AutoZone, Inc. (AZO) Price Target Lowered to $650.00 at Deutsche Bank AG
AutoZone, Inc. (NYSE:AZO) had its price objective cut by analysts at Deutsche Bank AG from $800.00 to $650.00 in a research note issued to investors on Thursday. The firm presently has a “hold” rating on the stock. Deutsche Bank AG’s price objective indicates a potential upside of 5.58% from the company’s current price.
AZO has been the subject of several other research reports. Raymond James Financial, Inc. downgraded shares of AutoZone from a “strong-buy” rating to a “market perform” rating in a research note on Tuesday. Oppenheimer Holdings Inc. set a $900.00 target price on shares of AutoZone and gave the company a “buy” rating in a research note on Tuesday. Royal Bank of Canada lowered their target price on shares of AutoZone from $829.00 to $753.00 and set a “sector perform” rating for the company in a research note on Monday, May 22nd. Citigroup Inc downgraded shares of AutoZone from a “strong-buy” rating to a “market perform” rating in a research note on Tuesday. Finally, Credit Suisse Group AG set a $812.00 target price on shares of AutoZone and gave the company a “buy” rating in a research note on Wednesday, March 1st. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $835.38.
Shares of AutoZone (NYSE:AZO) traded up 1.36% during mid-day trading on Thursday, reaching $615.62. 785,117 shares of the company were exchanged. AutoZone has a 12 month low of $573.80 and a 12 month high of $819.54. The firm has a 50-day moving average price of $683.57 and a 200 day moving average price of $736.19. The stock has a market capitalization of $17.33 billion, a P/E ratio of 14.22 and a beta of 0.58.
AutoZone (NYSE:AZO) last posted its quarterly earnings results on Tuesday, May 23rd. The company reported $11.44 earnings per share for the quarter, missing the Zacks’ consensus estimate of $12.00 by $0.56. The business had revenue of $2.62 billion for the quarter, compared to the consensus estimate of $2.70 billion. AutoZone had a negative return on equity of 69.22% and a net margin of 11.77%. The company’s quarterly revenue was up 1.0% on a year-over-year basis. During the same period last year, the firm earned $10.77 earnings per share. Equities research analysts anticipate that AutoZone will post $44.38 EPS for the current fiscal year.
In related news, Director Earl G. Graves, Jr. sold 1,000 shares of the stock in a transaction on Thursday, March 16th. The shares were sold at an average price of $714.96, for a total transaction of $714,960.00. Following the completion of the transaction, the director now owns 4,431 shares in the company, valued at $3,167,987.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Rodney C. Halsell sold 14,300 shares of the stock in a transaction on Tuesday, March 21st. The stock was sold at an average price of $724.54, for a total transaction of $10,360,922.00. Following the transaction, the insider now owns 3,966 shares of the company’s stock, valued at approximately $2,873,525.64. The disclosure for this sale can be found here. Insiders have sold 27,300 shares of company stock valued at $19,917,242 in the last 90 days. 2.60% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in AZO. Wells Fargo & Company MN raised its stake in AutoZone by 14.5% in the third quarter. Wells Fargo & Company MN now owns 63,437 shares of the company’s stock valued at $48,742,000 after buying an additional 8,049 shares during the period. Nippon Life Global Investors Americas Inc. raised its stake in AutoZone by 9.7% in the third quarter. Nippon Life Global Investors Americas Inc. now owns 17,590 shares of the company’s stock valued at $13,516,000 after buying an additional 1,550 shares during the period. Coconut Grove Bank raised its stake in AutoZone by 5.3% in the third quarter. Coconut Grove Bank now owns 437 shares of the company’s stock valued at $336,000 after buying an additional 22 shares during the period. Novare Capital Management LLC raised its stake in AutoZone by 3.5% in the third quarter. Novare Capital Management LLC now owns 7,820 shares of the company’s stock valued at $6,008,000 after buying an additional 268 shares during the period. Finally, Summit Asset Management LLC raised its stake in AutoZone by 0.6% in the third quarter. Summit Asset Management LLC now owns 2,093 shares of the company’s stock valued at $1,608,000 after buying an additional 13 shares during the period. Institutional investors and hedge funds own 96.42% of the company’s stock.
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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