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.

About AutoZone

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.

Analyst Recommendations for AutoZone (NYSE:AZO)

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