AutoZone (NYSE:AZO) Director Buys $498,784.23 in Stock

AutoZone, Inc. (NYSE:AZO) Director Brian Hannasch acquired 147 shares of the firm’s stock in a transaction on Thursday, December 18th. The stock was purchased at an average price of $3,393.09 per share, with a total value of $498,784.23. Following the transaction, the director owned 962 shares of the company’s stock, valued at approximately $3,264,152.58. This trade represents a 18.04% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink.

AutoZone Stock Down 1.0%

Shares of NYSE:AZO traded down $35.19 during trading on Friday, reaching $3,391.42. 322,741 shares of the company’s stock traded hands, compared to its average volume of 134,059. AutoZone, Inc. has a fifty-two week low of $3,162.00 and a fifty-two week high of $4,388.11. The company has a 50-day simple moving average of $3,788.67 and a 200-day simple moving average of $3,885.70. The firm has a market cap of $56.41 billion, a PE ratio of 23.65, a P/E/G ratio of 1.61 and a beta of 0.40.

AutoZone (NYSE:AZO) last issued its quarterly earnings results on Tuesday, December 9th. The company reported $31.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $32.69 by ($1.65). The business had revenue of $4.63 billion for the quarter, compared to analysts’ expectations of $4.64 billion. AutoZone had a negative return on equity of 65.38% and a net margin of 12.78%.The business’s revenue for the quarter was up 8.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $32.52 EPS. On average, equities research analysts forecast that AutoZone, Inc. will post 152.94 EPS for the current year.

AutoZone announced that its board has initiated a share repurchase plan on Wednesday, October 8th that authorizes the company to repurchase $0.00 in outstanding shares. This repurchase authorization authorizes the company to buy shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

Analysts Set New Price Targets

AZO has been the topic of several recent analyst reports. Evercore ISI reaffirmed an “outperform” rating and set a $4,100.00 price objective on shares of AutoZone in a report on Wednesday, December 10th. Robert W. Baird assumed coverage on shares of AutoZone in a research note on Wednesday, December 3rd. They issued an “outperform” rating and a $4,500.00 price target on the stock. DA Davidson lowered their price objective on AutoZone from $4,850.00 to $4,500.00 and set a “buy” rating on the stock in a report on Wednesday, December 10th. Erste Group Bank cut AutoZone from a “buy” rating to a “hold” rating in a report on Friday, October 31st. Finally, TD Cowen lowered their price target on AutoZone from $4,900.00 to $4,400.00 and set a “buy” rating on the stock in a research note on Wednesday, December 10th. Two research analysts have rated the stock with a Strong Buy rating, twenty-six have given a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $4,317.27.

Hedge Funds Weigh In On AutoZone

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Keel Point LLC increased its stake in shares of AutoZone by 3.4% in the 3rd quarter. Keel Point LLC now owns 122 shares of the company’s stock worth $523,000 after acquiring an additional 4 shares during the last quarter. Allworth Financial LP grew its holdings in shares of AutoZone by 125.3% in the third quarter. Allworth Financial LP now owns 401 shares of the company’s stock valued at $1,718,000 after purchasing an additional 223 shares during the period. IFP Advisors Inc grew its holdings in shares of AutoZone by 14.2% in the third quarter. IFP Advisors Inc now owns 337 shares of the company’s stock valued at $1,453,000 after purchasing an additional 42 shares during the period. Swiss Life Asset Management Ltd increased its position in AutoZone by 3.6% during the third quarter. Swiss Life Asset Management Ltd now owns 2,867 shares of the company’s stock worth $12,300,000 after purchasing an additional 100 shares during the last quarter. Finally, Groupama Asset Managment purchased a new position in AutoZone during the third quarter worth about $626,000. Institutional investors and hedge funds own 92.74% of the company’s stock.

About AutoZone

AutoZone, Inc (NYSE: AZO) is a retailer and distributor of automotive replacement parts and accessories. Headquartered in Memphis, Tennessee, the company supplies a wide range of aftermarket components, maintenance items and accessories for passenger cars, light trucks and commercial vehicles. Its product assortment includes engine parts, electrical components, batteries, brakes, filters, fluids and interior and exterior accessories, supported by inventory management and logistics systems to serve retail customers and professional service providers.

AutoZone serves both do‑it‑yourself (DIY) consumers and commercial customers such as independent repair shops and service centers.