Credit Suisse Group Reaffirms Buy Rating for AutoZone, Inc. (AZO)
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.
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