Investors Buy Shares of AutoZone, Inc. (AZO) on Weakness
Investors bought shares of AutoZone, Inc. (NYSE:AZO) on weakness during trading on Tuesday. $97.18 million flowed into the stock on the tick-up and $81.63 million flowed out of the stock on the tick-down, for a money net flow of $15.55 million into the stock. Of all stocks tracked, AutoZone had the 21st highest net in-flow for the day. AutoZone traded down ($2.25) for the day and closed at $632.40
AZO has been the subject of a number of research reports. Royal Bank Of Canada reduced their price target on shares of AutoZone from $577.00 to $571.00 and set a “sector perform” rating for the company in a report on Wednesday, September 20th. Zacks Investment Research downgraded shares of AutoZone from a “hold” rating to a “sell” rating in a report on Wednesday, November 1st. UBS Group AG reissued a “buy” rating and issued a $655.00 price target (down from $725.00) on shares of AutoZone in a report on Wednesday, September 20th. Robert W. Baird reissued a “hold” rating and issued a $590.00 price target on shares of AutoZone in a report on Friday, October 27th. Finally, Oppenheimer Holdings, Inc. reissued a “buy” rating on shares of AutoZone in a report on Thursday, September 21st. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. AutoZone has a consensus rating of “Hold” and a consensus target price of $724.45.
The company has a market capitalization of $17,386.27, a PE ratio of 14.35, a PEG ratio of 1.16 and a beta of 0.65. The company has a quick ratio of 0.15, a current ratio of 0.97 and a debt-to-equity ratio of -3.56.
AutoZone (NYSE:AZO) last announced its earnings results on Tuesday, September 19th. The company reported $15.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $15.11 by $0.07. The business had revenue of $3.51 billion during the quarter, compared to analysts’ expectations of $3.49 billion. AutoZone had a net margin of 11.76% and a negative return on equity of 74.48%. The firm’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same quarter last year, the company posted $14.30 EPS. sell-side analysts predict that AutoZone, Inc. will post 46.78 earnings per share for the current year.
In other AutoZone news, Director William Andrew Mckenna sold 3,000 shares of the firm’s stock in a transaction dated Thursday, September 28th. The shares were sold at an average price of $584.96, for a total value of $1,754,880.00. Following the completion of the sale, the director now owns 8,131 shares in the company, valued at approximately $4,756,309.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 2.60% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Nippon Life Insurance Co. increased its position in AutoZone by 0.4% in the 2nd quarter. Nippon Life Insurance Co. now owns 2,022 shares of the company’s stock valued at $1,153,000 after acquiring an additional 8 shares in the last quarter. Cetera Investment Advisers increased its position in AutoZone by 1.1% in the 2nd quarter. Cetera Investment Advisers now owns 730 shares of the company’s stock valued at $417,000 after acquiring an additional 8 shares in the last quarter. Salem Investment Counselors Inc. increased its position in AutoZone by 3.5% in the 2nd quarter. Salem Investment Counselors Inc. now owns 264 shares of the company’s stock valued at $151,000 after acquiring an additional 9 shares in the last quarter. Reliant Investment Management LLC increased its position in AutoZone by 2.1% in the 2nd quarter. Reliant Investment Management LLC now owns 715 shares of the company’s stock valued at $408,000 after acquiring an additional 15 shares in the last quarter. Finally, Bbva Compass Bancshares Inc. increased its position in AutoZone by 5.2% in the 2nd quarter. Bbva Compass Bancshares Inc. now owns 386 shares of the company’s stock valued at $220,000 after acquiring an additional 19 shares in the last quarter. Hedge funds and other institutional investors own 98.66% of the company’s stock.
AutoZone Company Profile
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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