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.

AutoZone (NYSE:AZO) last announced its earnings results on Tuesday, December 5th. The company reported $10.00 EPS for the quarter, beating analysts’ consensus estimates of $9.90 by $0.10. AutoZone had a negative return on equity of 77.27% and a net margin of 11.66%. The company had revenue of $2.59 billion during the quarter, compared to analysts’ expectations of $2.54 billion. During the same period last year, the business posted $9.36 EPS. AutoZone’s revenue for the quarter was up 4.9% on a year-over-year basis. equities research analysts anticipate that AutoZone will post 46.78 EPS for the current year.

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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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.

Analyst Recommendations for AutoZone (NYSE:AZO)

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