AutoZone, Inc. (NYSE:AZO) Stock Rating Reaffirmed by Deutsche Bank AG
AutoZone, Inc. (NYSE:AZO)‘s stock had its “hold” rating reaffirmed by Deutsche Bank AG in a research report issued to clients and investors on Friday. They presently have a $550.00 target price on the stock, down from their previous target price of $650.00. Deutsche Bank AG’s target price points to a potential upside of 7.54% from the company’s previous close.
A number of other analysts have also recently weighed in on the company. Oppenheimer Holdings, Inc. set a $900.00 price target on AutoZone and gave the company a “buy” rating in a research report on Tuesday, May 23rd. Cleveland Research cut AutoZone from a “buy” rating to a “neutral” rating in a research report on Monday, April 3rd. ValuEngine upgraded AutoZone from a “hold” rating to a “buy” rating in a research report on Wednesday, May 24th. Citigroup Inc. lowered their price target on AutoZone from $920.00 to $750.00 and set a “buy” rating on the stock in a research report on Thursday, May 25th. Finally, Jefferies Group LLC reiterated a “hold” rating and issued a $810.00 price target on shares of AutoZone in a research report on Tuesday, April 18th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. AutoZone has an average rating of “Hold” and a consensus target price of $775.91.
Shares of AutoZone (NYSE:AZO) opened at 511.46 on Friday. AutoZone has a 1-year low of $491.13 and a 1-year high of $818.00. The firm has a 50-day moving average price of $562.64 and a 200-day moving average price of $677.76. The company has a market capitalization of $14.34 billion, a PE ratio of 11.81 and a beta of 0.62.
AutoZone (NYSE:AZO) last announced its quarterly earnings results on Tuesday, May 23rd. The company reported $11.44 earnings per share for the quarter, missing analysts’ consensus estimates of $12.00 by $0.56. AutoZone had a net margin of 11.82% and a negative return on equity of 70.52%. The company had revenue of $2.62 billion during the quarter, compared to the consensus estimate of $2.70 billion. During the same quarter last year, the company earned $10.77 earnings per share. The business’s revenue was up 1.0% on a year-over-year basis. Equities analysts anticipate that AutoZone will post $44.01 earnings per share for the current year.
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In other news, Director William Andrew Mckenna purchased 300 shares of the business’s stock in a transaction dated Thursday, July 13th. The shares were acquired at an average price of $507.00 per share, with a total value of $152,100.00. Following the completion of the purchase, the director now directly owns 5,131 shares of the company’s stock, valued at approximately $2,601,417. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Earl G. Graves, Jr. sold 1,000 shares of the company’s stock in a transaction on Thursday, June 8th. The shares were sold at an average price of $602.50, for a total value of $602,500.00. Following the transaction, the director now directly owns 4,431 shares in the company, valued at approximately $2,669,677.50. The disclosure for this sale can be found here. Corporate insiders own 2.60% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in AZO. American Beacon Advisors Inc. bought a new position in AutoZone during the first quarter valued at $104,000. Alpha Windward LLC raised its position in AutoZone by 3.2% in the second quarter. Alpha Windward LLC now owns 259 shares of the company’s stock valued at $148,000 after buying an additional 8 shares during the last quarter. Colony Group LLC bought a new position in AutoZone during the first quarter valued at $205,000. Global X Management Co. LLC raised its position in AutoZone by 26.5% in the first quarter. Global X Management Co. LLC now owns 286 shares of the company’s stock valued at $207,000 after buying an additional 60 shares during the last quarter. Finally, Fox Run Management L.L.C. bought a new position in AutoZone during the first quarter valued at $213,000. 96.79% of the stock is currently owned by hedge funds and other institutional investors.
AutoZone Company Profile
Autozone, Inc is a retailer and distributor of automotive replacement parts and accessories in the United States. The Company operates through the Auto Parts Locations segment. The Auto Parts Locations segment is a retailer and distributor of automotive parts and accessories. As of August 27, 2016, the Company operated through 5,814 locations in the United States, Puerto Rico, Mexico and Brazil.
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