Highland Capital Management LLC lifted its position in shares of AutoZone, Inc. (NYSE:AZO – Get Rating) by 167.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,156 shares of the company’s stock after buying an additional 724 shares during the quarter. Highland Capital Management LLC’s holdings in AutoZone were worth $2,484,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also modified their holdings of the company. Comprehensive Financial Consultants Institutional Inc. purchased a new stake in shares of AutoZone during the fourth quarter worth about $27,000. Riverview Trust Co purchased a new stake in shares of AutoZone during the first quarter worth about $27,000. Tcwp LLC purchased a new stake in shares of AutoZone during the first quarter worth about $30,000. Kings Point Capital Management purchased a new stake in shares of AutoZone during the first quarter worth about $31,000. Finally, Johnson Financial Group Inc. purchased a new stake in shares of AutoZone during the fourth quarter worth about $36,000. 92.90% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently issued reports on AZO shares. MKM Partners started coverage on shares of AutoZone in a report on Thursday, June 23rd. They issued a “buy” rating and a $2,350.00 target price for the company. Jefferies Financial Group boosted their target price on shares of AutoZone from $2,350.00 to $2,450.00 and gave the company a “buy” rating in a report on Tuesday. Stifel Nicolaus restated a “buy” rating and issued a $2,450.00 target price on shares of AutoZone in a report on Thursday. Wedbush boosted their target price on shares of AutoZone from $2,250.00 to $2,350.00 and gave the company an “outperform” rating in a report on Tuesday. Finally, Morgan Stanley raised shares of AutoZone from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $2,125.00 to $2,420.00 in a research report on Thursday, June 16th. Three research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $2,356.53.
Insider Transactions at AutoZone
AutoZone Trading Down 1.0 %
NYSE AZO opened at $2,082.64 on Friday. The stock has a market cap of $40.59 billion, a P/E ratio of 17.72, a PEG ratio of 1.50 and a beta of 0.78. The company’s fifty day simple moving average is $2,185.96 and its 200-day simple moving average is $2,096.21. AutoZone, Inc. has a 52 week low of $1,634.34 and a 52 week high of $2,362.24.
AutoZone (NYSE:AZO – Get Rating) last posted its quarterly earnings results on Monday, September 19th. The company reported $40.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $38.38 by $2.13. The firm had revenue of $5.35 billion for the quarter, compared to analysts’ expectations of $5.16 billion. AutoZone had a net margin of 14.95% and a negative return on equity of 79.74%. The firm’s quarterly revenue was up 8.9% on a year-over-year basis. During the same period in the prior year, the company posted $35.72 earnings per share. On average, research analysts expect that AutoZone, Inc. will post 123.67 EPS for the current fiscal year.
AutoZone, Inc retails and distributes automotive replacement parts and accessories. The company offers various products for cars, sport utility vehicles, vans, and light trucks, including new and remanufactured automotive hard parts, maintenance items, accessories, and non-automotive products. Its products include A/C compressors, batteries and accessories, bearings, belts and hoses, calipers, chassis, clutches, CV axles, engines, fuel pumps, fuses, ignition and lighting products, mufflers, radiators, starters and alternators, thermostats, and water pumps, as well as tire repairs.
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