Several other equities research analysts have also commented on the stock. Zacks Investment Research lowered shares of AutoZone from a hold rating to a sell rating in a research report on Tuesday, July 26th. Susquehanna started coverage on shares of AutoZone in a research report on Thursday, August 25th. They set a neutral rating and a $810.00 target price on the stock. Morgan Stanley set a $820.00 target price on shares of AutoZone and gave the stock a hold rating in a research report on Thursday, August 11th. Argus restated a buy rating and set a $875.00 target price on shares of AutoZone in a research report on Sunday, July 10th. Finally, Goldman Sachs Group Inc. set a $841.00 target price on shares of AutoZone and gave the stock a hold rating in a research report on Monday, September 19th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. AutoZone has a consensus rating of Hold and an average price target of $858.24.
AutoZone (NYSE:AZO) traded down 0.18% during trading on Wednesday, reaching $765.76. 385,523 shares of the company’s stock traded hands. The firm’s 50 day moving average price is $759.36 and its 200-day moving average price is $776.30. AutoZone has a one year low of $681.01 and a one year high of $819.54. The stock has a market cap of $22.30 billion, a P/E ratio of 18.81 and a beta of 0.42.
AutoZone (NYSE:AZO) last issued its earnings results on Thursday, September 22nd. The company reported $14.30 EPS for the quarter, topping the consensus estimate of $14.25 by $0.05. The company had revenue of $3.40 billion for the quarter. AutoZone had a net margin of 11.67% and a negative return on equity of 69.23%. AutoZone’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $12.75 earnings per share. On average, equities analysts anticipate that AutoZone will post $45.46 earnings per share for the current fiscal year.
In related news, Director Earl G. Graves, Jr. sold 1,000 shares of the stock in a transaction that occurred on Tuesday, July 19th. The shares were sold at an average price of $795.24, for a total transaction of $795,240.00. Following the completion of the sale, the director now owns 4,127 shares of the company’s stock, valued at approximately $3,281,955.48. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Thomas B. Newbern sold 16,870 shares of the stock in a transaction that occurred on Thursday, August 11th. The stock was sold at an average price of $799.82, for a total transaction of $13,492,963.40. Following the sale, the insider now directly owns 15,977 shares of the company’s stock, valued at approximately $12,778,724.14. The disclosure for this sale can be found here. Corporate insiders own 2.40% of the company’s stock.
A number of hedge funds have recently bought and sold shares of AZO. Evercore Wealth Management LLC increased its stake in AutoZone by 1.7% in the second quarter. Evercore Wealth Management LLC now owns 81,985 shares of the company’s stock worth $65,083,000 after buying an additional 1,404 shares during the period. Kentucky Retirement Systems Insurance Trust Fund bought a new position in AutoZone during the second quarter worth $957,000. Kentucky Retirement Systems bought a new position in AutoZone during the second quarter worth $2,016,000. Mason Street Advisors LLC bought a new position in AutoZone during the second quarter worth $3,193,000. Finally, CI Global Investments Inc. boosted its position in AutoZone by 29.7% in the second quarter. CI Global Investments Inc. now owns 17,375 shares of the company’s stock worth $13,793,000 after buying an additional 3,975 shares in the last quarter. 95.55% of the stock is owned by hedge funds and other institutional investors.
AutoZone Company Profile
AutoZone, Inc is a retailer and distributor of automotive replacement parts and accessories in the United States. The Company’s operating segments include Auto Parts Locations and Other. The Auto Parts Locations segment comprises Domestic Auto Parts, Mexico, Brazil and Interamerican Motor Corporation (IMC).
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