AutoZone, Inc. (NYSE:AZO) Given a $640.00 Price Target at Credit Suisse Group

Credit Suisse Group set a $640.00 target price on AutoZone, Inc. (NYSE:AZO) in a research report sent to investors on Wednesday, November 1st. The firm currently has a buy rating on the stock.

AZO has been the subject of several other reports. Deutsche Bank AG restated a hold rating and set a $550.00 price objective (down from $650.00) on shares of AutoZone in a research report on Friday, July 21st. Wedbush restated a neutral rating on shares of AutoZone in a research report on Thursday, July 6th. BidaskClub upgraded shares of AutoZone from a strong sell rating to a sell rating in a research report on Monday, July 31st. Oppenheimer Holdings, Inc. dropped their price target on shares of AutoZone and set an outperform rating for the company in a research report on Thursday, July 20th. Finally, Zacks Investment Research upgraded shares of AutoZone from a sell rating to a hold rating in a research report on Wednesday, August 23rd. Three investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. AutoZone has a consensus rating of Hold and an average target price of $724.45.

AutoZone (NYSE AZO) traded up $5.22 during mid-day trading on Wednesday, reaching $634.65. The company’s stock had a trading volume of 490,326 shares, compared to its average volume of 456,928. The company has a market cap of $17,420.00, a PE ratio of 14.29, a PEG ratio of 1.16 and a beta of 0.65. The company has a debt-to-equity ratio of -3.56, a quick ratio of 0.15 and a current ratio of 0.97. AutoZone has a 52-week low of $491.13 and a 52-week high of $813.70.

AutoZone (NYSE:AZO) last announced its quarterly earnings data on Tuesday, September 19th. The company reported $15.18 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $15.11 by $0.07. AutoZone had a negative return on equity of 74.48% and a net margin of 11.76%. The company had revenue of $3.51 billion during the quarter, compared to analysts’ expectations of $3.49 billion. During the same quarter last year, the company earned $14.30 EPS. AutoZone’s revenue for the quarter was up 3.3% compared to the same quarter last year. equities analysts expect that AutoZone will post 46.78 earnings per share for the current 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 dated Thursday, September 28th. The shares were sold at an average price of $584.96, for a total value of $1,754,880.00. Following the completion of the sale, the director now directly owns 8,131 shares of the company’s stock, valued at approximately $4,756,309.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 2.80% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in shares of AutoZone by 1.7% during the 2nd quarter. Vanguard Group Inc. now owns 1,899,758 shares of the company’s stock valued at $1,083,735,000 after acquiring an additional 32,542 shares during the period. FMR LLC grew its position in shares of AutoZone by 6.7% during the 2nd quarter. FMR LLC now owns 1,864,473 shares of the company’s stock valued at $1,063,608,000 after acquiring an additional 117,019 shares during the period. State Street Corp grew its position in shares of AutoZone by 5.1% during the 2nd quarter. State Street Corp now owns 1,363,261 shares of the company’s stock valued at $777,679,000 after acquiring an additional 66,734 shares during the period. JPMorgan Chase & Co. grew its position in shares of AutoZone by 27.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,301,355 shares of the company’s stock valued at $764,272,000 after acquiring an additional 282,939 shares during the period. Finally, Nordea Investment Management AB lifted its stake in shares of AutoZone by 4.4% during the 3rd 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 in the last quarter. 98.66% of the stock is owned by hedge funds and other institutional investors.

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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