Credit Suisse Group restated their buy rating on shares of AutoZone, Inc. (NYSE:AZO) in a research report sent to investors on Wednesday. The brokerage currently has a $583.00 price target on the stock.

AZO has been the subject of several other reports. Deutsche Bank AG reiterated a hold rating and set a $550.00 price target (down from $650.00) on shares of AutoZone in a research report on Friday, July 21st. Wedbush reiterated a neutral rating on shares of AutoZone in a research report on Thursday, July 6th. BidaskClub upgraded AutoZone from a strong sell rating to a sell rating in a research report on Monday, July 31st. BTIG Research reiterated a buy rating and set a $825.00 price target on shares of AutoZone in a research report on Wednesday, May 24th. Finally, Oppenheimer Holdings, Inc. reduced their price target on AutoZone and set an outperform rating for the company in a research report on Thursday, July 20th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of Hold and a consensus price target of $747.27.

Shares of AutoZone (AZO) opened at 574.03 on Wednesday. The company has a 50-day moving average of $534.42 and a 200 day moving average of $611.55. The stock has a market capitalization of $15.98 billion, a price-to-earnings ratio of 13.03 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 announced its quarterly earnings results on Tuesday, September 19th. The company reported $15.18 earnings per share for the quarter, beating the consensus estimate of $15.11 by $0.07. The company had revenue of $3.51 billion during the quarter, compared to analysts’ expectations of $3.49 billion. AutoZone had a negative return on equity of 74.48% and a net margin of 11.76%. AutoZone’s quarterly revenue was up 3.3% on a year-over-year basis. During the same period last year, the business earned $14.30 earnings per share. Analysts predict that AutoZone will post $47.03 earnings per share for the current year.

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In other news, VP William T. Giles sold 10,000 shares of AutoZone stock in a transaction that occurred on Tuesday, June 27th. The stock was sold at an average price of $581.10, for a total value of $5,811,000.00. Following the sale, the vice president now directly owns 18,500 shares of the company’s stock, valued at $10,750,350. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director William Andrew Mckenna purchased 300 shares of the stock in a transaction dated Thursday, July 13th. The stock was purchased at an average cost of $507.00 per share, for a total transaction 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 $2,601,417. The disclosure for this purchase can be found here. Insiders own 2.60% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Burgundy Asset Management Ltd. boosted its stake in AutoZone by 47.1% during the second quarter. Burgundy Asset Management Ltd. now owns 590,132 shares of the company’s stock worth $336,647,000 after buying an additional 188,854 shares during the last quarter. Pinnacle Family Advisors LLC acquired a new position in AutoZone during the second quarter worth $311,000. Sentry Investment Management LLC boosted its stake in AutoZone by 3.4% during the second quarter. Sentry Investment Management LLC now owns 2,273 shares of the company’s stock worth $1,297,000 after buying an additional 74 shares during the last quarter. WFG Advisors LP boosted its stake in AutoZone by 46.3% during the second quarter. WFG Advisors LP now owns 540 shares of the company’s stock worth $308,000 after buying an additional 171 shares during the last quarter. Finally, Toronto Dominion Bank boosted its stake in AutoZone by 52.5% during the second quarter. Toronto Dominion Bank now owns 12,747 shares of the company’s stock worth $7,273,000 after buying an additional 4,388 shares during the last quarter. 96.08% of the stock is currently owned by 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.

Analyst Recommendations for AutoZone (NYSE:AZO)

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