AutoZone’s (AZO) Buy Rating Reaffirmed at Oppenheimer Holdings, Inc.

Oppenheimer Holdings, Inc. reiterated their buy rating on shares of AutoZone, Inc. (NYSE:AZO) in a research report released on Tuesday.

Other equities research analysts have also recently issued research reports about the company. Citigroup Inc. reduced their price objective on AutoZone from $920.00 to $750.00 and set a buy rating for the company in a research note on Thursday, May 25th. Credit Suisse Group set a $812.00 price objective on AutoZone and gave the company a buy rating in a research note on Wednesday, March 1st. BTIG Research reissued a buy rating and issued a $900.00 price objective on shares of AutoZone in a research note on Wednesday, February 22nd. CIBC reissued a buy rating and issued a $900.00 price objective on shares of AutoZone in a research note on Wednesday, May 24th. Finally, ValuEngine raised AutoZone from a hold rating to a buy rating in a research note on Wednesday, May 24th. Twelve research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of Buy and a consensus price target of $814.81.

Analyst Recommendations for AutoZone (NYSE:AZO)

AutoZone (NYSE:AZO) opened at 574.98 on Tuesday. The firm has a market capitalization of $16.12 billion, a price-to-earnings ratio of 13.28 and a beta of 0.57. The company has a 50 day moving average price of $640.62 and a 200 day moving average price of $716.86. AutoZone has a 12 month low of $567.90 and a 12 month high of $819.54.

AutoZone (NYSE:AZO) last issued its earnings results on Tuesday, May 23rd. The company reported $11.44 earnings per share for the quarter, missing the Zacks’ consensus estimate of $12.00 by $0.56. The business had revenue of $2.62 billion during the quarter, compared to the consensus estimate of $2.70 billion. AutoZone had a negative return on equity of 70.52% and a net margin of 11.82%. The company’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $10.77 earnings per share. Analysts anticipate that AutoZone will post $44.23 earnings per share for the current fiscal year.

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In other AutoZone news, Director Earl G. Graves, Jr. sold 1,000 shares of the business’s stock in a transaction on Thursday, June 8th. The stock was sold at an average price of $602.50, for a total value of $602,500.00. Following the sale, the director now directly owns 4,431 shares in the company, valued at $2,669,677.50. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 2.60% of the company’s stock.

Several hedge funds have recently modified their holdings of AZO. American Beacon Advisors Inc. purchased a new stake in shares of AutoZone during the first quarter valued at about $104,000. Alpha Windward LLC raised its stake in shares of AutoZone by 0.8% in the first quarter. Alpha Windward LLC now owns 251 shares of the company’s stock valued at $181,000 after buying an additional 2 shares during the last quarter. Colony Group LLC purchased a new stake in shares of AutoZone during the first quarter valued at about $205,000. Global X Management Co. LLC raised its stake in shares of AutoZone by 26.5% in the first quarter. Global X Management Co. LLC now owns 286 shares of the company’s stock valued at $207,000 after buying an additional 60 shares during the last quarter. Finally, Fox Run Management L.L.C. purchased a new stake in shares of AutoZone during the first quarter valued at about $213,000. Hedge funds and other institutional investors own 97.16% 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 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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “AZO”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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