Oppenheimer Holdings, Inc. Reaffirms Buy Rating for AutoZone, Inc. (AZO)
Several other research analysts also recently issued reports on the company. Stephens reaffirmed a hold rating and set a $550.00 price target (down previously from $620.00) on shares of AutoZone in a research note on Thursday. UBS AG reaffirmed a buy rating and set a $655.00 price target (down previously from $725.00) on shares of AutoZone in a research note on Wednesday, September 20th. Credit Suisse Group reaffirmed a buy rating and set a $583.00 price target on shares of AutoZone in a research note on Wednesday, September 20th. Citigroup Inc. reaffirmed a buy rating and set a $700.00 price target on shares of AutoZone in a research note on Wednesday, September 20th. Finally, Royal Bank Of Canada cut 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, September 20th. Two research 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 stock has an average rating of Hold and a consensus target price of $747.27.
Shares of AutoZone (NYSE:AZO) opened at 574.03 on Thursday. The stock has a market cap of $15.98 billion, a price-to-earnings ratio of 13.03 and a beta of 0.62. The stock’s 50 day moving average is $534.42 and its 200-day moving average is $611.55. AutoZone has a 12-month low of $491.13 and a 12-month high of $813.70.
AutoZone (NYSE:AZO) last released its quarterly earnings results on Tuesday, September 19th. The company reported $15.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $15.11 by $0.07. The business had revenue of $3.51 billion during the quarter, compared to the consensus estimate of $3.49 billion. AutoZone had a negative return on equity of 74.48% and a net margin of 11.76%. The business’s revenue was up 3.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $14.30 EPS. Equities analysts anticipate that AutoZone will post $47.03 EPS for the current fiscal year.
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In other news, VP William T. Giles sold 10,000 shares of the business’s stock in a transaction dated 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 sale, the vice president now owns 18,500 shares in the company, valued at approximately $10,750,350. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director William Andrew Mckenna bought 300 shares of the firm’s stock in a transaction dated Thursday, July 13th. The shares were purchased at an average price of $507.00 per share, with a total value of $152,100.00. Following the acquisition, the director now directly owns 5,131 shares in the company, valued at approximately $2,601,417. The disclosure for this purchase can be found here. 2.60% of the stock is owned by insiders.
Several large investors have recently modified their holdings of AZO. BlackRock Inc. grew its holdings in shares of AutoZone by 2,993.2% during the 1st quarter. BlackRock Inc. now owns 2,029,985 shares of the company’s stock worth $1,467,778,000 after purchasing an additional 1,964,358 shares during the period. JPMorgan Chase & Co. grew its holdings in shares of AutoZone by 59.7% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,018,416 shares of the company’s stock worth $580,966,000 after purchasing an additional 380,824 shares during the period. OppenheimerFunds Inc. grew its holdings in shares of AutoZone by 103.6% during the 1st quarter. OppenheimerFunds Inc. now owns 693,624 shares of the company’s stock worth $501,525,000 after purchasing an additional 352,990 shares during the period. Nordea Investment Management AB grew its holdings in shares of AutoZone by 44.9% during the 2nd quarter. Nordea Investment Management AB now owns 1,027,095 shares of the company’s stock worth $585,917,000 after purchasing an additional 318,188 shares during the period. Finally, Koch Industries Inc. purchased a new stake in shares of AutoZone during the 2nd quarter worth about $297,000. Institutional investors and hedge funds own 96.08% of the company’s stock.
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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