AutoZone’s (AZO) Hold Rating Reaffirmed at Wedbush
Wedbush reaffirmed their hold rating on shares of AutoZone, Inc. (NYSE:AZO) in a research note published on Wednesday morning. The brokerage currently has a $580.00 target price on the stock, down from their previous target price of $590.00. Wedbush also issued estimates for AutoZone’s Q1 2018 earnings at $9.76 EPS, Q2 2018 earnings at $8.20 EPS, Q3 2018 earnings at $12.11 EPS, Q4 2018 earnings at $16.53 EPS, FY2018 earnings at $46.60 EPS and FY2019 earnings at $51.30 EPS.
Other analysts have also issued research reports about the company. Deutsche Bank AG cut their target price on AutoZone from $800.00 to $650.00 and set a hold rating on the stock in a research report on Thursday, May 25th. BTIG Research restated a buy rating and issued a $825.00 price target on shares of AutoZone in a research note on Wednesday, May 24th. CIBC reiterated a buy rating and set a $900.00 target price on shares of AutoZone in a research note on Wednesday, May 24th. Oppenheimer Holdings, Inc. set a $900.00 target price on shares of AutoZone and gave the stock a buy rating in a research note on Tuesday, May 23rd. Finally, Bank of America Corporation downgraded shares of AutoZone from a buy rating to a neutral rating and lowered their target price for the stock from $750.00 to $575.00 in a research note on Friday, July 7th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. AutoZone has an average rating of Hold and a consensus target price of $747.27.
AutoZone (NYSE:AZO) opened at 574.03 on Wednesday. The stock has a 50 day moving average price of $534.42 and a 200-day moving average price of $611.55. AutoZone has a 1-year low of $491.13 and a 1-year high of $813.70. The company has a market cap of $15.98 billion, a price-to-earnings ratio of 13.03 and a beta of 0.62.
AutoZone (NYSE:AZO) last released its earnings results on Tuesday, September 19th. The company reported $15.18 earnings per share for the quarter, topping the Zacks’ consensus estimate of $15.11 by $0.07. The business had revenue of $3.51 billion for the quarter, compared to analyst estimates of $3.49 billion. AutoZone had a net margin of 11.76% and a negative return on equity of 74.48%. The business’s revenue was up 3.3% on a year-over-year basis. During the same period last year, the company posted $14.30 EPS. On average, equities research analysts forecast that AutoZone will post $47.03 EPS for the current year.
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In related news, Director William Andrew Mckenna purchased 300 shares of the business’s stock in a transaction on Thursday, July 13th. The shares were bought 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 in the company, valued at approximately $2,601,417. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP William T. Giles sold 10,000 shares of the 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 transaction, the vice president now directly owns 18,500 shares in the company, valued at approximately $10,750,350. The disclosure for this sale can be found here. Company insiders own 2.60% of the company’s stock.
Large investors have recently bought and sold shares of the business. Iberiabank Corp raised its stake in AutoZone by 32.0% during the second quarter. Iberiabank Corp now owns 1,340 shares of the company’s stock worth $764,000 after purchasing an additional 325 shares during the period. Bronfman E.L. Rothschild L.P. raised its stake in AutoZone by 5.4% during the first quarter. Bronfman E.L. Rothschild L.P. now owns 448 shares of the company’s stock worth $324,000 after purchasing an additional 23 shares during the period. Pacer Advisors Inc. raised its stake in AutoZone by 2.2% during the first quarter. Pacer Advisors Inc. now owns 507 shares of the company’s stock worth $367,000 after purchasing an additional 11 shares during the period. State Street Corp raised its stake in AutoZone by 3.2% during the first quarter. State Street Corp now owns 1,296,527 shares of the company’s stock worth $937,455,000 after purchasing an additional 40,358 shares during the period. Finally, Tobam purchased a new position in AutoZone during the second quarter worth approximately $3,912,000. 96.08% of the stock is currently owned by institutional investors.
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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