AutoZone (NYSE:AZO) had its price objective increased by Argus from $818.00 to $940.00 in a research report issued on Thursday, The Fly reports. The brokerage currently has a “buy” rating on the stock. Argus’ price target would indicate a potential upside of 8.03% from the stock’s current price.

Several other research firms also recently weighed in on AZO. Bank of America downgraded AutoZone from a “buy” rating to a “neutral” rating and set a $830.00 price objective for the company. in a research note on Monday, September 17th. Citigroup raised their price objective on AutoZone from $765.00 to $850.00 and gave the company a “buy” rating in a research note on Wednesday, September 19th. Royal Bank of Canada dropped their price objective on AutoZone from $779.00 to $775.00 and set a “sector perform” rating for the company in a research note on Wednesday, September 19th. Wells Fargo & Co raised their price objective on AutoZone from $800.00 to $850.00 and gave the company a “positive” rating in a research note on Thursday, September 13th. They noted that the move was a valuation call. Finally, Credit Suisse Group raised their price objective on AutoZone from $790.00 to $810.00 and gave the company an “outperform” rating in a research note on Wednesday, September 5th. Six analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $866.74.

NYSE AZO opened at $870.16 on Thursday. AutoZone has a 1-year low of $590.76 and a 1-year high of $894.37. The company has a market capitalization of $22.20 billion, a P/E ratio of 17.29, a PEG ratio of 1.22 and a beta of 0.89.

AutoZone (NYSE:AZO) last released its quarterly earnings data on Tuesday, December 4th. The company reported $13.47 earnings per share for the quarter, beating the consensus estimate of $12.21 by $1.26. AutoZone had a negative return on equity of 102.31% and a net margin of 12.49%. The firm had revenue of $2.64 billion during the quarter, compared to the consensus estimate of $2.64 billion. During the same period last year, the business posted $10.00 EPS. AutoZone’s quarterly revenue was up 2.0% on a year-over-year basis. As a group, equities analysts predict that AutoZone will post 59.05 earnings per share for the current fiscal year.

AutoZone announced that its Board of Directors has approved a share repurchase plan on Wednesday, September 26th that authorizes the company to buyback $1.25 billion in outstanding shares. This buyback authorization authorizes the company to reacquire up to 6.1% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its shares are undervalued.

In other AutoZone news, VP Charles Pleas III sold 9,500 shares of the stock in a transaction on Thursday, September 20th. The stock was sold at an average price of $759.85, for a total transaction of $7,218,575.00. Following the sale, the vice president now owns 13,862 shares in the company, valued at approximately $10,533,040.70. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP William T. Giles sold 13,500 shares of the stock in a transaction on Thursday, December 6th. The shares were sold at an average price of $870.11, for a total value of $11,746,485.00. Following the sale, the vice president now owns 13,119 shares in the company, valued at approximately $11,414,973.09. The disclosure for this sale can be found here. In the last quarter, insiders have sold 79,687 shares of company stock worth $63,373,093. 2.80% of the stock is owned by insiders.

A number of large investors have recently made changes to their positions in the business. Great Lakes Advisors LLC grew its holdings in AutoZone by 1.0% during the 3rd quarter. Great Lakes Advisors LLC now owns 2,037 shares of the company’s stock valued at $1,580,000 after buying an additional 20 shares during the last quarter. Clearbridge Investments LLC grew its holdings in AutoZone by 74.7% during the 3rd quarter. Clearbridge Investments LLC now owns 187,749 shares of the company’s stock valued at $145,637,000 after buying an additional 80,296 shares during the last quarter. Standard Life Aberdeen plc boosted its holdings in shares of 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 purchasing an additional 40,799 shares during the last quarter. Sawgrass Asset Management LLC boosted its holdings in shares of 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 purchasing an additional 17,830 shares during the last quarter. Finally, TIAA CREF Investment Management LLC boosted its holdings in shares of 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 purchasing an additional 50,369 shares during the last quarter. Hedge funds and other institutional investors 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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The Fly

Analyst Recommendations for AutoZone (NYSE:AZO)

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