Oppenheimer Holdings, Inc. Reaffirms “Buy” Rating for AutoZone, Inc. (AZO)
AutoZone, Inc. (NYSE:AZO)‘s stock had its “buy” rating reissued by investment analysts at Oppenheimer Holdings, Inc. in a research note issued on Tuesday.
Several other equities research analysts have also recently weighed in on AZO. BTIG Research reissued a “buy” rating and set a $900.00 price target on shares of AutoZone in a research report on Wednesday, February 22nd. Credit Suisse Group set a $812.00 price target on shares of AutoZone and gave the company a “buy” rating in a research report on Wednesday, March 1st. Cleveland Research cut shares of AutoZone from a “buy” rating to a “neutral” rating in a research report on Monday, April 3rd. Jefferies Group LLC reissued a “hold” rating and set a $810.00 price target on shares of AutoZone in a research report on Tuesday, April 18th. Finally, Royal Bank Of Canada dropped their price target on shares of AutoZone from $829.00 to $753.00 and set a “sector perform” rating for the company in a research report on Monday, May 22nd. Twelve research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. AutoZone presently has an average rating of “Buy” and a consensus price target of $814.81.
Shares of AutoZone (AZO) traded down 1.91% during trading on Tuesday, reaching $574.01. 711,074 shares of the company were exchanged. AutoZone has a 52-week low of $568.07 and a 52-week high of $819.54. The stock’s 50-day moving average is $640.62 and its 200-day moving average is $716.86. The firm has a market cap of $16.09 billion, a price-to-earnings ratio of 13.26 and a beta of 0.57.
AutoZone (NYSE:AZO) last announced its quarterly earnings results on Tuesday, May 23rd. The company reported $11.44 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $12.00 by $0.56. The firm had revenue of $2.62 billion for the quarter, compared to analysts’ expectations of $2.70 billion. AutoZone had a net margin of 11.82% and a negative return on equity of 70.52%. The company’s quarterly revenue was up 1.0% on a year-over-year basis. During the same period in the previous year, the company earned $10.77 EPS. Equities research analysts predict that AutoZone will post $44.23 earnings per share for the current fiscal year.
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In related news, Director Earl G. Graves, Jr. sold 1,000 shares of the stock in a transaction dated Thursday, June 8th. The shares were sold at an average price of $602.50, for a total value of $602,500.00. Following the completion of the transaction, the director now directly owns 4,431 shares in the company, valued at approximately $2,669,677.50. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.60% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently modified their holdings of AZO. BlackRock Inc. raised its position in shares of AutoZone by 2,993.2% in the first quarter. BlackRock Inc. now owns 2,029,985 shares of the company’s stock valued at $1,467,778,000 after buying an additional 1,964,358 shares during the last quarter. Vanguard Group Inc. raised its position in shares of AutoZone by 1.6% in the first quarter. Vanguard Group Inc. now owns 1,867,216 shares of the company’s stock valued at $1,350,091,000 after buying an additional 29,681 shares during the last quarter. State Street Corp raised its position in shares of AutoZone by 3.2% in the first quarter. State Street Corp now owns 1,296,527 shares of the company’s stock valued at $937,455,000 after buying an additional 40,358 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec raised its position in shares of AutoZone by 7.7% in the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 856,113 shares of the company’s stock valued at $619,686,000 after buying an additional 61,400 shares during the last quarter. Finally, OppenheimerFunds Inc. raised its position in shares of AutoZone by 103.6% in the first quarter. OppenheimerFunds Inc. now owns 693,624 shares of the company’s stock valued at $501,525,000 after buying an additional 352,990 shares during the last quarter. Institutional investors own 96.75% 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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