AutoZone (NYSE: AZO) recently received a number of ratings updates from brokerages and research firms:

  • 9/19/2016 – AutoZone was given a new $841.00 price target on by analysts at Goldman Sachs Group Inc.. They now have a “hold” rating on the stock.
  • 9/17/2016 – AutoZone was given a new $870.00 price target on by analysts at Credit Suisse Group AG. They now have a “buy” rating on the stock.
  • 9/12/2016 – AutoZone was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “AutoZone is focused on increasing sales through store expansion and boosting earnings via aggressive share repurchases. Moreover, the rising average age of cars on U.S. roads is leading to higher demand for auto parts. AutoZone expects its capital and operating expenses to rise over the next three years due to its plans to open new distribution centers. The company is also increasing the frequency of deliveries to its stores. While AutoZone expects this strategy to be advantageous in the long term, its implementation is leading to gross margin headwinds of around 20 basis points every quarter due to higher supply chain costs. AutoZone’s estimates have been stable lately ahead of the company’s fourth quarter earnings release. The company has a mostly positive record of earnings surprises in recent quarters, although it missed estimates in the last quarter.”
  • 9/1/2016 – AutoZone was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “AutoZone expects its capital and operating expenses to rise over the next three years due to its plans to open new distribution centers. The company is also increasing the frequency of deliveries to its stores to three or five times a week from once. While AutoZone expects this strategy to be advantageous in the long term, its implementation is leading to gross margin headwinds of around 20 basis points every quarter due to higher supply chain costs. Further, the company is facing currency headwinds. AutoZone’s estimates have been stable lately ahead of the company’s fourth quarter earnings release. The company has a mostly positive record of earnings surprises in recent quarters, although it missed estimates in the last quarter.”
  • 8/25/2016 – AutoZone had its “buy” rating reaffirmed by analysts at Citigroup Inc..
  • 8/25/2016 – AutoZone is now covered by analysts at Susquehanna. They set a “neutral” rating and a $810.00 price target on the stock.
  • 8/11/2016 – AutoZone was given a new $820.00 price target on by analysts at Morgan Stanley. They now have a “hold” rating on the stock.
  • 7/26/2016 – AutoZone was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “AutoZone expects its capital and operating expenses to rise over the next three years due to its plans to open new distribution centers. The company is also increasing the frequency of deliveries to its stores to three or five times a week from once. While AutoZone expects this strategy to be advantageous in the long term, its implementation is leading to gross margin headwinds of around 20 basis points every quarter due to higher supply chain costs. Further, the company is facing currency headwinds. AutoZone’s estimates have been stable lately ahead of the company’s fourth quarter earnings release. The company has a mostly positive record of earnings surprises in recent quarters, although it missed estimates in the last quarter.”

AutoZone Inc. (NYSE:AZO) traded up 0.41% during mid-day trading on Wednesday, reaching $747.10. 143,563 shares of the company were exchanged. The company has a 50 day moving average of $768.18 and a 200-day moving average of $777.28. The company has a market capitalization of $21.84 billion, a price-to-earnings ratio of 18.98 and a beta of 0.42. AutoZone Inc. has a 1-year low of $681.01 and a 1-year high of $819.54.

In related news, VP Albert Saltiel sold 1,650 shares of the business’s stock in a transaction dated Wednesday, July 6th. The shares were sold at an average price of $807.52, for a total transaction of $1,332,408.00. Following the transaction, the vice president now directly owns 1,734 shares in the company, valued at $1,400,239.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director William Andrew Mckenna sold 3,000 shares of the business’s 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 in the company, valued at $6,079,499.25. The disclosure for this sale can be found here. 2.40% of the stock is currently owned by insiders.

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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