Clarus Wealth Advisors lowered its stake in AutoZone, Inc. (NYSE:AZO) by 6.1% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 201 shares of the company’s stock after selling 13 shares during the quarter. Clarus Wealth Advisors’ holdings in AutoZone were worth $218,000 as of its most recent SEC filing.
A number of other hedge funds also recently made changes to their positions in AZO. Meridian Wealth Management LLC purchased a new stake in AutoZone in the 1st quarter worth $26,000. Coastal Investment Advisors Inc. purchased a new stake in AutoZone in the 2nd quarter worth $26,000. Virtus ETF Advisers LLC purchased a new stake in AutoZone in the 2nd quarter worth $27,000. Redhawk Wealth Advisors Inc. purchased a new stake in shares of AutoZone during the 2nd quarter valued at about $31,000. Finally, Advantage Investment Management LLC raised its position in shares of AutoZone by 46.4% during the 2nd quarter. Advantage Investment Management LLC now owns 41 shares of the company’s stock valued at $45,000 after buying an additional 13 shares in the last quarter. Institutional investors and hedge funds own 94.21% of the company’s stock.
Several brokerages have recently issued reports on AZO. Oppenheimer upgraded shares of AutoZone from a “market perform” rating to an “outperform” rating and upped their target price for the company from $900.00 to $1,225.00 in a research report on Friday, June 28th. Citigroup upped their target price on shares of AutoZone from $1,234.00 to $1,357.00 and gave the company a “buy” rating in a research report on Friday, September 13th. Royal Bank of Canada upped their target price on shares of AutoZone from $1,091.00 to $1,097.00 and gave the company a “sector perform” rating in a research report on Wednesday, September 25th. Goldman Sachs Group began coverage on shares of AutoZone in a research report on Thursday, July 11th. They set a “neutral” rating and a $1,183.00 target price on the stock. Finally, CIBC upgraded shares of AutoZone from a “market perform” rating to an “outperform” rating in a research report on Friday, June 28th. Five investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $1,135.63.
Shares of NYSE:AZO opened at $1,085.97 on Friday. The company has a market capitalization of $25.96 billion, a price-to-earnings ratio of 16.66, a PEG ratio of 1.33 and a beta of 0.63. AutoZone, Inc. has a 12 month low of $705.01 and a 12 month high of $1,186.60. The firm’s 50-day moving average is $1,105.59 and its 200 day moving average is $1,083.20.
AutoZone (NYSE:AZO) last issued its quarterly earnings results on Tuesday, September 24th. The company reported $22.59 EPS for the quarter, beating the consensus estimate of $21.80 by $0.79. The company had revenue of $3.99 billion for the quarter, compared to the consensus estimate of $3.93 billion. AutoZone had a net margin of 13.63% and a negative return on equity of 98.67%. The firm’s revenue was up 12.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $18.54 EPS. As a group, analysts predict that AutoZone, Inc. will post 65.22 earnings per share for the current fiscal year.
AutoZone Company Profile
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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