AutoZone (NYSE:AZO) had its price objective increased by investment analysts at Royal Bank Of Canada in a research report issued on Wednesday. The brokerage presently has a “sector perform” rating on the stock.

Several other brokerages also recently commented on AZO. Citigroup raised their target price on shares of AutoZone to $820.00 and gave the stock a “buy” rating in a report on Wednesday. Guggenheim downgraded shares of AutoZone from a “buy” rating to a “neutral” rating in a report on Wednesday. UBS restated a “buy” rating and set a $750.00 target price (down from $810.00) on shares of AutoZone in a report on Wednesday. Raymond James Financial restated a “hold” rating on shares of AutoZone in a report on Saturday. Finally, Moffett Nathanson began coverage on shares of AutoZone in a report on Monday. They set a “neutral” rating on the stock. Three equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $735.20.

Shares of AutoZone (NYSE:AZO) traded up $2.99 during mid-day trading on Wednesday, reaching $712.76. 1,225,400 shares of the company’s stock traded hands, compared to its average volume of 464,087. The company has a quick ratio of 0.15, a current ratio of 0.97 and a debt-to-equity ratio of -3.56. The firm has a market cap of $19,350.00, a P/E ratio of 16.11, a P/E/G ratio of 1.31 and a beta of 0.71. AutoZone has a 52-week low of $491.13 and a 52-week high of $813.70.

AutoZone (NYSE:AZO) last announced its earnings results on Tuesday, December 5th. The company reported $10.00 EPS for the quarter, topping the consensus estimate of $9.90 by $0.10. The firm had revenue of $2.59 billion for the quarter, compared to the consensus estimate of $2.54 billion. AutoZone had a net margin of 11.76% and a negative return on equity of 74.48%. The business’s quarterly revenue was up 4.9% on a year-over-year basis. During the same period last year, the company posted $9.36 EPS. sell-side analysts forecast that AutoZone will post 46.78 earnings per share for the current year.

In related news, Director William Andrew Mckenna sold 3,000 shares of the business’s stock in a transaction on Thursday, September 28th. The shares were sold at an average price of $584.96, for a total transaction of $1,754,880.00. Following the transaction, the director now directly owns 8,131 shares in the company, valued at $4,756,309.76. The sale was disclosed in a filing with the SEC, which is available through this link. 2.80% of the stock is owned by company insiders.

A number of institutional investors and hedge funds have recently modified their holdings of AZO. Fieldpoint Private Securities LLC acquired a new position in AutoZone during the second quarter worth $114,000. Salem Investment Counselors Inc. increased its holdings in AutoZone by 3.5% during the second quarter. Salem Investment Counselors Inc. now owns 264 shares of the company’s stock worth $151,000 after buying an additional 9 shares during the last quarter. Fuller & Thaler Asset Management Inc. acquired a new position in AutoZone during the third quarter worth $179,000. Global X Management Co. LLC increased its holdings in AutoZone by 12.9% during the second quarter. Global X Management Co. LLC now owns 323 shares of the company’s stock worth $184,000 after buying an additional 37 shares during the last quarter. Finally, Jarislowsky Fraser Ltd acquired a new position in AutoZone during the third quarter worth $202,000. Institutional investors and hedge funds own 98.89% of the company’s stock.

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About AutoZone

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.

Analyst Recommendations for AutoZone (NYSE:AZO)

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