AutoZone, Inc. (NYSE:AZO) Rating Reiterated by Deutsche Bank AG
AutoZone, Inc. (NYSE:AZO)‘s stock had its “hold” rating reiterated by equities researchers at Deutsche Bank AG in a research report issued on Friday. They currently have a $550.00 price target on the stock, down from their previous price target of $650.00. Deutsche Bank AG’s price objective suggests a potential upside of 7.54% from the company’s current price.
A number of other research firms also recently weighed in on AZO. Raymond James Financial, Inc. downgraded AutoZone from a “strong-buy” rating to a “market perform” rating in a report on Tuesday, May 23rd. Oppenheimer Holdings Inc. set a $900.00 target price on AutoZone and gave the stock a “buy” rating in a report on Tuesday, May 23rd. Royal Bank Of Canada reduced their target price on AutoZone from $829.00 to $753.00 and set a “sector perform” rating on the stock in a report on Monday, May 22nd. Morgan Stanley reduced their target price on AutoZone from $825.00 to $680.00 and set an “overweight” rating on the stock in a report on Thursday, May 25th. Finally, Citigroup Inc. downgraded AutoZone from a “strong-buy” rating to a “market perform” rating in a report on Tuesday, May 23rd. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $775.91.
Shares of AutoZone (AZO) traded up 1.77% on Friday, reaching $511.46. The company’s stock had a trading volume of 651,153 shares. The company has a market cap of $14.34 billion, a P/E ratio of 11.81 and a beta of 0.62. AutoZone has a 12-month low of $491.13 and a 12-month high of $818.00. The company’s 50 day moving average price is $562.64 and its 200 day moving average price is $677.76.
AutoZone (NYSE:AZO) last posted its earnings results on Tuesday, May 23rd. The company reported $11.44 earnings per share for the quarter, missing analysts’ consensus estimates of $12.00 by $0.56. AutoZone had a negative return on equity of 70.52% and a net margin of 11.82%. The firm had revenue of $2.62 billion for the quarter, compared to analysts’ expectations of $2.70 billion. During the same quarter last year, the company posted $10.77 EPS. The firm’s revenue was up 1.0% on a year-over-year basis. Analysts forecast that AutoZone will post $44.01 EPS for the current fiscal year.
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In related news, Director Earl G. Graves, Jr. sold 1,000 shares of the company’s stock in a transaction that occurred on Thursday, June 8th. The stock was sold at an average price of $602.50, for a total value of $602,500.00. Following the transaction, the director now directly owns 4,431 shares of the company’s stock, valued at approximately $2,669,677.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP William T. Giles sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 27th. The shares were sold at an average price of $581.10, for a total value of $5,811,000.00. Following the completion of the transaction, the vice president now directly owns 18,500 shares in the company, valued at $10,750,350. The disclosure for this sale can be found here. Corporate insiders own 2.60% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the stock. Alpha Windward LLC boosted its position in AutoZone by 0.8% in the first quarter. Alpha Windward LLC now owns 251 shares of the company’s stock valued at $181,000 after buying an additional 2 shares during the period. Creative Planning raised its stake in shares of AutoZone by 0.4% in the first quarter. Creative Planning now owns 1,972 shares of the company’s stock worth $1,426,000 after buying an additional 8 shares in the last quarter. Wetherby Asset Management Inc. raised its stake in shares of AutoZone by 1.2% in the first quarter. Wetherby Asset Management Inc. now owns 687 shares of the company’s stock worth $497,000 after buying an additional 8 shares in the last quarter. Bristlecone Advisors LLC raised its stake in shares of AutoZone by 1.2% in the first quarter. Bristlecone Advisors LLC now owns 856 shares of the company’s stock worth $619,000 after buying an additional 10 shares in the last quarter. Finally, Pacer Advisors Inc. raised its stake in shares of AutoZone by 2.2% in the first quarter. Pacer Advisors Inc. now owns 507 shares of the company’s stock worth $367,000 after buying an additional 11 shares in the last quarter. 96.79% of the stock is currently owned by institutional investors and hedge funds.
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.
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