AutoZone Inc. (NYSE:AZO)‘s stock had its “neutral” rating reissued by stock analysts at Robert W. Baird in a research note issued on Sunday. They presently have a $850.00 price target on the stock. Robert W. Baird’s target price indicates a potential upside of 14.12% from the company’s current price.
Other equities analysts have also recently issued reports about the company. Credit Suisse Group AG set a $870.00 target price on AutoZone and gave the stock a “buy” rating in a report on Saturday, September 17th. Argus reissued a “buy” rating and issued a $875.00 target price on shares of AutoZone in a report on Sunday, July 10th. BTIG Research started coverage on AutoZone in a report on Wednesday, June 1st. They issued a “buy” rating and a $900.00 target price for the company. Citigroup Inc. reissued a “buy” rating on shares of AutoZone in a report on Thursday, August 25th. Finally, Morgan Stanley set a $820.00 target price on AutoZone and gave the stock a “hold” rating in a report on Thursday, August 11th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $857.13.
AutoZone (NYSE:AZO) traded down 0.45% during mid-day trading on Friday, hitting $744.85. The stock had a trading volume of 818,102 shares. The firm has a market cap of $21.77 billion, a P/E ratio of 18.92 and a beta of 0.42. The stock has a 50 day moving average of $763.29 and a 200-day moving average of $776.70. AutoZone has a 1-year low of $681.01 and a 1-year high of $819.54.
AutoZone (NYSE:AZO) last issued its earnings results on Thursday, September 22nd. The company reported $14.30 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $14.25 by $0.05. AutoZone had a negative return on equity of 68.63% and a net margin of 11.55%. The business earned $3.40 billion during the quarter. During the same period in the previous year, the company posted $12.75 earnings per share. The company’s quarterly revenue was up 3.3% on a year-over-year basis. Analysts predict that AutoZone will post $45.45 EPS for the current fiscal year.
In related news, insider Thomas B. Newbern sold 16,870 shares of the firm’s stock in a transaction 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 owns 15,977 shares of the company’s stock, valued at approximately $12,778,724.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Earl G. Graves, Jr. sold 1,000 shares of the firm’s stock in a transaction on Tuesday, July 19th. The stock was sold at an average price of $795.24, for a total value of $795,240.00. Following the sale, the director now directly owns 4,127 shares in the company, valued at approximately $3,281,955.48. 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 modified their holdings of AZO. BlackRock Fund Advisors increased its stake in shares of AutoZone by 6.8% in the first quarter. BlackRock Fund Advisors now owns 675,496 shares of the company’s stock valued at $538,161,000 after buying an additional 42,911 shares during the last quarter. Hudson Bay Capital Management LP acquired a new stake in shares of AutoZone during the first quarter valued at approximately $797,000. BlackRock Group LTD increased its stake in shares of AutoZone by 1.3% in the first quarter. BlackRock Group LTD now owns 366,565 shares of the company’s stock valued at $292,037,000 after buying an additional 4,737 shares during the last quarter. Rehmann Capital Advisory Group acquired a new stake in shares of AutoZone during the first quarter valued at approximately $207,000. Finally, Prudential Financial Inc. increased its stake in shares of AutoZone by 0.9% in the first quarter. Prudential Financial Inc. now owns 38,764 shares of the company’s stock valued at $30,883,000 after buying an additional 360 shares during the last quarter. 95.55% of the stock is currently owned by institutional investors and hedge funds.
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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