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

Tipranks - Tipranks - Fri May 29, 6:04AM CDT

Citi analyst Steven Zaccone downgraded AutoZone to a Buy today and set a price target of $3,700.00.

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Zaccone covers the Consumer Cyclical sector, focusing on stocks such as Home Depot, AutoZone, and Lowe’s. According to TipRanks, Zaccone has an average return of 0.0% and a 46.33% success rate on recommended stocks.

In addition to Citi, AutoZone also received a Buy from TD Cowen’s Max Rakhlenko in a report issued yesterday. However, on the same day, Robert W. Baird maintained a Hold rating on AutoZone (NYSE: AZO).

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Based on AutoZone’s latest earnings release for the quarter ending February 14, the company reported a quarterly revenue of $4.27 billion and a net profit of $468.86 million. In comparison, last year the company earned a revenue of $3.95 billion and had a net profit of $487.92 million

Based on the recent corporate insider activity of 67 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of AZO in relation to earlier this year. Last month, Earl G. Graves, a Director at AZO sold 50.00 shares for a total of $173,936.00.

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