AutoZone (AZO) Rating Reiterated by Jefferies Group
AutoZone (NYSE:AZO)‘s stock had its “hold” rating reissued by research analysts at Jefferies Group in a report issued on Wednesday. They currently have a $720.00 price objective on the stock. Jefferies Group’s price target would suggest a potential upside of 1.02% from the company’s previous close.
AZO has been the subject of several other research reports. Credit Suisse Group set a $640.00 price target on shares of AutoZone and gave the stock a “buy” rating in a research report on Wednesday, November 1st. Moffett Nathanson assumed coverage on shares of AutoZone in a research report on Monday. They set a “neutral” rating for the company. UBS reaffirmed a “buy” rating and set a $750.00 price target (down previously from $810.00) on shares of AutoZone in a research report on Wednesday. Royal Bank Of Canada upped their price target on shares of AutoZone and gave the stock a “sector perform” rating in a research report on Wednesday. Finally, Zacks Investment Research raised shares of AutoZone from a “sell” rating to a “hold” rating in a research report on Wednesday, August 23rd. Three analysts have rated the stock with a sell rating, thirteen have given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $730.70.
Shares of AutoZone (NYSE AZO) traded up $2.99 during mid-day trading on Wednesday, reaching $712.76. 1,225,400 shares of the company traded hands, compared to its average volume of 464,087. AutoZone has a 1 year low of $491.13 and a 1 year high of $813.70. The company has a quick ratio of 0.15, a current ratio of 0.97 and a debt-to-equity ratio of -3.56. The firm has a market capitalization of $19,240.00, a price-to-earnings ratio of 16.11, a price-to-earnings-growth ratio of 1.31 and a beta of 0.71.
In other AutoZone news, Director William Andrew Mckenna sold 3,000 shares of the business’s stock in a transaction that occurred on Thursday, September 28th. The shares were sold at an average price of $584.96, for a total transaction of $1,754,880.00. Following the completion of the sale, the director now directly owns 8,131 shares in the company, valued at $4,756,309.76. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 2.80% of the stock is owned by insiders.
Several hedge funds have recently made changes to their positions in AZO. JPMorgan Chase & Co. boosted its stake in shares of AutoZone by 59.7% in the second quarter. JPMorgan Chase & Co. now owns 1,018,416 shares of the company’s stock valued at $580,966,000 after purchasing an additional 380,824 shares during the period. Nordea Investment Management AB boosted its stake in shares of AutoZone by 44.9% in the second quarter. Nordea Investment Management AB now owns 1,027,095 shares of the company’s stock valued at $585,917,000 after purchasing an additional 318,188 shares during the period. Koch Industries Inc. purchased a new position in shares of AutoZone in the second quarter valued at $297,000. CI Global Investments Inc. boosted its stake in shares of AutoZone by 437.2% in the second quarter. CI Global Investments Inc. now owns 321,207 shares of the company’s stock valued at $183,236,000 after purchasing an additional 261,417 shares during the period. Finally, Alyeska Investment Group L.P. purchased a new position in shares of AutoZone in the third quarter valued at $141,811,000. Institutional investors and hedge funds own 98.89% of the company’s stock.
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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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