AutoZone (NYSE:AZO) had its price objective lifted by investment analysts at Credit Suisse Group from $854.00 to $930.00 in a research report issued on Thursday. The brokerage presently has an “outperform” rating on the stock. Credit Suisse Group’s target price would suggest a potential upside of 6.06% from the stock’s previous close.

Several other research firms also recently commented on AZO. Argus decreased their price objective on shares of AutoZone to $820.00 and set a “buy” rating on the stock in a report on Thursday, August 30th. Morgan Stanley upped their price objective on shares of AutoZone from $760.00 to $800.00 and gave the company an “equal weight” rating in a report on Tuesday, November 6th. Zacks Investment Research upgraded shares of AutoZone from a “hold” rating to a “buy” rating and set a $860.00 price objective on the stock in a report on Tuesday, August 28th. Stephens reiterated a “buy” rating and issued a $825.00 price objective on shares of AutoZone in a report on Wednesday, September 19th. They noted that the move was a valuation call. Finally, JPMorgan Chase & Co. upped their price objective on shares of AutoZone to $880.00 and gave the company an “overweight” rating in a report on Wednesday, September 19th. Seven investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. AutoZone currently has an average rating of “Buy” and an average target price of $851.24.

NYSE AZO traded down $3.24 on Thursday, hitting $876.83. 11,723 shares of the stock were exchanged, compared to its average volume of 357,668. AutoZone has a 52 week low of $590.76 and a 52 week high of $894.37. The firm has a market capitalization of $22.49 billion, a P/E ratio of 17.42, a price-to-earnings-growth ratio of 1.23 and a beta of 0.89.

AutoZone (NYSE:AZO) last posted its quarterly earnings results on Tuesday, December 4th. The company reported $13.47 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $12.21 by $1.26. AutoZone had a net margin of 12.49% and a negative return on equity of 102.31%. The firm had revenue of $2.64 billion for the quarter, compared to analyst estimates of $2.64 billion. During the same period in the prior year, the firm posted $10.00 earnings per share. The company’s quarterly revenue was up 2.0% compared to the same quarter last year. As a group, sell-side analysts expect that AutoZone will post 58.25 EPS for the current fiscal year.

AutoZone declared that its board has approved a stock buyback plan on Wednesday, September 26th that allows the company to repurchase $1.25 billion in outstanding shares. This repurchase authorization allows the company to repurchase up to 6.1% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

In related news, insider Rodney C. Halsell sold 5,387 shares of the company’s stock in a transaction dated Friday, November 2nd. The shares were sold at an average price of $751.21, for a total value of $4,046,768.27. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Charles Pleas III sold 9,500 shares of the company’s stock in a transaction dated Thursday, September 20th. The shares were sold at an average price of $759.85, for a total transaction of $7,218,575.00. Following the completion of the transaction, the vice president now owns 13,862 shares in the company, valued at $10,533,040.70. The disclosure for this sale can be found here. Insiders sold 60,487 shares of company stock worth $46,667,608 over the last 90 days. 2.80% of the stock is currently owned by corporate insiders.

Several hedge funds have recently added to or reduced their stakes in the stock. Great Lakes Advisors LLC grew its stake in shares of AutoZone by 1.0% in the third quarter. Great Lakes Advisors LLC now owns 2,037 shares of the company’s stock valued at $1,580,000 after acquiring an additional 20 shares in the last quarter. Clearbridge Investments LLC grew its stake in AutoZone by 74.7% during the third quarter. Clearbridge Investments LLC now owns 187,749 shares of the company’s stock worth $145,637,000 after buying an additional 80,296 shares in the last quarter. Standard Life Aberdeen plc grew its stake in AutoZone by 310.8% during the third quarter. Standard Life Aberdeen plc now owns 53,927 shares of the company’s stock worth $41,830,000 after buying an additional 40,799 shares in the last quarter. Sawgrass Asset Management LLC grew its stake in AutoZone by 54.4% during the third quarter. Sawgrass Asset Management LLC now owns 50,591 shares of the company’s stock worth $39,243,000 after buying an additional 17,830 shares in the last quarter. Finally, TIAA CREF Investment Management LLC grew its stake in AutoZone by 50.7% during the third quarter. TIAA CREF Investment Management LLC now owns 149,691 shares of the company’s stock worth $116,115,000 after buying an additional 50,369 shares in the last quarter. Institutional investors and hedge funds own 92.10% of the company’s stock.

AutoZone Company Profile

AutoZone Inc retails and distributes automotive replacement parts and accessories. The company offers various products for cars, sport utility vehicles, vans, and light trucks, including new and remanufactured automotive hard parts, maintenance items, accessories, and non-automotive products. Its products include A/C compressors, batteries and accessories, bearings, belts and hoses, calipers, carburetors, chassis, clutches, CV axles, engines, fuel pumps, fuses, ignition and lighting products, mufflers, radiators, starters and alternators, thermostats, and water pumps.

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Analyst Recommendations for AutoZone (NYSE:AZO)

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