AutoZone Inc. (AZO) Sees Large Volume Increase
Shares of AutoZone Inc. (NYSE:AZO) saw unusually-strong trading volume on Tuesday . Approximately 265,876 shares traded hands during mid-day trading, an increase of 32% from the previous session’s volume of 200,843 shares.The stock last traded at $741.15 and had previously closed at $750.85.
A number of research analysts have recently commented on AZO shares. Argus reissued a “buy” rating on shares of AutoZone in a research report on Monday, May 2nd. Citigroup Inc. reaffirmed a “buy” rating on shares of AutoZone in a report on Thursday, August 25th. BTIG Research initiated coverage on shares of AutoZone in a report on Wednesday, June 1st. They set a “buy” rating and a $900.00 target price for the company. Credit Suisse Group AG reaffirmed a “buy” rating on shares of AutoZone in a report on Thursday, May 26th. Finally, Zacks Investment Research raised shares of AutoZone from a “hold” rating to a “buy” rating and set a $880.00 target price for the company in a report on Thursday, May 5th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $843.52.
The company has a market capitalization of $21.69 billion and a price-to-earnings ratio of 18.85. The stock has a 50-day moving average price of $793.53 and a 200-day moving average price of $780.64.
In other AutoZone news, insider Thomas B. Newbern sold 16,870 shares of the stock in a transaction dated Thursday, August 11th. The shares were sold at an average price of $799.82, for a total transaction of $13,492,963.40. Following the completion of the transaction, the insider now owns 15,977 shares in the company, valued at $12,778,724.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director William Andrew Mckenna sold 3,000 shares of the stock in a transaction dated Tuesday, July 5th. The stock was sold at an average price of $800.25, for a total transaction of $2,400,750.00. Following the transaction, the director now owns 7,597 shares of the company’s stock, valued at approximately $6,079,499.25. The disclosure for this sale can be found here.
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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