Jefferies Group Reiterates Hold Rating for AutoZone Inc. (AZO)
AutoZone Inc. (NYSE:AZO)‘s stock had its “hold” rating reaffirmed by equities researchers at Jefferies Group in a research note issued to investors on Wednesday. They presently have a $810.00 price target on the stock. Jefferies Group’s price objective would suggest a potential upside of 7.46% from the company’s current price.
Several other equities research analysts have also commented on the stock. Zacks Investment Research lowered shares of AutoZone from a “hold” rating to a “sell” rating in a research note on Tuesday, July 26th. Susquehanna started coverage on shares of AutoZone in a research note on Thursday, August 25th. They issued a “neutral” rating and a $810.00 price target on the stock. Morgan Stanley set a $820.00 price objective on shares of AutoZone and gave the company a “hold” rating in a report on Thursday, August 11th. Argus reiterated a “buy” rating and issued a $875.00 price objective on shares of AutoZone in a report on Sunday, July 10th. Finally, Goldman Sachs Group Inc. set a $841.00 price objective on shares of AutoZone and gave the company a “hold” rating in a report on Monday, September 19th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $858.24.
AutoZone (NYSE:AZO) opened at 753.80 on Wednesday. The firm has a market capitalization of $21.95 billion, a P/E ratio of 18.52 and a beta of 0.50. AutoZone has a one year low of $681.01 and a one year high of $819.54. The firm has a 50-day moving average price of $751.16 and a 200 day moving average price of $773.24.
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AutoZone (NYSE:AZO) last announced its quarterly earnings results on Thursday, September 22nd. The company reported $14.30 EPS for the quarter, beating the consensus estimate of $14.25 by $0.05. AutoZone had a net margin of 11.67% and a negative return on equity of 69.23%. The company had revenue of $3.40 billion for the quarter. During the same quarter in the previous year, the business posted $12.75 EPS. AutoZone’s revenue for the quarter was up 3.3% compared to the same quarter last year. Equities research analysts anticipate that AutoZone will post $45.46 earnings per share for the current year.
In other AutoZone news, insider Thomas B. Newbern sold 16,870 shares of the company’s stock in a transaction that occurred on Thursday, August 11th. The stock was sold at an average price of $799.82, for a total value of $13,492,963.40. Following the completion of the sale, the insider now owns 15,977 shares of the company’s stock, valued at $12,778,724.14. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.40% of the stock is owned by company insiders.
Hedge funds have recently modified their holdings of the company. Suntrust Banks Inc. raised its stake in shares of AutoZone by 0.4% in the second quarter. Suntrust Banks Inc. now owns 1,418 shares of the company’s stock valued at $1,124,000 after buying an additional 5 shares in the last quarter. Lakeview Capital Partners LLC raised its stake in shares of AutoZone by 1.0% in the second quarter. Lakeview Capital Partners LLC now owns 483 shares of the company’s stock valued at $383,000 after buying an additional 5 shares in the last quarter. Cleararc Capital Inc. raised its stake in shares of AutoZone by 0.8% in the second quarter. Cleararc Capital Inc. now owns 743 shares of the company’s stock valued at $590,000 after buying an additional 6 shares in the last quarter. Advisor Partners LLC raised its stake in shares of AutoZone by 1.0% in the second quarter. Advisor Partners LLC now owns 723 shares of the company’s stock valued at $574,000 after buying an additional 7 shares in the last quarter. Finally, Janney Montgomery Scott LLC increased its stake in shares of AutoZone by 1.5% in the second quarter. Janney Montgomery Scott LLC now owns 600 shares of the company’s stock valued at $445,000 after buying an additional 9 shares during the last quarter. 95.93% of the stock is owned by institutional investors and hedge funds.
AutoZone, Inc is a retailer and distributor of automotive replacement parts and accessories in the United States. The Company’s operating segments include Auto Parts Locations and Other. The Auto Parts Locations segment comprises Domestic Auto Parts, Mexico, Brazil and Interamerican Motor Corporation (IMC).
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