AutoZone, Inc. (AZO) Given Average Rating of “Hold” by Brokerages
Shares of AutoZone, Inc. (NYSE:AZO) have been given an average rating of “Hold” by the twenty-seven brokerages that are currently covering the company, MarketBeat Ratings reports. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating, eleven have issued a buy rating and one has issued a strong buy rating on the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $717.17.
A number of brokerages recently weighed in on AZO. Deutsche Bank AG reissued a “hold” rating and issued a $550.00 price target (down from $650.00) on shares of AutoZone in a research report on Friday, July 21st. Credit Suisse Group set a $640.00 target price on shares of AutoZone and gave the company a “buy” rating in a report on Wednesday, November 1st. BidaskClub raised shares of AutoZone from a “strong sell” rating to a “sell” rating in a report on Monday, July 31st. Oppenheimer Holdings, Inc. cut their price target on shares of AutoZone and set an “outperform” rating for the company in a report on Thursday, July 20th. Finally, Zacks Investment Research raised shares of AutoZone from a “sell” rating to a “hold” rating in a report on Wednesday, August 23rd.
In other news, Director William Andrew Mckenna sold 3,000 shares of AutoZone stock in a transaction that occurred on Thursday, September 28th. The shares were sold at an average price of $584.96, for a total value of $1,754,880.00. Following the transaction, the director now directly owns 8,131 shares of the company’s stock, valued at $4,756,309.76. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 2.80% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. grew its position in AutoZone by 1.7% during the second quarter. Vanguard Group Inc. now owns 1,899,758 shares of the company’s stock valued at $1,083,735,000 after purchasing an additional 32,542 shares in the last quarter. FMR LLC lifted its stake in AutoZone by 6.7% in the second quarter. FMR LLC now owns 1,864,473 shares of the company’s stock valued at $1,063,608,000 after acquiring an additional 117,019 shares during the last quarter. State Street Corp lifted its stake in AutoZone by 5.1% in the second quarter. State Street Corp now owns 1,363,261 shares of the company’s stock valued at $777,679,000 after acquiring an additional 66,734 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in AutoZone by 27.8% in the third quarter. JPMorgan Chase & Co. now owns 1,301,355 shares of the company’s stock valued at $764,272,000 after acquiring an additional 282,939 shares during the last quarter. Finally, Nordea Investment Management AB lifted its stake in AutoZone by 4.4% in the third quarter. Nordea Investment Management AB now owns 1,072,553 shares of the company’s stock valued at $638,287,000 after acquiring an additional 45,458 shares during the last quarter. 98.25% of the stock is currently owned by hedge funds and other institutional investors.
Shares of AutoZone (NYSE AZO) traded down $7.91 during mid-day trading on Monday, hitting $598.06. 447,800 shares of the company were exchanged, compared to its average volume of 457,719. The company has a current ratio of 0.97, a quick ratio of 0.15 and a debt-to-equity ratio of -3.56. The firm has a market capitalization of $16,440.00, a P/E ratio of 13.57, a P/E/G ratio of 1.10 and a beta of 0.65. AutoZone has a 12-month low of $491.13 and a 12-month high of $813.70.
AutoZone (NYSE:AZO) last issued its earnings results on Tuesday, September 19th. The company reported $15.18 EPS for the quarter, topping analysts’ consensus estimates of $15.11 by $0.07. The firm had revenue of $3.51 billion during the quarter, compared to the consensus estimate of $3.49 billion. AutoZone had a net margin of 11.76% and a negative return on equity of 74.48%. The company’s revenue was up 3.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $14.30 earnings per share. equities analysts expect that AutoZone will post 46.78 earnings per share for the current fiscal year.
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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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