AutoZone Inc. (NYSE:AZO)‘s stock had its “overweight” rating restated by equities research analysts at Barclays PLC in a report released on Sunday. They currently have a $870.00 target price on the stock. Barclays PLC’s target price suggests a potential upside of 16.80% from the company’s current price.
A number of other brokerages have also recently commented on AZO. Credit Suisse Group AG set a $870.00 price target on AutoZone and gave the stock a “buy” rating in a research report on Saturday, September 17th. Goldman Sachs Group Inc. set a $841.00 price objective on AutoZone and gave the company a “hold” rating in a research report on Monday, September 19th. BTIG Research started coverage on AutoZone in a research report on Wednesday, June 1st. They issued a “buy” rating and a $900.00 price objective on the stock. Morgan Stanley set a $820.00 price objective on AutoZone and gave the company a “hold” rating in a research report on Thursday, August 11th. Finally, Zacks Investment Research raised AutoZone from a “sell” rating to a “hold” rating in a research report on Monday, September 12th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $857.13.
AutoZone (NYSE:AZO) traded down 0.45% during trading on Friday, hitting $744.85. The stock had a trading volume of 818,102 shares. The company has a 50-day moving average price of $763.29 and a 200-day moving average price of $776.70. AutoZone has a 52-week low of $681.01 and a 52-week high of $819.54. The company has a market cap of $21.77 billion, a price-to-earnings ratio of 18.92 and a beta of 0.42.
AutoZone (NYSE:AZO) last issued its quarterly earnings results on Thursday, September 22nd. The company reported $14.30 EPS for the quarter, topping analysts’ consensus estimates of $14.25 by $0.05. AutoZone had a negative return on equity of 68.63% and a net margin of 11.55%. The firm had revenue of $3.40 billion for the quarter. During the same period in the prior year, the firm earned $12.75 earnings per share. The business’s revenue for the quarter was up 3.3% compared to the same quarter last year. Equities research analysts forecast that AutoZone will post $45.45 EPS for the current year.
In other news, VP Albert Saltiel sold 1,650 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the vice president now owns 1,734 shares in the company, valued at $1,400,239.68. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Thomas B. Newbern sold 16,870 shares of the firm’s stock in a transaction dated Thursday, August 11th. The shares were sold at an average price of $799.82, for a total value of $13,492,963.40. Following the transaction, the insider now 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. 2.40% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Nordea Investment Management AB raised its position in shares of AutoZone by 166.3% in the second quarter. Nordea Investment Management AB now owns 757,122 shares of the company’s stock worth $601,034,000 after buying an additional 472,766 shares during the last quarter. Emerald Acquisition Ltd. purchased a new position in shares of AutoZone during the second quarter worth $87,553,000. Caisse DE Depot ET Placement DU Quebec purchased a new position in shares of AutoZone during the second quarter worth $77,251,000. 1832 Asset Management L.P. raised its position in shares of AutoZone by 181.8% in the first quarter. 1832 Asset Management L.P. now owns 75,637 shares of the company’s stock worth $97,999,000 after buying an additional 48,797 shares during the last quarter. Finally, Trilogy Global Advisors LP purchased a new position in shares of AutoZone during the second quarter worth $34,346,000. Hedge funds and other institutional investors own 95.55% of the company’s stock.
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).
Receive News & Ratings for AutoZone Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AutoZone Inc. and related companies with MarketBeat.com's FREE daily email newsletter.