Traders Sell AutoZone (AZO) on Strength on Insider Selling
Traders sold shares of AutoZone, Inc. (NYSE:AZO) on strength during trading hours on Tuesday after an insider sold shares in the company. $49.26 million flowed into the stock on the tick-up and $113.86 million flowed out of the stock on the tick-down, for a money net flow of $64.60 million out of the stock. Of all stocks tracked, AutoZone had the 0th highest net out-flow for the day. AutoZone traded up $2.44 for the day and closed at $711.05Specifically, Director William Andrew Mckenna sold 3,000 shares of the company’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 transaction, the director now owns 8,131 shares in the company, valued at approximately $4,756,309.76. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Charles Pleas III sold 10,000 shares of the company’s stock in a transaction dated Thursday, December 7th. The shares were sold at an average price of $700.00, for a total transaction of $7,000,000.00. Following the completion of the transaction, the vice president now owns 14,377 shares in the company, valued at approximately $10,063,900. The disclosure for this sale can be found here. Insiders have sold a total of 80,823 shares of company stock worth $56,687,723 over the last 90 days. 2.80% of the stock is owned by company insiders.
A number of research firms have issued reports on AZO. UBS reissued a “buy” rating and issued a $750.00 price objective (down previously from $810.00) on shares of AutoZone in a report on Wednesday, December 6th. Barclays boosted their price objective on shares of AutoZone from $710.00 to $800.00 in a report on Thursday, December 7th. Jefferies Group reissued a “hold” rating and issued a $720.00 price objective on shares of AutoZone in a report on Wednesday, December 6th. Citigroup boosted their price objective on shares of AutoZone to $820.00 and gave the company a “buy” rating in a report on Wednesday, December 6th. Finally, Guggenheim downgraded shares of AutoZone from a “buy” rating to a “neutral” rating in a report on Wednesday, December 6th. Three equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $733.89.
The firm has a market cap of $19,440.00, a P/E ratio of 16.16, a P/E/G ratio of 1.33 and a beta of 0.71. The company has a current ratio of 0.93, a quick ratio of 0.14 and a debt-to-equity ratio of -3.27.
AutoZone (NYSE:AZO) last issued its quarterly earnings data on Tuesday, December 5th. The company reported $10.00 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $9.90 by $0.10. AutoZone had a net margin of 11.66% and a negative return on equity of 78.83%. The business had revenue of $2.59 billion during the quarter, compared to the consensus estimate of $2.54 billion. During the same quarter in the prior year, the firm earned $9.36 EPS. The firm’s revenue was up 4.9% compared to the same quarter last year. analysts predict that AutoZone, Inc. will post 46.73 EPS for the current year.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. 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 during the period. Nippon Life Insurance Co. increased its position in shares of AutoZone by 0.4% during the second quarter. Nippon Life Insurance Co. now owns 2,022 shares of the company’s stock worth $1,153,000 after buying an additional 8 shares during the period. Salem Investment Counselors Inc. increased its position in shares of AutoZone by 3.5% during the second quarter. Salem Investment Counselors Inc. now owns 264 shares of the company’s stock worth $151,000 after buying an additional 9 shares during the period. Reliant Investment Management LLC increased its position in shares of AutoZone by 2.1% during the second quarter. Reliant Investment Management LLC now owns 715 shares of the company’s stock worth $408,000 after buying an additional 15 shares during the period. Finally, IMS Capital Management increased its position in shares of AutoZone by 1.4% during the second quarter. IMS Capital Management now owns 1,406 shares of the company’s stock worth $802,000 after buying an additional 19 shares during the period. Hedge funds and other institutional investors own 99.03% of the company’s stock.
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.
Receive News & Ratings for AutoZone Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AutoZone and related companies with Analyst Ratings Network's FREE daily email newsletter.