AutoZone, Inc. (NYSE:AZO) PT Set at $640.00 by Credit Suisse Group

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

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.

Analyst Recommendations for AutoZone (NYSE:AZO)

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