AutoZone (NYSE:AZO)‘s stock had its “neutral” rating reissued by stock analysts at Guggenheim in a research report issued to clients and investors on Tuesday.
Other research analysts have also recently issued reports about the company. Zacks Investment Research raised AutoZone from a “hold” rating to a “buy” rating and set a $819.00 price objective for the company in a research report on Tuesday, February 6th. Argus upped their price objective on AutoZone from $675.00 to $875.00 and gave the stock a “buy” rating in a research report on Friday, February 2nd. Credit Suisse Group raised AutoZone to a “buy” rating and set a $790.00 price objective for the company in a research report on Friday, March 2nd. Citigroup lowered their price objective on AutoZone from $820.00 to $790.00 and set a “buy” rating for the company in a research report on Thursday, March 1st. Finally, Morgan Stanley lowered their price objective on AutoZone from $800.00 to $750.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 28th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and eleven have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $758.72.
NYSE:AZO opened at $608.53 on Tuesday. The stock has a market cap of $16,496.66, a PE ratio of 12.89, a price-to-earnings-growth ratio of 0.98 and a beta of 0.84. AutoZone has a 1 year low of $491.13 and a 1 year high of $797.89. The company has a quick ratio of 0.15, a current ratio of 0.98 and a debt-to-equity ratio of -3.79.
AutoZone (NYSE:AZO) last released its quarterly earnings data on Tuesday, February 27th. The company reported $8.47 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $8.81 by ($0.34). The business had revenue of $2.41 billion for the quarter, compared to analyst estimates of $2.39 billion. AutoZone had a negative return on equity of 88.86% and a net margin of 12.00%. The company’s revenue was up 5.4% compared to the same quarter last year. During the same period in the prior year, the company posted $7.75 earnings per share. research analysts forecast that AutoZone will post 48.81 earnings per share for the current year.
AutoZone announced that its Board of Directors has initiated a share repurchase plan on Tuesday, March 20th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the company to repurchase shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.
In related news, Director Douglas H. Brooks acquired 162 shares of the firm’s stock in a transaction on Monday, April 16th. The stock was bought at an average cost of $607.49 per share, with a total value of $98,413.38. Following the transaction, the director now owns 1,904 shares of the company’s stock, valued at $1,156,660.96. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider James C. Griffith sold 1,250 shares of the stock in a transaction that occurred on Friday, January 19th. The stock was sold at an average price of $794.70, for a total value of $993,375.00. Following the sale, the insider now directly owns 1,353 shares of the company’s stock, valued at $1,075,229.10. The disclosure for this sale can be found here. 2.60% of the stock is owned by corporate insiders.
Institutional investors have recently bought and sold shares of the business. Midas Management Corp acquired a new stake in AutoZone during the 4th quarter worth approximately $3,522,000. Dimensional Fund Advisors LP lifted its position in AutoZone by 2.6% during the 3rd quarter. Dimensional Fund Advisors LP now owns 58,155 shares of the company’s stock worth $34,604,000 after acquiring an additional 1,473 shares during the period. Delta Asset Management LLC TN lifted its position in AutoZone by 82.4% during the 4th quarter. Delta Asset Management LLC TN now owns 664 shares of the company’s stock worth $472,000 after acquiring an additional 300 shares during the period. BB&T Corp acquired a new stake in AutoZone during the 4th quarter worth approximately $220,000. Finally, Shell Asset Management Co. acquired a new stake in AutoZone during the 4th quarter worth approximately $6,084,000. 95.86% of the stock is owned by institutional investors.
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AutoZone Company Profile
AutoZone, Inc retails and distributes automotive replacement parts and accessories. It 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. The company's 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, thermostats, starters and alternators, and water pumps.
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