AutoZone, Inc. (NYSE:AZO) was downgraded by equities researchers at Wolfe Research from a “market perform” rating to an “underperform” rating in a report issued on Monday, July 17th.
Several other equities analysts have also recently issued reports on AZO. TheStreet raised AutoZone from a “d+” rating to a “c” rating in a research note on Wednesday, June 7th. BTIG Research reaffirmed a “buy” rating and issued a $825.00 price target on shares of AutoZone in a research note on Wednesday, May 24th. CIBC reaffirmed a “buy” rating and issued a $900.00 price target on shares of AutoZone in a research note on Wednesday, May 24th. Wedbush cut AutoZone from an “outperform” rating to a “neutral” rating and reduced their price target for the stock from $660.00 to $650.00 in a research note on Tuesday, May 30th. Finally, ValuEngine cut AutoZone from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Two analysts have rated the stock with a sell rating, fourteen have issued a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. AutoZone currently has an average rating of “Hold” and an average target price of $775.91.
Shares of AutoZone (NYSE AZO) opened at 533.94 on Monday. The firm has a 50-day moving average of $528.38 and a 200-day moving average of $650.21. The company has a market capitalization of $14.97 billion, a P/E ratio of 12.33 and a beta of 0.61. AutoZone has a one year low of $491.13 and a one year high of $813.70.
AutoZone (NYSE:AZO) last posted its earnings results on Tuesday, May 23rd. The company reported $11.44 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $12.00 by $0.56. AutoZone had a net margin of 11.82% and a negative return on equity of 70.52%. The business had revenue of $2.62 billion for the quarter, compared to analysts’ expectations of $2.70 billion. During the same period last year, the firm posted $10.77 earnings per share. AutoZone’s quarterly revenue was up 1.0% on a year-over-year basis. Equities research analysts expect that AutoZone will post $43.99 EPS for the current fiscal year.
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In other AutoZone news, Director Earl G. Graves, Jr. sold 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 8th. The stock was sold at an average price of $602.50, for a total transaction of $602,500.00. Following the completion of the transaction, the director now owns 4,431 shares in the company, valued at approximately $2,669,677.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director William Andrew Mckenna purchased 300 shares of the business’s stock in a transaction on Thursday, July 13th. The shares were purchased at an average price of $507.00 per share, with a total value of $152,100.00. Following the acquisition, the director now directly owns 5,131 shares in the company, valued at $2,601,417. The disclosure for this purchase can be found here. Company insiders own 2.60% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the stock. Alpha Windward LLC boosted its position in AutoZone by 0.8% in the first quarter. Alpha Windward LLC now owns 251 shares of the company’s stock valued at $181,000 after buying an additional 2 shares in the last quarter. Creative Planning boosted its position in AutoZone by 0.4% in the first quarter. Creative Planning now owns 1,972 shares of the company’s stock valued at $1,426,000 after buying an additional 8 shares in the last quarter. Wetherby Asset Management Inc. raised its stake in AutoZone by 1.2% in the first quarter. Wetherby Asset Management Inc. now owns 687 shares of the company’s stock valued at $497,000 after buying an additional 8 shares during the last quarter. Nippon Life Insurance Co. raised its stake in AutoZone by 0.4% in the second quarter. Nippon Life Insurance Co. now owns 2,022 shares of the company’s stock valued at $1,153,000 after buying an additional 8 shares during the last quarter. Finally, Bristlecone Advisors LLC raised its stake in AutoZone by 1.2% in the first quarter. Bristlecone Advisors LLC now owns 856 shares of the company’s stock valued at $619,000 after buying an additional 10 shares during the last quarter. Institutional investors and hedge funds own 97.11% of the company’s stock.
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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