AutoZone (AZO) Research Coverage Started at Moffett Nathanson

Moffett Nathanson began coverage on shares of AutoZone (NYSE:AZO) in a research note released on Monday morning, Marketbeat reports. The brokerage issued a neutral rating on the stock.

A number of other brokerages have also weighed in on AZO. Raymond James Financial restated a hold rating on shares of AutoZone in a report on Saturday, December 2nd. UBS restated a buy rating and issued a $750.00 price objective (up from $655.00) on shares of AutoZone in a report on Wednesday, November 29th. Zacks Investment Research lowered shares of AutoZone from a hold rating to a sell rating in a report on Tuesday, November 21st. Robert W. Baird restated a hold rating and issued a $590.00 price objective on shares of AutoZone in a report on Friday, October 27th. Finally, Credit Suisse Group set a $640.00 price objective on shares of AutoZone and gave the stock a buy rating in a report on Wednesday, November 1st. Three investment analysts have rated the stock with a sell rating, thirteen have given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus target price of $730.70.

AutoZone (NYSE AZO) opened at $698.65 on Monday. AutoZone has a 1-year low of $491.13 and a 1-year high of $813.70. The firm has a market cap of $19,595.57, a P/E ratio of 15.96, a P/E/G ratio of 1.31 and a beta of 0.72. The company has a debt-to-equity ratio of -3.56, a current ratio of 0.97 and a quick ratio of 0.15.

AutoZone (NYSE:AZO) last announced its quarterly earnings data on Tuesday, December 5th. The company reported $10.00 earnings per share for the quarter, topping analysts’ consensus estimates of $9.90 by $0.10. AutoZone had a net margin of 11.66% and a negative return on equity of 77.27%. The company had revenue of $2.59 billion during the quarter, compared to analyst estimates of $2.54 billion. During the same period in the previous year, the business earned $9.36 EPS. The firm’s revenue for the quarter was up 4.9% on a year-over-year basis. analysts anticipate that AutoZone will post 46.78 earnings per share for the current year.

In other news, Director William Andrew Mckenna sold 3,000 shares of the business’s stock in a transaction on Thursday, September 28th. The shares were sold at an average price of $584.96, for a total transaction of $1,754,880.00. Following the completion of the sale, the director now owns 8,131 shares of the company’s stock, valued at approximately $4,756,309.76. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider James C. Griffith sold 3,623 shares of the business’s stock in a transaction on Wednesday, December 6th. The shares were sold at an average price of $698.17, for a total transaction of $2,529,469.91. Following the sale, the insider now directly owns 2,016 shares of the company’s stock, valued at approximately $1,407,510.72. The disclosure for this sale can be found here. 2.60% of the stock is currently owned by insiders.

Several hedge funds have recently modified their holdings of AZO. Fieldpoint Private Securities LLC bought a new position in AutoZone in the 2nd quarter worth $114,000. Salem Investment Counselors Inc. boosted its holdings in AutoZone by 3.5% in the 2nd quarter. Salem Investment Counselors Inc. now owns 264 shares of the company’s stock worth $151,000 after buying an additional 9 shares during the period. Fuller & Thaler Asset Management Inc. bought a new position in AutoZone in the 3rd quarter worth $179,000. Global X Management Co. LLC boosted its holdings in AutoZone by 12.9% in the 2nd quarter. Global X Management Co. LLC now owns 323 shares of the company’s stock worth $184,000 after buying an additional 37 shares during the period. Finally, Jarislowsky Fraser Ltd bought a new position in AutoZone in the 3rd quarter worth $202,000. 98.89% of the stock is owned by hedge funds and other institutional investors.

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About AutoZone

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.

Analyst Recommendations for AutoZone (NYSE:AZO)

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