Shares of AutoZone Inc (NYSE:AZO) tanked in early trading on Wednesday after the company reported its fiscal third-quarter results.

Here are the key analyst insights:

Guggenheim Securities analyst Steven Forbes reiterated a Buy rating, while slashing the price target from $4,400 to $4,000.

DA Davidson analyst Michael Baker maintained a Buy rating and price target of $4,300.

Check out other analyst stock ratings.

Guggenheim Securities: AutoZone reported mixed results for the fiscal third quarter, with a modest revenue miss, "yet solid bottom-line beat," with EBITDA and earnings per share topping expectations by around 4.2% and 8.8%, respectively, Forbes said in a note.

While adverse weather conditions during the last two weeks of the quarter likely reduced domestic comps from 4.8% to 4.1%, the year-over-year comps in these weeks were the easiest, "implying that internal plans for the quarter might have been close to ~5.0%," he added.

There ...