AutoZone’s (AZO) Buy Rating Reiterated at UBS AG
UBS AG reaffirmed their buy rating on shares of AutoZone, Inc. (NYSE:AZO) in a research report released on Wednesday, www.flashratings.com reports. The firm currently has a $655.00 price objective on the stock, down from their prior price objective of $725.00.
Several other equities analysts have also recently commented on the company. Credit Suisse Group restated a buy rating and set a $583.00 target price on shares of AutoZone in a research report on Wednesday. Citigroup Inc. reaffirmed a buy rating and set a $700.00 price target on shares of AutoZone in a research note on Wednesday. Royal Bank Of Canada dropped their price target on AutoZone from $577.00 to $571.00 and set a sector perform rating for the company in a research note on Wednesday. Wedbush reaffirmed a hold rating and set a $580.00 price target (down previously from $590.00) on shares of AutoZone in a research note on Wednesday. Finally, Bank of America Corporation reaffirmed a buy rating and set a $625.00 price target on shares of AutoZone in a research note on Tuesday, September 5th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of Hold and an average price target of $747.27.
Shares of AutoZone (NYSE AZO) opened at 574.03 on Wednesday. The company’s 50 day moving average price is $534.42 and its 200 day moving average price is $611.55. The company has a market capitalization of $16.09 billion, a P/E ratio of 13.26 and a beta of 0.62. AutoZone has a 12 month low of $491.13 and a 12 month high of $813.70.
AutoZone (NYSE:AZO) last posted its earnings results on Tuesday, September 19th. The company reported $15.18 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $15.11 by $0.07. AutoZone had a negative return on equity of 74.48% and a net margin of 11.76%. The business had revenue of $3.51 billion during the quarter, compared to analysts’ expectations of $3.49 billion. During the same period in the previous year, the business earned $14.30 earnings per share. The firm’s revenue was up 3.3% on a year-over-year basis. Analysts expect that AutoZone will post $47.03 EPS for the current fiscal year.
In other AutoZone news, VP William T. Giles sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 27th. The stock was sold at an average price of $581.10, for a total transaction of $5,811,000.00. Following the completion of the transaction, the vice president now owns 18,500 shares of the company’s stock, valued at approximately $10,750,350. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director William Andrew Mckenna purchased 300 shares of the stock in a transaction on Thursday, July 13th. The shares were acquired at an average cost of $507.00 per share, with a total value of $152,100.00. Following the transaction, the director now directly owns 5,131 shares in the company, valued at $2,601,417. The disclosure for this purchase can be found here. Corporate insiders own 2.60% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. American Beacon Advisors Inc. bought a new position in AutoZone during the 1st quarter valued at approximately $104,000. Fieldpoint Private Securities LLC bought a new position in AutoZone during the 2nd quarter valued at approximately $114,000. Alpha Windward LLC raised its position in AutoZone by 3.2% during the 2nd quarter. Alpha Windward LLC now owns 259 shares of the company’s stock valued at $148,000 after purchasing an additional 8 shares during the last quarter. Salem Investment Counselors Inc. raised its position in AutoZone by 3.5% during the 2nd quarter. Salem Investment Counselors Inc. now owns 264 shares of the company’s stock valued at $151,000 after purchasing an additional 9 shares during the last quarter. Finally, Colony Group LLC bought a new position in AutoZone during the 1st quarter valued at approximately $205,000. 96.08% of the stock is owned by institutional investors and hedge funds.
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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