AutoZone (AZO) Price Target Raised to $700.00 at Deutsche Bank
AutoZone (NYSE:AZO) had its price objective hoisted by investment analysts at Deutsche Bank from $625.00 to $700.00 in a report issued on Thursday. Deutsche Bank’s price objective indicates a potential downside of 0.33% from the stock’s previous close.
Several other brokerages have also recently issued reports on AZO. Jefferies Group reiterated a “hold” rating and issued a $720.00 price objective on shares of AutoZone in a research note on Wednesday. Royal Bank Of Canada lifted their price objective on AutoZone and gave the company a “sector perform” rating in a research note on Wednesday. UBS reiterated a “buy” rating and issued a $750.00 price objective (down previously from $810.00) on shares of AutoZone in a research note on Wednesday. Guggenheim cut AutoZone from a “buy” rating to a “neutral” rating in a research note on Wednesday. Finally, Citigroup lifted their price objective on AutoZone to $820.00 and gave the company a “buy” rating in a research note on Wednesday. Three equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $742.70.
Shares of AutoZone (NYSE AZO) traded up $3.69 during trading on Thursday, reaching $702.34. The company had a trading volume of 415,744 shares, compared to its average volume of 464,210. AutoZone has a 12 month low of $491.13 and a 12 month high of $813.70. The stock has a market cap of $19,595.57, a PE ratio of 15.96, a price-to-earnings-growth ratio of 1.31 and a beta of 0.72. The company has a quick ratio of 0.15, a current ratio of 0.97 and a debt-to-equity ratio of -3.56.
In related news, insider James C. Griffith sold 3,623 shares of the business’s stock in a transaction that occurred on Wednesday, December 6th. The stock was sold at an average price of $698.17, for a total transaction of $2,529,469.91. Following the completion of the sale, the insider now owns 2,016 shares in the company, valued at $1,407,510.72. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director William Andrew Mckenna sold 3,000 shares of the business’s stock in a transaction that occurred on 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 sale, the director now owns 8,131 shares of the company’s stock, valued at approximately $4,756,309.76. The disclosure for this sale can be found here. 2.60% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. AXA increased its holdings in shares of AutoZone by 0.8% in the third quarter. AXA now owns 38,237 shares of the company’s stock valued at $22,755,000 after purchasing an additional 300 shares during the period. Burgundy Asset Management Ltd. increased its holdings in shares of AutoZone by 0.3% in the third quarter. Burgundy Asset Management Ltd. now owns 592,020 shares of the company’s stock valued at $352,317,000 after purchasing an additional 1,888 shares during the period. Public Employees Retirement System of Ohio increased its holdings in shares of AutoZone by 3.3% in the third quarter. Public Employees Retirement System of Ohio now owns 45,781 shares of the company’s stock valued at $27,245,000 after purchasing an additional 1,483 shares during the period. Gyroscope Capital Management Group LLC increased its holdings in shares of AutoZone by 31.6% in the third quarter. Gyroscope Capital Management Group LLC now owns 537 shares of the company’s stock valued at $320,000 after purchasing an additional 129 shares during the period. Finally, IFM Investors Pty Ltd acquired a new position in shares of AutoZone in the third quarter valued at approximately $503,000. 98.89% of the stock is currently owned by institutional investors.
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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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