AutoZone (AZO) Receives Buy Rating from UBS
UBS reissued their buy rating on shares of AutoZone (NYSE:AZO) in a research note released on Wednesday morning. The brokerage currently has a $750.00 target price on the stock, up from their prior target price of $655.00.
Several other research analysts have also recently weighed in on the stock. Credit Suisse Group set a $640.00 price target on shares of AutoZone and gave the company a buy rating in a report on Wednesday, November 1st. Bank of America reissued a buy rating and issued a $625.00 price target on shares of AutoZone in a report on Tuesday, September 5th. Citigroup reissued a buy rating and issued a $700.00 price target on shares of AutoZone in a report on Wednesday, September 20th. Zacks Investment Research raised shares of AutoZone from a sell rating to a hold rating in a report on Tuesday, August 29th. Finally, Robert W. Baird reissued a hold rating and issued a $590.00 price target on shares of AutoZone in a report on Friday, October 27th. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. AutoZone has a consensus rating of Hold and a consensus price target of $729.20.
AutoZone (AZO) traded up $24.70 during trading on Wednesday, reaching $688.92. 1,076,400 shares of the company’s stock traded hands, compared to its average volume of 459,058. The company has a market cap of $18,940.00, a PE ratio of 15.07, a P/E/G ratio of 1.22 and a beta of 0.65. The company has a debt-to-equity ratio of -3.56, a quick ratio of 0.15 and a current ratio of 0.97. AutoZone has a 52-week low of $491.13 and a 52-week 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 for the quarter, beating the Thomson Reuters’ consensus estimate of $15.11 by $0.07. The firm had revenue of $3.51 billion for the quarter, compared to analysts’ expectations 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 in the prior year, the firm earned $14.30 EPS. equities analysts forecast that AutoZone will post 46.78 EPS for the current year.
In other news, Director William Andrew Mckenna sold 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 28th. The shares were sold at an average price of $584.96, for a total transaction of $1,754,880.00. Following the transaction, the director now directly owns 8,131 shares of the company’s stock, valued at $4,756,309.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.80% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Nippon Life Insurance Co. boosted its position in shares of AutoZone by 0.4% during the 2nd quarter. Nippon Life Insurance Co. now owns 2,022 shares of the company’s stock worth $1,153,000 after acquiring an additional 8 shares in the last quarter. Cetera Investment Advisers boosted its position in shares of AutoZone by 1.1% during the 2nd quarter. Cetera Investment Advisers now owns 730 shares of the company’s stock worth $417,000 after acquiring an additional 8 shares in the last quarter. Salem Investment Counselors Inc. boosted its position in shares of AutoZone by 3.5% during the 2nd quarter. Salem Investment Counselors Inc. now owns 264 shares of the company’s stock worth $151,000 after acquiring an additional 9 shares in the last quarter. Reliant Investment Management LLC boosted its position in shares of AutoZone by 2.1% during the 2nd quarter. Reliant Investment Management LLC now owns 715 shares of the company’s stock worth $408,000 after acquiring an additional 15 shares in the last quarter. Finally, Bbva Compass Bancshares Inc. boosted its position in shares of AutoZone by 5.2% during the 2nd quarter. Bbva Compass Bancshares Inc. now owns 386 shares of the company’s stock worth $220,000 after acquiring an additional 19 shares in the last quarter. Institutional investors and hedge funds own 98.80% of the company’s stock.
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.
Receive News & Ratings for AutoZone Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AutoZone Inc. and related companies with MarketBeat.com's FREE daily email newsletter.