AutoZone, Inc. (AZO) Given Average Recommendation of “Hold” by Analysts

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.

Analyst Recommendations for AutoZone (NYSE:AZO)

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