Shares of AutoZone Inc. (NYSE:AZO) have received an average recommendation of “Hold” from the twenty-three research firms that are currently covering the company. Two equities research analysts have rated the stock with a sell recommendation, ten have given a hold recommendation, ten have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among brokers that have covered the stock in the last year is $865.89.
A number of research firms recently weighed in on AZO. Credit Suisse Group AG set a $870.00 target price on shares of AutoZone and gave the company a “buy” rating in a report on Saturday, September 17th. Zacks Investment Research lowered shares of AutoZone from a “hold” rating to a “sell” rating in a report on Thursday, September 1st. RBC Capital Markets reissued a “sector perform” rating and issued a $855.00 target price (down from $873.00) on shares of AutoZone in a report on Friday, September 23rd. TheStreet lowered shares of AutoZone from a “buy” rating to a “sell” rating in a report on Wednesday, September 28th. Finally, Susquehanna began coverage on shares of AutoZone in a report on Thursday, August 25th. They issued a “neutral” rating and a $810.00 target price for the company.
In other AutoZone news, insider Thomas B. Newbern sold 16,870 shares of the business’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 completion of the transaction, the insider now directly owns 15,977 shares in the company, valued at $12,778,724.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.40% of the stock is currently owned by company insiders.
A number of institutional investors have recently made changes to their positions in AZO. Nordea Investment Management AB increased 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 in the last quarter. Emerald Acquisition Ltd. bought a new position in AutoZone during the second quarter valued at about $87,553,000. Caisse DE Depot ET Placement DU Quebec bought a new position in AutoZone during the second quarter valued at about $77,251,000. 1832 Asset Management L.P. increased its position in AutoZone by 181.8% in the first quarter. 1832 Asset Management L.P. now owns 75,637 shares of the company’s stock valued at $97,999,000 after buying an additional 48,797 shares during the period. Finally, Trilogy Global Advisors LP bought a new position in AutoZone during the second quarter valued at about $34,346,000. Institutional investors and hedge funds own 95.93% of the company’s stock.
Shares of AutoZone (NYSE:AZO) traded down 0.04% on Tuesday, reaching $754.64. 113,435 shares of the company’s stock traded hands. The stock has a 50-day moving average of $751.08 and a 200 day moving average of $773.38. The firm has a market cap of $21.97 billion, a P/E ratio of 18.54 and a beta of 0.50. AutoZone has a 12-month low of $681.01 and a 12-month high of $819.54.
AutoZone (NYSE:AZO) last posted its earnings results on Thursday, September 22nd. The company reported $14.30 earnings per share for the quarter, beating analysts’ consensus estimates of $14.25 by $0.05. AutoZone had a net margin of 11.67% and a negative return on equity of 69.23%. The firm earned $3.40 billion during the quarter. During the same period last year, the business posted $12.75 earnings per share. The company’s revenue for the quarter was up 3.3% compared to the same quarter last year. On average, equities research analysts expect that AutoZone will post $45.46 earnings per share for the current year.
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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