AutoZone (AZO) Rating Reiterated by UBS
AutoZone (NYSE:AZO)‘s stock had its “buy” rating reaffirmed by research analysts at UBS in a report issued on Wednesday, The Fly reports. They currently have a $750.00 price target on the stock, down from their prior price target of $810.00. UBS’s price target suggests a potential upside of 5.22% from the company’s previous close.
A number of other research firms also recently weighed in on AZO. Royal Bank Of Canada reduced their price target on shares of AutoZone from $577.00 to $571.00 and set a “sector perform” rating on the stock in a research note on Wednesday, September 20th. Zacks Investment Research lowered shares of AutoZone from a “hold” rating to a “sell” rating in a report on Wednesday, November 1st. Robert W. Baird reiterated a “hold” rating and issued a $590.00 price objective on shares of AutoZone in a report on Friday, October 27th. Citigroup raised their price objective on shares of AutoZone to $820.00 and gave the company a “buy” rating in a report on Wednesday. Finally, Oppenheimer reiterated a “buy” rating on shares of AutoZone in a report on Thursday, September 21st. Three investment analysts have rated the stock with a sell rating, thirteen have given a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $735.20.
Shares of AutoZone (NYSE AZO) opened at $712.76 on Wednesday. AutoZone has a one year low of $491.13 and a one 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 cap of $19,513.37, a P/E ratio of 16.11, a PEG ratio of 1.31 and a beta of 0.72.
In other news, Director William Andrew Mckenna sold 3,000 shares of AutoZone stock in a transaction on Thursday, September 28th. The stock was sold at an average price of $584.96, for a total transaction of $1,754,880.00. Following the sale, the director now directly owns 8,131 shares in the company, valued at approximately $4,756,309.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 2.80% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in AZO. American Beacon Advisors Inc. bought a new stake in AutoZone in the 1st quarter valued at about $104,000. Commonwealth Bank of Australia raised its stake in AutoZone by 27.6% in the 3rd quarter. Commonwealth Bank of Australia now owns 162 shares of the company’s stock valued at $125,000 after acquiring an additional 35 shares during the period. Global X Management Co. LLC raised its stake in AutoZone by 89.1% in the 2nd quarter. Global X Management Co. LLC now owns 174 shares of the company’s stock valued at $138,000 after acquiring an additional 82 shares during the period. Fieldpoint Private Securities LLC bought a new stake in AutoZone in the 2nd quarter valued at about $114,000. Finally, First Personal Financial Services raised its stake in AutoZone by 126.3% in the 2nd quarter. First Personal Financial Services now owns 215 shares of the company’s stock valued at $171,000 after acquiring an additional 120 shares during the period. Institutional investors 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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