AutoZone (AZO) Downgraded to “Neutral” at Guggenheim
Other analysts also recently issued reports about the stock. UBS reiterated a buy rating and issued a $655.00 price target (down from $725.00) on shares of AutoZone in a report on Wednesday, September 20th. Credit Suisse Group reiterated a buy rating and issued a $583.00 price target on shares of AutoZone in a report on Wednesday, September 20th. Citigroup reiterated a buy rating and issued a $700.00 price target on shares of AutoZone in a report on Wednesday, September 20th. Bank of America reiterated a buy rating and issued a $625.00 price target on shares of AutoZone in a report on Tuesday, September 5th. Finally, Oppenheimer restated a buy rating on shares of AutoZone in a report on Thursday, September 21st. Three analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. AutoZone presently has an average rating of Hold and a consensus target price of $730.70.
AutoZone (AZO) traded down $14.11 on Wednesday, hitting $698.65. 492,900 shares of the company were exchanged, compared to its average volume of 464,210. The company has a debt-to-equity ratio of -3.56, a quick ratio of 0.15 and a current ratio of 0.97. AutoZone has a 52 week low of $491.13 and a 52 week high of $813.70. The stock has a market cap of $19,595.57, a PE ratio of 15.96, a price-to-earnings-growth ratio of 1.31 and a beta of 0.72.
AutoZone (NYSE:AZO) last released its earnings results on Tuesday, December 5th. The company reported $10.00 earnings per share for the quarter, beating analysts’ consensus estimates of $9.90 by $0.10. The company had revenue of $2.59 billion for the quarter, compared to analysts’ expectations of $2.54 billion. AutoZone had a net margin of 11.66% and a negative return on equity of 77.27%. AutoZone’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $9.36 EPS. equities research analysts anticipate that AutoZone will post 46.78 EPS for the current year.
In related news, insider James C. Griffith sold 3,623 shares of the stock in a transaction on Wednesday, December 6th. The shares were sold at an average price of $698.17, for a total transaction of $2,529,469.91. Following the sale, the insider now directly owns 2,016 shares of the company’s stock, valued at $1,407,510.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director William Andrew Mckenna sold 3,000 shares of the stock in a transaction on Thursday, September 28th. The stock was sold at an average price of $584.96, for a total transaction of $1,754,880.00. Following the sale, the director now directly owns 8,131 shares in the company, valued at $4,756,309.76. The disclosure for this sale can be found here. 2.60% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. AXA boosted its holdings in AutoZone by 0.8% during the third quarter. AXA now owns 38,237 shares of the company’s stock worth $22,755,000 after buying an additional 300 shares in the last quarter. Burgundy Asset Management Ltd. lifted its holdings in AutoZone by 0.3% during the third quarter. Burgundy Asset Management Ltd. now owns 592,020 shares of the company’s stock valued at $352,317,000 after purchasing an additional 1,888 shares in the last quarter. Public Employees Retirement System of Ohio lifted its holdings in AutoZone by 3.3% during the third quarter. Public Employees Retirement System of Ohio now owns 45,781 shares of the company’s stock valued at $27,245,000 after purchasing an additional 1,483 shares in the last quarter. Gyroscope Capital Management Group LLC lifted its holdings in AutoZone by 31.6% during the third quarter. Gyroscope Capital Management Group LLC now owns 537 shares of the company’s stock valued at $320,000 after purchasing an additional 129 shares in the last quarter. Finally, IFM Investors Pty Ltd purchased a new position in AutoZone during the third quarter valued at $503,000. 98.89% of the stock is currently owned by hedge funds and other institutional investors.
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AutoZone Company Profile
Autozone, Inc is a retailer and distributor of automotive replacement parts and accessories in the United States. The Company operates through the Auto Parts Locations segment. The Auto Parts Locations segment is a retailer and distributor of automotive parts and accessories. As of August 27, 2016, the Company operated through 5,814 locations in the United States, Puerto Rico, Mexico and Brazil.
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