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.

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.

The Fly

Analyst Recommendations for AutoZone (NYSE:AZO)

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