Wedbush restated their outperform rating on shares of AutoZone (NYSE:AZO) in a report released on Friday morning. The firm currently has a $770.00 price objective on the stock.
Several other analysts also recently issued reports on AZO. Guggenheim reiterated a neutral rating on shares of AutoZone in a report on Tuesday, April 17th. Wells Fargo & Co started coverage on AutoZone in a report on Monday, April 23rd. They issued an outperform rating and a $700.00 price target for the company. Argus reiterated a buy rating and issued a $850.00 price target (down from $875.00) on shares of AutoZone in a report on Wednesday, April 25th. ValuEngine downgraded AutoZone from a hold rating to a sell rating in a report on Wednesday, May 2nd. Finally, Goldman Sachs Group upgraded AutoZone from a buy rating to a conviction-buy rating and set a $491.13 price target for the company in a report on Monday, May 7th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. AutoZone has a consensus rating of Hold and a consensus price target of $735.48.
Shares of AZO stock traded down $1.82 on Friday, reaching $714.35. 326,518 shares of the stock were exchanged, compared to its average volume of 214,285. The company has a market cap of $18.93 billion, a price-to-earnings ratio of 16.60, a PEG ratio of 1.08 and a beta of 0.88. The company has a quick ratio of 0.14, a current ratio of 0.95 and a debt-to-equity ratio of -3.64. AutoZone has a 1-year low of $497.29 and a 1-year high of $797.89.
AutoZone (NYSE:AZO) last announced its quarterly earnings results on Tuesday, May 22nd. The company reported $13.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $12.99 by $0.43. AutoZone had a negative return on equity of 96.89% and a net margin of 12.27%. The firm had revenue of $2.26 billion during the quarter, compared to the consensus estimate of $2.71 billion. During the same period in the prior year, the firm earned $11.44 EPS. The firm’s quarterly revenue was down 13.7% compared to the same quarter last year. analysts expect that AutoZone will post 49.72 earnings per share for the current fiscal year.
In other news, insider Philip B. Daniele sold 740 shares of the firm’s stock in a transaction dated Friday, June 22nd. The stock was sold at an average price of $683.54, for a total transaction of $505,819.60. Following the completion of the sale, the insider now directly owns 1,072 shares in the company, valued at $732,754.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.60% of the stock is owned by company insiders.
Several institutional investors have recently made changes to their positions in the company. JPMorgan Chase & Co. lifted its position in shares of AutoZone by 10.2% during the first quarter. JPMorgan Chase & Co. now owns 1,792,694 shares of the company’s stock worth $1,162,902,000 after purchasing an additional 165,885 shares during the last quarter. BlackRock Inc. lifted its position in shares of AutoZone by 3.1% during the first quarter. BlackRock Inc. now owns 1,907,100 shares of the company’s stock worth $1,237,117,000 after purchasing an additional 56,974 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec lifted its position in shares of AutoZone by 6.0% during the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 823,963 shares of the company’s stock worth $534,497,000 after purchasing an additional 46,590 shares during the last quarter. Bank of Montreal Can lifted its position in shares of AutoZone by 104.9% during the second quarter. Bank of Montreal Can now owns 69,996 shares of the company’s stock worth $46,962,000 after purchasing an additional 35,832 shares during the last quarter. Finally, Allianz Asset Management GmbH lifted its position in shares of AutoZone by 150.0% during the first quarter. Allianz Asset Management GmbH now owns 11,820 shares of the company’s stock worth $7,667,000 after purchasing an additional 35,477 shares during the last quarter. Institutional investors own 91.90% of the company’s stock.
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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