AutoZone (NYSE:AZO) Research Coverage Started at Goldman Sachs Group

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Goldman Sachs Group initiated coverage on shares of AutoZone (NYSE:AZO) in a research report report published on Thursday, BenzingaRatingsTable reports. The firm issued a neutral rating and a $1,183.00 price target on the stock.

AZO has been the topic of a number of other research reports. Citigroup upgraded shares of Gilead Sciences from a neutral rating to a buy rating and set a $66.80 target price on the stock in a research note on Wednesday, May 22nd. Wells Fargo & Co reiterated a buy rating and issued a $55.00 price target on shares of Metlife in a research note on Tuesday, May 21st. Evercore ISI initiated coverage on shares of Polarityte in a research note on Wednesday, March 20th. They issued an outperform rating and a $26.00 price target on the stock. Credit Suisse Group reiterated a neutral rating and issued a $100.00 price target on shares of Procter & Gamble in a research note on Tuesday, April 23rd. Finally, Zacks Investment Research cut shares of Home Bancshares from a hold rating to a sell rating in a research note on Friday, June 7th. Four analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. AutoZone currently has a consensus rating of Buy and a consensus price target of $1,046.18.

AZO opened at $1,164.71 on Thursday. AutoZone has a fifty-two week low of $680.40 and a fifty-two week high of $1,166.90. The company’s fifty day moving average price is $1,097.65. The stock has a market cap of $28.57 billion, a PE ratio of 19.58, a price-to-earnings-growth ratio of 1.53 and a beta of 0.66.

AutoZone (NYSE:AZO) last released its earnings results on Tuesday, May 21st. The company reported $15.99 earnings per share for the quarter, beating analysts’ consensus estimates of $15.23 by $0.76. AutoZone had a net margin of 12.70% and a negative return on equity of 97.19%. The company had revenue of $2.78 billion for the quarter, compared to analysts’ expectations of $2.77 billion. During the same quarter in the previous year, the company earned $13.42 EPS. AutoZone’s revenue for the quarter was up 4.6% on a year-over-year basis. As a group, equities research analysts predict that AutoZone will post 62.48 EPS for the current fiscal year.

In other AutoZone news, insider Albert Saltiel sold 1,800 shares of the business’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $1,114.09, for a total value of $2,005,362.00. Following the sale, the insider now owns 1,965 shares in the company, valued at approximately $2,189,186.85. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Earl G. Graves, Jr. sold 250 shares of the business’s stock in a transaction dated Friday, May 31st. The stock was sold at an average price of $1,021.86, for a total transaction of $255,465.00. Following the completion of the sale, the director now owns 4,357 shares in the company, valued at $4,452,244.02. The disclosure for this sale can be found here. In the last quarter, insiders sold 32,907 shares of company stock worth $35,293,228. Corporate insiders own 2.80% of the company’s stock.

Several institutional investors have recently bought and sold shares of AZO. Advisor Group Inc. grew its holdings in shares of AutoZone by 77.0% during the fourth quarter. Advisor Group Inc. now owns 947 shares of the company’s stock worth $794,000 after buying an additional 412 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in AutoZone by 5.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 68,217 shares of the company’s stock valued at $57,192,000 after purchasing an additional 3,663 shares during the last quarter. Berman Capital Advisors LLC acquired a new position in AutoZone during the fourth quarter valued at approximately $26,000. Stifel Financial Corp boosted its position in AutoZone by 112.4% during the fourth quarter. Stifel Financial Corp now owns 3,861 shares of the company’s stock valued at $3,248,000 after purchasing an additional 2,043 shares during the last quarter. Finally, Fort L.P. acquired a new position in AutoZone during the fourth quarter valued at approximately $121,000. Hedge funds and other institutional investors own 94.24% of the company’s stock.

About AutoZone

AutoZone, Inc retails and distributes automotive replacement parts and accessories. The company offers various products for cars, sport utility vehicles, vans, and light trucks, including new and remanufactured automotive hard parts, maintenance items, accessories, and non-automotive products. Its products include A/C compressors, batteries and accessories, bearings, belts and hoses, calipers, carburetors, chassis, clutches, CV axles, engines, fuel pumps, fuses, ignition and lighting products, mufflers, radiators, starters and alternators, thermostats, and water pumps.

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Analyst Recommendations for AutoZone (NYSE:AZO)

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