AutoZone, Inc. (NYSE:AZO)‘s stock had its “buy” rating reiterated by stock analysts at Credit Suisse Group in a report issued on Wednesday. They presently have a $583.00 price objective on the stock. Credit Suisse Group’s target price would indicate a potential upside of 8.93% from the stock’s previous close.

A number of other equities analysts have also commented on AZO. Citigroup Inc. reaffirmed a “buy” rating and issued a $700.00 price target on shares of AutoZone in a report on Wednesday. Royal Bank Of Canada cut their price target on AutoZone from $577.00 to $571.00 and set a “sector perform” rating for the company in a report on Wednesday. Wedbush reaffirmed a “neutral” rating and issued a $580.00 price target (down from $590.00) on shares of AutoZone in a report on Wednesday. TheStreet raised AutoZone from a “d+” rating to a “c” rating in a report on Wednesday, June 7th. Finally, Zacks Investment Research raised AutoZone from a “sell” rating to a “hold” rating in a report on Wednesday, August 23rd. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. AutoZone has a consensus rating of “Hold” and an average price target of $770.91.

AutoZone (AZO) traded up 1.72% during mid-day trading on Wednesday, hitting $544.42. The stock had a trading volume of 388,017 shares. AutoZone has a 12 month low of $491.13 and a 12 month high of $813.70. The firm’s 50-day moving average is $534.42 and its 200 day moving average is $611.55. The company has a market cap of $15.26 billion, a price-to-earnings ratio of 12.58 and a beta of 0.62.

AutoZone (NYSE:AZO) last released its earnings results on Tuesday, September 19th. The company reported $15.18 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $15.11 by $0.07. AutoZone had a negative return on equity of 70.52% and a net margin of 11.82%. The business had revenue of $3.51 billion during the quarter, compared to the consensus estimate of $3.49 billion. During the same period last year, the business posted $14.30 earnings per share. The business’s revenue for the quarter was up 3.3% on a year-over-year basis. Equities analysts anticipate that AutoZone will post $47.26 EPS for the current fiscal year.

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In related news, VP William T. Giles sold 10,000 shares of the business’s stock in a transaction dated Tuesday, June 27th. The stock was sold at an average price of $581.10, for a total transaction of $5,811,000.00. Following the transaction, the vice president now owns 18,500 shares in the company, valued at approximately $10,750,350. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director William Andrew Mckenna purchased 300 shares of AutoZone stock in a transaction that occurred on Thursday, July 13th. The shares were acquired at an average price of $507.00 per share, for a total transaction of $152,100.00. Following the acquisition, the director now owns 5,131 shares in the company, valued at $2,601,417. The disclosure for this purchase can be found here. 2.60% of the stock is owned by insiders.

A number of large investors have recently made changes to their positions in AZO. American Beacon Advisors Inc. purchased a new position in AutoZone during the 1st quarter valued at about $104,000. Fieldpoint Private Securities LLC purchased a new position in AutoZone during the 2nd quarter valued at about $114,000. Alpha Windward LLC increased its holdings in AutoZone by 3.2% during the 2nd quarter. Alpha Windward LLC now owns 259 shares of the company’s stock valued at $148,000 after purchasing an additional 8 shares during the period. Salem Investment Counselors Inc. increased its holdings in AutoZone by 3.5% during the 2nd quarter. Salem Investment Counselors Inc. now owns 264 shares of the company’s stock valued at $151,000 after purchasing an additional 9 shares during the period. Finally, Global X Management Co. LLC increased its holdings in AutoZone by 12.9% during the 2nd quarter. Global X Management Co. LLC now owns 323 shares of the company’s stock valued at $184,000 after purchasing an additional 37 shares during the period. Institutional investors own 96.08% of the company’s stock.

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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