Other analysts also recently issued reports about the stock. Wedbush restated a hold rating and set a $580.00 price objective (down from $590.00) on shares of AutoZone in a research report on Wednesday, September 20th. Bank of America Corporation cut shares of AutoZone from a buy rating to a neutral rating and cut their target price for the company from $750.00 to $575.00 in a research note on Friday, July 7th. Citigroup Inc. reissued a buy rating and issued a $700.00 price objective on shares of AutoZone in a research note 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 research note on Wednesday, September 20th. Finally, Oppenheimer Holdings, Inc. dropped their price target on shares of AutoZone and set an outperform rating for the company in a research note on Thursday, July 20th. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of Hold and a consensus target price of $724.45.
Shares of AutoZone (NYSE AZO) traded down $2.80 during trading on Wednesday, reaching $595.26. 359,900 shares of the company were exchanged, compared to its average volume of 457,273. The company has a market capitalization of $16,442.18, a P/E ratio of 13.57, a price-to-earnings-growth ratio of 1.10 and a beta of 0.65. AutoZone has a 12 month low of $491.13 and a 12 month high of $813.70. The company has a current ratio of 0.97, a quick ratio of 0.15 and a debt-to-equity ratio of -3.56.
AutoZone (NYSE:AZO) last released its quarterly earnings results on Tuesday, September 19th. The company reported $15.18 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $15.11 by $0.07. AutoZone had a net margin of 11.76% and a negative return on equity of 74.48%. The business had revenue of $3.51 billion for the quarter, compared to the consensus estimate of $3.49 billion. During the same period last year, the firm earned $14.30 earnings per share. The company’s quarterly revenue was up 3.3% on a year-over-year basis. equities research analysts predict that AutoZone will post 46.78 earnings per share for the current fiscal year.
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In other AutoZone news, Director William Andrew Mckenna sold 3,000 shares of the company’s stock in a transaction on Thursday, September 28th. The shares were sold at an average price of $584.96, for a total transaction of $1,754,880.00. Following the completion of the transaction, the director now directly owns 8,131 shares in the company, valued at $4,756,309.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 2.80% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. raised its position in shares of AutoZone by 1.7% in the second quarter. Vanguard Group Inc. now owns 1,899,758 shares of the company’s stock valued at $1,083,735,000 after buying an additional 32,542 shares during the last quarter. FMR LLC raised its position in shares of AutoZone by 6.7% in the second quarter. FMR LLC now owns 1,864,473 shares of the company’s stock valued at $1,063,608,000 after buying an additional 117,019 shares during the last quarter. State Street Corp raised its position in shares of AutoZone by 5.1% in the second quarter. State Street Corp now owns 1,363,261 shares of the company’s stock valued at $777,679,000 after buying an additional 66,734 shares during the last quarter. JPMorgan Chase & Co. raised its position 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 valued at $764,272,000 after buying an additional 282,939 shares during the last quarter. Finally, Nordea Investment Management AB raised its position in shares of AutoZone by 4.4% in the third quarter. Nordea Investment Management AB now owns 1,072,553 shares of the company’s stock valued at $638,287,000 after buying an additional 45,458 shares during the last quarter. Institutional investors and hedge funds own 98.25% of the company’s stock.
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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