AutoZone (NYSE:AZO) CFO Jamere Jackson Buys 55 Shares

AutoZone, Inc. (NYSE:AZO) CFO Jamere Jackson bought 55 shares of AutoZone stock in a transaction on Wednesday, December 10th. The shares were acquired at an average price of $3,413.50 per share, for a total transaction of $187,742.50. Following the completion of the acquisition, the chief financial officer owned 488 shares in the company, valued at $1,665,788. This represents a 12.70% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

AutoZone Stock Down 0.8%

NYSE:AZO opened at $3,440.41 on Friday. AutoZone, Inc. has a 52 week low of $3,162.00 and a 52 week high of $4,388.11. The company has a fifty day simple moving average of $3,838.77 and a two-hundred day simple moving average of $3,893.49. The company has a market cap of $57.22 billion, a price-to-earnings ratio of 23.99, a price-to-earnings-growth ratio of 1.64 and a beta of 0.40.

AutoZone (NYSE:AZO) last announced its quarterly earnings data on Tuesday, December 9th. The company reported $31.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $32.69 by ($1.65). AutoZone had a net margin of 12.78% and a negative return on equity of 65.38%. The company had revenue of $4.63 billion during the quarter, compared to analyst estimates of $4.64 billion. During the same quarter in the previous year, the business posted $32.52 earnings per share. The firm’s revenue was up 8.2% on a year-over-year basis. On average, analysts expect that AutoZone, Inc. will post 152.94 EPS for the current year.

AutoZone declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, October 8th that authorizes the company to repurchase $0.00 in shares. This repurchase authorization authorizes the company to buy shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on AZO shares. Robert W. Baird started coverage on shares of AutoZone in a research note on Wednesday, December 3rd. They set an “outperform” rating and a $4,500.00 target price on the stock. Jefferies Financial Group reissued a “buy” rating and issued a $4,400.00 price objective on shares of AutoZone in a research report on Wednesday. Evercore ISI restated an “outperform” rating and issued a $4,100.00 price objective on shares of AutoZone in a report on Wednesday. Raymond James Financial lowered their target price on shares of AutoZone from $4,800.00 to $4,600.00 and set a “strong-buy” rating for the company in a research note on Wednesday. Finally, Cowen restated a “buy” rating on shares of AutoZone in a research note on Thursday, September 18th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $4,365.35.

Institutional Trading of AutoZone

Large investors have recently made changes to their positions in the company. Laurel Wealth Advisors LLC lifted its stake in AutoZone by 371,123.0% in the second quarter. Laurel Wealth Advisors LLC now owns 935,482 shares of the company’s stock valued at $3,472,724,000 after buying an additional 935,230 shares during the last quarter. Norges Bank purchased a new position in shares of AutoZone during the second quarter worth approximately $981,202,000. Livforsakringsbolaget Skandia Omsesidigt increased its holdings in shares of AutoZone by 7,358.8% in the 2nd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 243,231 shares of the company’s stock valued at $902,929,000 after acquiring an additional 239,970 shares during the period. Vontobel Holding Ltd. raised its position in AutoZone by 277.3% in the 3rd quarter. Vontobel Holding Ltd. now owns 102,567 shares of the company’s stock valued at $440,037,000 after purchasing an additional 75,382 shares during the last quarter. Finally, Evelyn Partners Investment Management Services Ltd boosted its stake in AutoZone by 1,185.5% during the 2nd quarter. Evelyn Partners Investment Management Services Ltd now owns 64,685 shares of the company’s stock worth $240,126,000 after purchasing an additional 59,653 shares during the period. 92.74% of the stock is owned by institutional investors and hedge funds.

AutoZone Company Profile

AutoZone, Inc retails and distributes automotive replacement parts and accessories in the United States, Mexico, and Brazil. The company provides 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.