AutoZone, Inc. (NYSE:AZO)‘s stock had its “outperform” rating reaffirmed by investment analysts at Credit Suisse Group in a report issued on Wednesday, The Fly reports. They presently have a $640.00 target price on the stock, up from their prior target price of $583.00. Credit Suisse Group’s target price would indicate a potential upside of 8.57% from the stock’s previous close.

Other equities research analysts also recently issued research reports about the company. Royal Bank Of Canada dropped their target price on AutoZone from $577.00 to $571.00 and set a “sector perform” rating for the company in a report on Wednesday, September 20th. Morgan Stanley downgraded AutoZone from an “overweight” rating to an “equal weight” rating in a report on Thursday, July 6th. UBS AG reissued a “buy” rating and set a $655.00 target price (down previously from $725.00) on shares of AutoZone in a report on Wednesday, September 20th. Robert W. Baird reissued a “hold” rating and set a $590.00 target price on shares of AutoZone in a report on Friday, October 27th. Finally, Oppenheimer Holdings, Inc. reissued a “buy” rating on shares of AutoZone in a report on Thursday, September 21st. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $724.45.

AutoZone (NYSE:AZO) opened at 594.83 on Wednesday. AutoZone has a 12 month low of $491.13 and a 12 month high of $813.70. The company’s 50-day moving average is $584.17 and its 200-day moving average is $585.22. The company has a market cap of $16.56 billion, a price-to-earnings ratio of 13.50 and a beta of 0.64.

AutoZone (NYSE:AZO) last announced its quarterly earnings results on Tuesday, September 19th. The company reported $15.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $15.11 by $0.07. AutoZone had a negative return on equity of 74.48% and a net margin of 11.76%. The business had revenue of $3.51 billion during the quarter, compared to the consensus estimate of $3.49 billion. During the same quarter last year, the firm posted $14.30 EPS. The company’s quarterly revenue was up 3.3% on a year-over-year basis. On average, equities research analysts anticipate that AutoZone will post $46.91 earnings per share for the current year.

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In other AutoZone news, Director William Andrew Mckenna sold 3,000 shares of AutoZone stock in a transaction dated Thursday, September 28th. The stock was sold at an average price of $584.96, for a total value of $1,754,880.00. Following the transaction, the director now owns 8,131 shares in the company, valued at $4,756,309.76. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 2.60% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in AZO. American Beacon Advisors Inc. bought a new position in AutoZone in the first quarter valued at about $104,000. Fieldpoint Private Securities LLC bought a new position in AutoZone in the second quarter valued at about $114,000. Alpha Windward LLC grew 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 acquiring an additional 8 shares during the last quarter. Salem Investment Counselors Inc. grew 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 acquiring an additional 9 shares during the last quarter. Finally, Global X Management Co. LLC grew its position in AutoZone by 12.9% in the second quarter. Global X Management Co. LLC now owns 323 shares of the company’s stock valued at $184,000 after acquiring an additional 37 shares during the last quarter. Hedge funds and other institutional investors own 97.93% of the company’s stock.

About AutoZone

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.

The Fly

Analyst Recommendations for AutoZone (NYSE:AZO)

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