Oppenheimer Holdings, Inc. Reaffirms Buy Rating for AutoZone, Inc. (AZO)
AutoZone, Inc. (NYSE:AZO)‘s stock had its “buy” rating reiterated by research analysts at Oppenheimer Holdings, Inc. in a research report issued on Thursday.
Several other analysts also recently issued reports on AZO. Stephens reiterated a “hold” rating and issued a $550.00 price target (down from $620.00) on shares of AutoZone in a report on Thursday. Royal Bank Of Canada lowered their price target on AutoZone from $577.00 to $571.00 and set a “sector perform” rating for the company in a report on Wednesday. Wedbush reiterated a “hold” rating and issued a $580.00 price target (down from $590.00) on shares of AutoZone in a report on Wednesday. Citigroup Inc. reiterated a “buy” rating and issued a $700.00 price target on shares of AutoZone in a report on Wednesday. Finally, TheStreet upgraded AutoZone from a “d+” rating to a “c” rating in a report on Wednesday, June 7th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. AutoZone presently has an average rating of “Hold” and an average target price of $747.27.
AutoZone (NYSE AZO) traded up 1.82% during midday trading on Thursday, reaching $553.49. The company’s stock had a trading volume of 659,176 shares. AutoZone has a 52 week low of $491.13 and a 52 week high of $813.70. The firm’s 50-day moving average price is $534.42 and its 200-day moving average price is $611.55. The stock has a market capitalization of $15.51 billion, a PE ratio of 12.79 and a beta of 0.62.
AutoZone (NYSE:AZO) last issued its quarterly earnings results on Tuesday, September 19th. The company reported $15.18 earnings per share for the quarter, topping analysts’ consensus estimates of $15.11 by $0.07. The company had revenue of $3.51 billion for the quarter, compared to analyst estimates of $3.49 billion. AutoZone had a negative return on equity of 74.48% and a net margin of 11.76%. The business’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $14.30 EPS. On average, analysts anticipate that AutoZone will post $47.04 earnings per share for the current year.
In other news, VP William T. Giles sold 10,000 shares of the business’s stock in a transaction dated Tuesday, June 27th. The shares were sold at an average price of $581.10, for a total transaction of $5,811,000.00. Following the transaction, the vice president now owns 18,500 shares in the company, valued at approximately $10,750,350. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director William Andrew Mckenna acquired 300 shares of the company’s stock in a transaction dated Thursday, July 13th. The shares were bought at an average price of $507.00 per share, for a total transaction 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. Insiders own 2.60% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. American Beacon Advisors Inc. bought a new stake in AutoZone in the first quarter valued at about $104,000. Fieldpoint Private Securities LLC acquired a new position in AutoZone in the second quarter valued at about $114,000. Alpha Windward LLC boosted its position in AutoZone by 3.2% in the second quarter. Alpha Windward LLC now owns 259 shares of the company’s stock valued at $148,000 after buying an additional 8 shares in the last quarter. Salem Investment Counselors Inc. boosted its position in AutoZone by 3.5% in the second quarter. Salem Investment Counselors Inc. now owns 264 shares of the company’s stock valued at $151,000 after buying an additional 9 shares in the last quarter. Finally, Colony Group LLC acquired a new position in AutoZone in the first quarter valued at about $205,000. 96.08% of the stock is currently 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 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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