AutoZone Inc. (NYSE:AZO)‘s stock had its “outperform” rating reaffirmed by Wedbush in a research report issued on Friday. They currently have a $870.00 target price on the stock. Wedbush’s price objective suggests a potential upside of 14.64% from the stock’s current price.
AZO has been the subject of a number of other reports. Goldman Sachs Group Inc. set a $841.00 target price on AutoZone and gave the company a “hold” rating in a report on Monday, September 19th. Citigroup Inc. reiterated a “buy” rating on shares of AutoZone in a report on Thursday, August 25th. Zacks Investment Research lowered AutoZone from a “hold” rating to a “sell” rating in a report on Tuesday, July 26th. Morgan Stanley set a $820.00 target price on AutoZone and gave the company a “hold” rating in a report on Thursday, August 11th. Finally, Argus reiterated a “buy” rating and issued a $875.00 target price on shares of AutoZone in a report on Sunday, July 10th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. AutoZone has an average rating of “Hold” and an average price target of $857.13.
Shares of AutoZone (NYSE:AZO) opened at 758.88 on Friday. The company’s 50 day moving average price is $761.94 and its 200 day moving average price is $776.57. AutoZone has a 52-week low of $681.01 and a 52-week high of $819.54. The stock has a market capitalization of $22.10 billion, a PE ratio of 18.65 and a beta of 0.42.
AutoZone (NYSE:AZO) last released its earnings results on Thursday, September 22nd. The company reported $14.30 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $14.25 by $0.05. The firm earned $3.40 billion during the quarter. AutoZone had a negative return on equity of 68.63% and a net margin of 11.55%. The company’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same quarter last year, the business posted $12.75 earnings per share. On average, equities research analysts anticipate that AutoZone will post $45.45 EPS for the current year.
In other AutoZone news, VP Albert Saltiel sold 1,650 shares of the business’s stock in a transaction that occurred on Wednesday, July 6th. The stock was sold at an average price of $807.52, for a total transaction of $1,332,408.00. Following the transaction, the vice president now owns 1,734 shares in the company, valued at approximately $1,400,239.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director William Andrew Mckenna sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 5th. The stock was sold at an average price of $800.25, for a total value of $2,400,750.00. Following the transaction, the director now owns 7,597 shares in the company, valued at approximately $6,079,499.25. The disclosure for this sale can be found here. 2.40% of the stock is owned by corporate insiders.
A number of institutional investors have recently added to or reduced their stakes in the company. Hudson Bay Capital Management LP acquired a new position in AutoZone during the first quarter valued at about $797,000. BlackRock Group LTD boosted its position in 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 position in AutoZone during the first quarter valued at about $207,000. Prudential Financial Inc. boosted its position in 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. Finally, Teachers Advisors Inc. boosted its position in AutoZone by 0.3% in the first quarter. Teachers Advisors Inc. now owns 109,688 shares of the company’s stock valued at $87,387,000 after buying an additional 352 shares during the last quarter. Institutional investors own 95.55% 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’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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