William Allan Corp Acquires New Shares in AutoZone, Inc. $AZO

William Allan Corp acquired a new position in AutoZone, Inc. (NYSE:AZO) during the third quarter, according to its most recent filing with the SEC. The firm acquired 273 shares of the company’s stock, valued at approximately $771,000.

Several other hedge funds have also recently made changes to their positions in the business. Benchmark Investment Advisors LLC purchased a new position in shares of AutoZone in the 2nd quarter valued at approximately $713,000. CYBER HORNET ETFs LLC boosted its position in shares of AutoZone by 33,193.5% during the second quarter. CYBER HORNET ETFs LLC now owns 15,315 shares of the company’s stock valued at $48,946,000 after purchasing an additional 15,269 shares in the last quarter. Nykredit A S bought a new stake in shares of AutoZone during the second quarter valued at approximately $27,287,000. Bank of America Corp DE bought a new stake in shares of AutoZone during the second quarter valued at approximately $233,576,000. Finally, Engineers Gate Manager LP grew its stake in AutoZone by 923.1% in the second quarter. Engineers Gate Manager LP now owns 1,238 shares of the company’s stock worth $3,957,000 after purchasing an additional 1,117 shares during the period. 92.74% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at AutoZone

In other AutoZone news, VP Dennis LeRiche sold 1,455 shares of AutoZone stock in a transaction on Friday, August 7th. The stock was sold at an average price of $3,100.00, for a total transaction of $4,510,500.00. Following the completion of the transaction, the vice president owned 441 shares in the company, valued at approximately $1,367,100. The trade was a 76.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 2.60% of the company’s stock.

AutoZone Stock Performance

AZO stock opened at $2,912.52 on Thursday. The firm has a 50 day moving average price of $2,937.76 and a 200-day moving average price of $3,133.57. AutoZone, Inc. has a 52-week low of $2,730.65 and a 52-week high of $4,076.34. The firm has a market capitalization of $47.56 billion, a price-to-earnings ratio of 19.06, a PEG ratio of 1.34 and a beta of 0.40.

AutoZone (NYSE:AZO) last issued its quarterly earnings results on Tuesday, September 22nd. The company reported $56.05 EPS for the quarter, topping analysts’ consensus estimates of $0.54 by $55.51. The firm had revenue of $6.59 billion for the quarter, compared to analysts’ expectations of $6.70 billion. AutoZone had a negative return on equity of 90.08% and a net margin of 12.65%. The business’s revenue for the quarter was up 5.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $48.71 EPS. As a group, sell-side analysts forecast that AutoZone, Inc. will post 171.50 earnings per share for the current fiscal year.

Analyst Ratings Changes

AZO has been the subject of a number of research reports. Raymond James Financial decreased their price objective on AutoZone from $4,000.00 to $3,700.00 and set a “strong-buy” rating for the company in a report on Wednesday, September 23rd. Piper Sandler set a $3,500.00 price objective on AutoZone in a research report on Monday, August 31st. Roth Capital dropped their target price on shares of AutoZone from $4,023.00 to $3,850.00 and set a “buy” rating on the stock in a report on Wednesday, September 23rd. DA Davidson dropped their target price on shares of AutoZone from $3,750.00 to $3,500.00 and set a “buy” rating on the stock in a report on Wednesday, September 23rd. Finally, Guggenheim reduced their target price on shares of AutoZone from $4,000.00 to $3,750.00 and set a “buy” rating on the stock in a research report on Wednesday, September 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $3,669.12.

About AutoZone

AutoZone, Inc is a specialty retailer of automotive replacement parts, accessories and maintenance products. The company serves do-it-yourself customers as well as professional automotive repair shops, offering products such as batteries, brakes, filters, engine components, tools, fluids and other vehicle parts.

In addition to its retail stores, AutoZone provides commercial sales and delivery services for professional repair businesses. The company also operates ALLDATA, which offers automotive diagnostic, repair and shop-management software and information services to repair professionals.

Founded in 1979 and headquartered in Memphis, Tennessee, AutoZone operates primarily in the United States, with additional stores and operations in Mexico and Brazil.