Traders Sell Shares of AutoZone (AZO) on Strength (AZO)

Investors sold shares of AutoZone, Inc. (NYSE:AZO) on strength during trading on Tuesday. $72.50 million flowed into the stock on the tick-up and $120.66 million flowed out of the stock on the tick-down, for a money net flow of $48.16 million out of the stock. Of all companies tracked, AutoZone had the 0th highest net out-flow for the day. AutoZone traded up $4.47 for the day and closed at $770.95

A number of equities analysts have issued reports on the stock. Credit Suisse Group set a $790.00 price objective on shares of AutoZone and gave the company a “hold” rating in a research report on Thursday, January 4th. Stephens reaffirmed a “hold” rating and set a $550.00 target price (down previously from $620.00) on shares of AutoZone in a research note on Thursday, September 21st. Royal Bank of Canada cut their target price on shares of AutoZone from $577.00 to $571.00 and set a “sector perform” rating on the stock in a research note on Wednesday, September 20th. Wedbush reaffirmed a “hold” rating and set a $580.00 target price (down previously from $590.00) on shares of AutoZone in a research note on Wednesday, September 20th. Finally, Citigroup lifted their target price on shares of AutoZone to $820.00 and gave the company a “buy” rating in a research note on Wednesday, December 6th. Three investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and eight have issued a buy rating to the company’s stock. AutoZone has a consensus rating of “Hold” and an average target price of $726.06.

The company has a debt-to-equity ratio of -3.27, a current ratio of 0.93 and a quick ratio of 0.14. The firm has a market cap of $21,000.00, a P/E ratio of 17.10, a P/E/G ratio of 1.42 and a beta of 0.71.

AutoZone (NYSE:AZO) last posted its quarterly earnings data on Tuesday, December 5th. The company reported $10.00 EPS for the quarter, topping the consensus estimate of $9.90 by $0.10. AutoZone had a net margin of 11.66% and a negative return on equity of 78.83%. The business had revenue of $2.59 billion for the quarter, compared to analyst estimates of $2.54 billion. During the same quarter in the previous year, the firm posted $9.36 earnings per share. AutoZone’s quarterly revenue was up 4.9% on a year-over-year basis. analysts forecast that AutoZone, Inc. will post 46.73 EPS for the current year.

In related news, Chairman William C. Rhodes III sold 26,500 shares of the business’s stock in a transaction dated Thursday, December 7th. The shares were sold at an average price of $701.84, for a total transaction of $18,598,760.00. Following the sale, the chairman now owns 11,464 shares of the company’s stock, valued at $8,045,893.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider James C. Griffith sold 3,623 shares of the business’s stock in a transaction dated Wednesday, December 6th. The stock was sold at an average price of $698.17, for a total transaction of $2,529,469.91. Following the sale, the insider now directly owns 2,016 shares in the company, valued at approximately $1,407,510.72. The disclosure for this sale can be found here. Insiders have sold 93,173 shares of company stock worth $66,316,676 in the last three months. 2.80% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently modified their holdings of AZO. Nordea Investment Management AB lifted its stake in shares of AutoZone by 44.9% in the second quarter. Nordea Investment Management AB now owns 1,027,095 shares of the company’s stock worth $585,917,000 after buying an additional 318,188 shares in the last quarter. Koch Industries Inc. bought a new position in shares of AutoZone in the second quarter worth approximately $297,000. JPMorgan Chase & Co. lifted its stake in shares of AutoZone by 27.8% in the third quarter. JPMorgan Chase & Co. now owns 1,301,355 shares of the company’s stock worth $764,272,000 after buying an additional 282,939 shares in the last quarter. Alyeska Investment Group L.P. bought a new position in shares of AutoZone in the third quarter worth approximately $141,811,000. Finally, Ameriprise Financial Inc. lifted its stake in shares of AutoZone by 802.6% in the third quarter. Ameriprise Financial Inc. now owns 236,396 shares of the company’s stock worth $140,681,000 after buying an additional 210,205 shares in the last quarter. Hedge funds and other institutional investors own 99.33% of the company’s stock.

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About AutoZone

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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