AutoZone, Inc. (AZO) Stock Rating Reaffirmed by Credit Suisse Group
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.
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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