Richard Craig Smith Sells 5,910 Shares of AutoZone (NYSE:AZO) Stock

AutoZone, Inc. (NYSE:AZO) VP Richard Craig Smith sold 5,910 shares of AutoZone stock in a transaction that occurred on Friday, January 23rd. The shares were sold at an average price of $3,700.00, for a total transaction of $21,867,000.00. Following the transaction, the vice president directly owned 2,627 shares in the company, valued at $9,719,900. This represents a 69.23% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Richard Craig Smith also recently made the following trade(s):

• On Friday, January 16th, Richard Craig Smith sold 3,190 shares of AutoZone stock. The stock was sold at an average price of $3,500.00, for a total transaction of $11,165,000.00.

AutoZone Stock Down 0.4%

Shares of AutoZone stock opened at $3,783.89 on Thursday. The stock’s 50-day simple moving average is $3,583.28 and its 200-day simple moving average is $3,849.83. The company has a market capitalization of $62.70 billion, a price-to-earnings ratio of 26.39, a PEG ratio of 1.81 and a beta of 0.42. AutoZone, Inc. has a 52 week low of $3,210.72 and a 52 week high of $4,388.11.

AutoZone (NYSE:AZO) last posted its quarterly earnings results on Tuesday, December 9th. The company reported $31.04 earnings per share for the quarter, missing the consensus estimate of $32.69 by ($1.65). AutoZone had a negative return on equity of 65.38% and a net margin of 12.78%.The business had revenue of $4.63 billion during the quarter, compared to the consensus estimate of $4.64 billion. During the same quarter in the previous year, the company earned $32.52 earnings per share. The company’s revenue for the quarter was up 8.2% compared to the same quarter last year. On average, equities analysts expect that AutoZone, Inc. will post 152.94 earnings per share for the current year.

AutoZone declared that its board has approved a stock repurchase plan on Wednesday, October 8th that authorizes the company to buyback $0.00 in shares. This buyback authorization authorizes the company to reacquire shares of its stock through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on AZO shares. DA Davidson dropped their price objective on shares of AutoZone from $4,850.00 to $4,500.00 and set a “buy” rating for the company in a research note on Wednesday, December 10th. Raymond James Financial reduced their target price on AutoZone from $4,800.00 to $4,600.00 and set a “strong-buy” rating on the stock in a research note on Wednesday, December 10th. BMO Capital Markets reduced their target price on shares of AutoZone from $4,600.00 to $4,400.00 and set an “outperform” rating on the stock in a research report on Wednesday, December 10th. BNP Paribas Exane dropped their price target on AutoZone from $4,811.00 to $4,268.00 and set an “outperform” rating on the stock in a research report on Wednesday, December 10th. Finally, Erste Group Bank downgraded shares of AutoZone from a “buy” rating to a “hold” rating in a research note on Friday, October 31st. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $4,285.00.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Avantax Advisory Services Inc. increased its position in shares of AutoZone by 8.3% during the second quarter. Avantax Advisory Services Inc. now owns 2,742 shares of the company’s stock valued at $10,179,000 after acquiring an additional 210 shares during the last quarter. Braun Stacey Associates Inc. boosted its position in AutoZone by 7.8% in the 3rd quarter. Braun Stacey Associates Inc. now owns 8,425 shares of the company’s stock valued at $36,145,000 after buying an additional 613 shares during the period. Exchange Traded Concepts LLC boosted its holdings in AutoZone by 68.2% in the third quarter. Exchange Traded Concepts LLC now owns 1,457 shares of the company’s stock valued at $6,251,000 after purchasing an additional 591 shares during the period. Emerald Advisers LLC boosted its stake in shares of AutoZone by 60.0% in the 2nd quarter. Emerald Advisers LLC now owns 224 shares of the company’s stock valued at $832,000 after buying an additional 84 shares during the period. Finally, Hager Investment Management Services LLC lifted its stake in AutoZone by 70.9% in the second quarter. Hager Investment Management Services LLC now owns 470 shares of the company’s stock worth $1,745,000 after acquiring an additional 195 shares during the last quarter. Institutional investors and hedge funds own 92.74% of the company’s stock.

AutoZone Company Profile

AutoZone, Inc (NYSE: AZO) is a retailer and distributor of automotive replacement parts and accessories. Headquartered in Memphis, Tennessee, the company supplies a wide range of aftermarket components, maintenance items and accessories for passenger cars, light trucks and commercial vehicles. Its product assortment includes engine parts, electrical components, batteries, brakes, filters, fluids and interior and exterior accessories, supported by inventory management and logistics systems to serve retail customers and professional service providers.

AutoZone serves both do‑it‑yourself (DIY) consumers and commercial customers such as independent repair shops and service centers.