AutoZone, Inc. (AZO) Rating Reiterated by Stephens

Stephens reissued their hold rating on shares of AutoZone, Inc. (NYSE:AZO) in a research report released on Thursday. Stephens currently has a $550.00 price target on the stock, down from their prior price target of $620.00.

AZO has been the topic of a number of other reports. Deutsche Bank AG reiterated a hold rating and issued a $550.00 target price (down from $650.00) on shares of AutoZone in a report on Friday, July 21st. Wedbush reissued a neutral rating on shares of AutoZone in a research report on Thursday, July 6th. BidaskClub raised AutoZone from a strong sell rating to a sell rating in a research report on Monday, July 31st. BTIG Research reissued a buy rating and issued a $825.00 price target on shares of AutoZone in a research report on Wednesday, May 24th. Finally, Oppenheimer Holdings, Inc. lowered their price target on AutoZone and set an outperform rating for the company in a research report on Thursday, July 20th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. AutoZone currently has an average rating of Hold and an average price target of $747.27.

Shares of AutoZone (NYSE:AZO) opened at 574.03 on Thursday. The firm has a market capitalization of $15.98 billion, a P/E ratio of 13.03 and a beta of 0.62. The stock has a 50 day moving average of $534.42 and a 200-day moving average of $611.55. AutoZone has a 12-month low of $491.13 and a 12-month high of $813.70.

AutoZone (NYSE:AZO) last issued its earnings results on Tuesday, September 19th. The company reported $15.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $3.49 billion. During the same period last year, the business earned $14.30 EPS. AutoZone’s quarterly revenue was up 3.3% compared to the same quarter last year. On average, equities research analysts predict that AutoZone will post $47.03 EPS for the current fiscal year.

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In related news, VP William T. Giles sold 10,000 shares of AutoZone stock in a transaction dated Tuesday, June 27th. The stock was sold at an average price of $581.10, for a total value of $5,811,000.00. Following the completion of the sale, the vice president now owns 18,500 shares of the company’s stock, valued at approximately $10,750,350. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director William Andrew Mckenna acquired 300 shares of the firm’s stock in a transaction that occurred on Thursday, July 13th. The stock was purchased at an average cost of $507.00 per share, with a total value of $152,100.00. Following the acquisition, the director now owns 5,131 shares in the company, valued at approximately $2,601,417. The disclosure for this purchase can be found here. Company insiders own 2.60% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the stock. American Beacon Advisors Inc. purchased a new stake in AutoZone in the 1st quarter worth about $104,000. Fieldpoint Private Securities LLC purchased a new stake in AutoZone in the 2nd quarter worth about $114,000. Alpha Windward LLC increased its holdings in AutoZone by 3.2% in the 2nd quarter. Alpha Windward LLC now owns 259 shares of the company’s stock worth $148,000 after acquiring an additional 8 shares during the last quarter. Salem Investment Counselors Inc. increased its holdings in AutoZone by 3.5% in the 2nd quarter. Salem Investment Counselors Inc. now owns 264 shares of the company’s stock worth $151,000 after acquiring an additional 9 shares during the last quarter. Finally, Global X Management Co. LLC increased its holdings in AutoZone by 12.9% in the 2nd quarter. Global X Management Co. LLC now owns 323 shares of the company’s stock worth $184,000 after acquiring an additional 37 shares during the last quarter. 96.08% of the stock is owned by 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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