Richard Craig Smith Sells 5,910 Shares of AutoZone (NYSE:AZO) Stock

AutoZone, Inc. (NYSE:AZO) VP Richard Craig Smith sold 5,910 shares of the stock in a transaction dated Friday, January 23rd. The stock was sold at an average price of $3,700.00, for a total value of $21,867,000.00. Following the transaction, the vice president owned 2,627 shares in the company, valued at $9,719,900. This trade represents a 69.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Richard Craig Smith also recently made the following trade(s):

• On Friday, January 16th, Richard Craig Smith sold 3,190 shares of AutoZone stock. The shares were sold at an average price of $3,500.00, for a total transaction of $11,165,000.00.

AutoZone Stock Up 0.4%

Shares of AutoZone stock traded up $14.56 on Tuesday, hitting $3,800.59. 143,839 shares of the company’s stock traded hands, compared to its average volume of 201,590. The firm’s 50-day moving average is $3,584.15 and its 200 day moving average is $3,849.60. AutoZone, Inc. has a 52-week low of $3,210.72 and a 52-week high of $4,388.11. The stock has a market cap of $62.98 billion, a P/E ratio of 26.50, a PEG ratio of 1.77 and a beta of 0.42.

AutoZone (NYSE:AZO) last released its quarterly earnings data on Tuesday, December 9th. The company reported $31.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $32.69 by ($1.65). The company had revenue of $4.63 billion for the quarter, compared to analyst estimates of $4.64 billion. AutoZone had a net margin of 12.78% and a negative return on equity of 65.38%. The company’s revenue for the quarter was up 8.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $32.52 EPS. Equities research analysts forecast that AutoZone, Inc. will post 152.94 EPS for the current year.

AutoZone announced that its board has initiated a stock buyback program on Wednesday, October 8th that authorizes the company to buyback $0.00 in outstanding shares. This buyback authorization authorizes the company to buy shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s management believes its shares are undervalued.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of AZO. Raleigh Capital Management Inc. bought a new position in shares of AutoZone during the third quarter valued at approximately $26,000. Turning Point Benefit Group Inc. purchased a new stake in AutoZone during the third quarter worth $25,000. Global Trust Asset Management LLC increased its stake in shares of AutoZone by 600.0% in the 3rd quarter. Global Trust Asset Management LLC now owns 7 shares of the company’s stock valued at $30,000 after purchasing an additional 6 shares in the last quarter. Aspect Partners LLC grew its stake in AutoZone by 700.0% in the 2nd quarter. Aspect Partners LLC now owns 8 shares of the company’s stock valued at $30,000 after acquiring an additional 7 shares during the period. Finally, Salomon & Ludwin LLC acquired a new position in shares of AutoZone during the 3rd quarter worth about $34,000. Hedge funds and other institutional investors own 92.74% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on AZO. Wolfe Research lowered AutoZone from an “outperform” rating to a “peer perform” rating in a report on Tuesday, December 16th. Wells Fargo & Company decreased their price target on AutoZone from $4,700.00 to $4,500.00 and set an “overweight” rating on the stock in a report on Wednesday, December 10th. Barclays set a $3,880.00 price objective on AutoZone in a research note on Thursday, January 8th. Jefferies Financial Group restated a “buy” rating and set a $4,400.00 target price on shares of AutoZone in a report on Wednesday, December 10th. Finally, Erste Group Bank cut shares of AutoZone from a “buy” rating to a “hold” rating in a research note on Friday, October 31st. Two analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $4,285.00.

AutoZone Company Profile

AutoZone, Inc (NYSE: AZO) is a retailer and distributor of automotive replacement parts and accessories. Headquartered in Memphis, Tennessee, the company supplies a wide range of aftermarket components, maintenance items and accessories for passenger cars, light trucks and commercial vehicles. Its product assortment includes engine parts, electrical components, batteries, brakes, filters, fluids and interior and exterior accessories, supported by inventory management and logistics systems to serve retail customers and professional service providers.

AutoZone serves both do?it?yourself (DIY) consumers and commercial customers such as independent repair shops and service centers.