AutoZone Inc. (AZO) Sees Large Volume Increase
Shares of AutoZone Inc. (NYSE:AZO) saw unusually-high 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.
AZO has been the topic of several research analyst reports. Zacks Investment Research cut shares of AutoZone from a “hold” rating to a “sell” rating in a report on Tuesday, July 26th. Susquehanna initiated coverage on shares of AutoZone in a report on Thursday, August 25th. They issued a “neutral” rating and a $810.00 price target on the stock. Morgan Stanley set a $820.00 price target on shares of AutoZone and gave the company a “hold” rating in a report on Thursday, August 11th. Argus reissued a “buy” rating and issued a $875.00 price target on shares of AutoZone in a report on Sunday, July 10th. Finally, Jefferies Group initiated coverage on shares of AutoZone in a report on Thursday, May 26th. They issued a “hold” rating on the stock. One analyst has rated the stock with a sell rating, nine have given a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company. AutoZone currently has a consensus rating of “Buy” and a consensus price target of $843.52.
The stock has a market capitalization of $21.76 billion and a price-to-earnings ratio of 18.92. The firm has a 50-day moving average price of $791.88 and a 200 day moving average price of $780.36.
In related news, VP Philip B. Daniele sold 6,700 shares of the company’s stock in a transaction that occurred on Monday, June 13th. The shares were sold at an average price of $755.40, for a total transaction of $5,061,180.00. Following the sale, the vice president now owns 3,638 shares of the company’s stock, valued at approximately $2,748,145.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Thomas B. Newbern sold 16,870 shares of the company’s stock in a transaction that occurred on Thursday, August 11th. The stock was sold at an average price of $799.82, for a total transaction of $13,492,963.40. Following the sale, the insider now directly owns 15,977 shares in the company, valued at approximately $12,778,724.14. 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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