterly revenue of $4.27 billion for the quarter ending February 14, compared to $3.95 billion last year.
  • Net profit reached $468.86 million in the latest quarter, demonstrating strong profitability despite a slight decrease from the prior year's $487.92 million.
Risk Factors
  • Citi analyst Steven Zaccone downgraded AutoZone to a Buy rating with a price target of $3,700.00.
  • Raymond James lowered its price target for AutoZone from $4,600 to $4,000.
  • DA Davidson reduced its price target from $4,300 to $3,750.
  • Truist cut its price target from $4,045 to $3,817.
  • Mizuho lowered its price target significantly from $3,600 to $3,200.
  • JPMorgan reduced its price target from $4,300 to $3,850.
  • Corporate insider sentiment is negative as 67 insiders have increased their selling activity over the past quarter.
  • Director Earl G. Graves sold 50 shares for a total of $173,936.00 last month.
Full Analysis
Citi analyst Steven Zaccone downgraded AutoZone (AZO) to a Buy rating with a price target of $3,700. This follows other recent analyst actions where TD Cowen maintained a Buy rating, while Robert W. Baird held its position. The report references AutoZone's latest earnings for the quarter ending February 14, which showed revenue of $4.27 billion and net profit of $468.86 million, compared to prior year figures of $3.95 billion revenue and $487.92 million profit. Corporate insider sentiment is noted as negative due to increased selling activity among 67 insiders over the past quarter, including a recent sale by Director Earl G. Graves. Additionally, several other firms have lowered their price targets for AutoZone recently, with Raymond James adjusting its target to $4,000, DA Davidson to $3,750, Truist to $3,817, Mizuho to $3,200, and JPMorgan to $3,850.