AutoZone, Inc. (NYSE:AZO) Rating Reiterated by Credit Suisse Group
AutoZone, Inc. (NYSE:AZO)‘s stock had its “outperform” rating reissued by investment analysts at Credit Suisse Group in a research note issued to investors on Monday, The Fly reports. They presently have a $583.00 price target on the stock, down from their previous price target of $658.00. Credit Suisse Group’s price objective suggests a potential upside of 15.15% from the company’s current price.
Several other equities research analysts have also recently weighed in on AZO. Cleveland Research cut shares of AutoZone from a “buy” rating to a “neutral” rating in a research report on Monday, April 3rd. Jefferies Group LLC reaffirmed a “hold” rating and set a $810.00 price objective on shares of AutoZone in a research report on Tuesday, April 18th. Royal Bank Of Canada cut their price objective on shares of AutoZone from $829.00 to $753.00 and set a “sector perform” rating for the company in a research report on Monday, May 22nd. Citigroup Inc. cut shares of AutoZone from a “strong-buy” rating to a “market perform” rating in a research report on Tuesday, May 23rd. Finally, Raymond James Financial, Inc. downgraded AutoZone from a “strong-buy” rating to a “market perform” rating in a research note on Tuesday, May 23rd. Fourteen research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $780.26.
Shares of AutoZone (AZO) opened at 506.31 on Monday. The firm has a 50-day moving average of $615.04 and a 200-day moving average of $706.75. The company has a market capitalization of $14.19 billion, a P/E ratio of 11.70 and a beta of 0.62. AutoZone has a one year low of $492.02 and a one year high of $818.00.
AutoZone (NYSE:AZO) last announced its earnings results on Tuesday, May 23rd. The company reported $11.44 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $12.00 by $0.56. AutoZone had a net margin of 11.82% and a negative return on equity of 70.52%. The business had revenue of $2.62 billion during the quarter, compared to the consensus estimate of $2.70 billion. During the same period in the previous year, the firm posted $10.77 EPS. The company’s revenue was up 1.0% compared to the same quarter last year. Equities research analysts expect that AutoZone will post $44.05 EPS for the current fiscal year.
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In other news, Director Earl G. Graves, Jr. sold 1,000 shares of the company’s stock in a transaction dated Thursday, June 8th. The stock was sold at an average price of $602.50, for a total value of $602,500.00. Following the completion of the transaction, the director now owns 4,431 shares of the company’s stock, valued at $2,669,677.50. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP William T. Giles sold 10,000 shares of the company’s stock in a transaction dated Tuesday, June 27th. The stock was sold at an average price of $581.10, for a total value of $5,811,000.00. Following the completion of the transaction, the vice president now directly owns 18,500 shares of the company’s stock, valued at approximately $10,750,350. The disclosure for this sale can be found here. Corporate insiders own 2.60% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in AZO. American Beacon Advisors Inc. acquired a new position in AutoZone during the first quarter worth $104,000. Alpha Windward LLC raised its position in shares of AutoZone by 0.8% in the first quarter. Alpha Windward LLC now owns 251 shares of the company’s stock worth $181,000 after buying an additional 2 shares during the last quarter. Colony Group LLC purchased a new position in shares of AutoZone during the first quarter worth approximately $205,000. Global X Management Co. LLC raised its position in shares of AutoZone by 26.5% in the first quarter. Global X Management Co. LLC now owns 286 shares of the company’s stock worth $207,000 after buying an additional 60 shares during the last quarter. Finally, Fox Run Management L.L.C. purchased a new position in shares of AutoZone during the first quarter worth approximately $213,000. 96.79% of the stock is owned by hedge funds and other institutional investors.
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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