AutoZone (AZO) PT Raised to $875.00 at Argus

AutoZone (NYSE:AZO) had its price objective raised by investment analysts at Argus to $875.00 in a research note issued on Friday, The Fly reports. The brokerage presently has a “buy” rating on the stock. Argus’ price target suggests a potential upside of 14.47% from the stock’s previous close.

Other equities analysts have also recently issued research reports about the stock. Jefferies Group reissued a “hold” rating and issued a $720.00 target price on shares of AutoZone in a report on Wednesday, December 6th. Barclays raised their target price on shares of AutoZone from $710.00 to $800.00 in a report on Thursday, December 7th. Royal Bank of Canada raised their target price on shares of AutoZone and gave the stock a “sector perform” rating in a report on Wednesday, December 6th. Moffett Nathanson assumed coverage on shares of AutoZone in a report on Monday, December 4th. They issued a “neutral” rating on the stock. Finally, Deutsche Bank raised their price target on shares of AutoZone from $625.00 to $700.00 in a research note on Thursday, December 7th. Three equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and nine have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $742.82.

AutoZone (NYSE:AZO) opened at $764.38 on Friday. The company has a quick ratio of 0.14, a current ratio of 0.93 and a debt-to-equity ratio of -3.27. AutoZone has a twelve month low of $491.13 and a twelve month high of $797.89. The stock has a market cap of $20,937.10 and a PE ratio of 17.07.

AutoZone (NYSE:AZO) last issued its earnings results on Tuesday, December 5th. The company reported $10.00 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $9.90 by $0.10. AutoZone had a net margin of 11.66% and a negative return on equity of 78.83%. The firm had revenue of $2.59 billion for the quarter, compared to analysts’ expectations of $2.54 billion. During the same quarter last year, the company posted $9.36 earnings per share. AutoZone’s revenue was up 4.9% on a year-over-year basis. equities analysts expect that AutoZone will post 49.25 EPS for the current fiscal year.

In related news, insider James C. Griffith sold 1,250 shares of the firm’s stock in a transaction that occurred on Friday, January 19th. The shares were sold at an average price of $794.70, for a total transaction of $993,375.00. Following the transaction, the insider now owns 1,353 shares in the company, valued at $1,075,229.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Charles Pleas III sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 7th. The shares were sold at an average price of $700.00, for a total transaction of $7,000,000.00. Following the transaction, the vice president now owns 14,377 shares in the company, valued at approximately $10,063,900. The disclosure for this sale can be found here. Insiders have sold 96,710 shares of company stock worth $69,098,826 in the last quarter. Company insiders own 2.60% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Cetera Investment Advisers grew its position in AutoZone by 1.1% in the second quarter. Cetera Investment Advisers now owns 730 shares of the company’s stock worth $417,000 after buying an additional 8 shares during the last quarter. Thrivent Financial For Lutherans grew its position in AutoZone by 4.0% in the second quarter. Thrivent Financial For Lutherans now owns 1,165 shares of the company’s stock worth $665,000 after buying an additional 45 shares during the last quarter. Suntrust Banks Inc. grew its position in AutoZone by 7.7% in the second quarter. Suntrust Banks Inc. now owns 745 shares of the company’s stock worth $424,000 after buying an additional 53 shares during the last quarter. Sentry Investment Management LLC grew its position in AutoZone by 3.4% in the second quarter. Sentry Investment Management LLC now owns 2,273 shares of the company’s stock worth $1,297,000 after buying an additional 74 shares during the last quarter. Finally, Citizens Financial Group Inc. RI grew its position in AutoZone by 5.2% in the third quarter. Citizens Financial Group Inc. RI now owns 1,734 shares of the company’s stock worth $1,032,000 after buying an additional 86 shares during the last quarter. Institutional investors and hedge funds own 99.38% 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.