AutoZone, Inc. (NYSE:AZO) has earned a consensus recommendation of “Hold” from the twenty-seven analysts that are presently covering the stock, Marketbeat reports. Two analysts have rated the stock with a sell recommendation, eleven have assigned a hold recommendation, twelve have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $729.83.
A number of research analysts have recently weighed in on the company. Bank of America Corporation lowered AutoZone from a “buy” rating to a “neutral” rating and cut their price objective for the company from $750.00 to $575.00 in a report on Friday, July 7th. Citigroup Inc. reissued a “buy” rating and issued a $700.00 price objective on shares of AutoZone in a report on Wednesday, September 20th. UBS AG reissued a “buy” rating and issued a $655.00 price objective (down from $725.00) on shares of AutoZone in a report on Wednesday, September 20th. Wedbush reissued a “hold” rating and issued a $580.00 price objective (down from $590.00) on shares of AutoZone in a report on Wednesday, September 20th. Finally, Oppenheimer Holdings, Inc. cut their price objective on AutoZone and set an “outperform” rating on the stock in a report on Thursday, July 20th.
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In other AutoZone news, Director William Andrew Mckenna sold 3,000 shares of the stock in a transaction that occurred on Thursday, September 28th. The stock was sold at an average price of $584.96, for a total transaction of $1,754,880.00. Following the transaction, the director now owns 8,131 shares in the company, valued at $4,756,309.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 2.60% of the company’s stock.
Hedge funds have recently modified their holdings of the business. Iberiabank Corp boosted its position in AutoZone by 32.0% during the second quarter. Iberiabank Corp now owns 1,340 shares of the company’s stock worth $764,000 after purchasing an additional 325 shares in the last quarter. Tobam purchased a new position in AutoZone during the second quarter worth approximately $3,912,000. State Street Corp boosted its position in AutoZone by 3.2% during the first quarter. State Street Corp now owns 1,296,527 shares of the company’s stock worth $937,455,000 after purchasing an additional 40,358 shares in the last quarter. Bank of Montreal Can boosted its position in AutoZone by 8.9% during the second quarter. Bank of Montreal Can now owns 42,228 shares of the company’s stock worth $24,089,000 after purchasing an additional 3,447 shares in the last quarter. Finally, Private Management Group Inc. purchased a new position in AutoZone during the second quarter worth approximately $21,538,000. Institutional investors own 96.72% of the company’s stock.
AutoZone (NYSE:AZO) traded down 2.23% during midday trading on Thursday, reaching $592.79. The company had a trading volume of 103,539 shares. The company has a market capitalization of $16.50 billion, a P/E ratio of 13.45 and a beta of 0.64. The firm has a 50-day moving average of $572.23 and a 200 day moving average of $592.33. AutoZone has a 1-year low of $491.13 and a 1-year high of $813.70.
AutoZone (NYSE:AZO) last announced its earnings results on Tuesday, September 19th. The company reported $15.18 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $15.11 by $0.07. The company had revenue of $3.51 billion for the quarter, compared to analyst estimates of $3.49 billion. AutoZone had a negative return on equity of 74.48% and a net margin of 11.76%. The firm’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same period in the prior year, the company posted $14.30 EPS. On average, equities research analysts forecast that AutoZone will post $46.96 EPS for the current year.
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.
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