Deutsche Bank AG reissued their hold rating on shares of AutoZone, Inc. (NYSE:AZO) in a report issued on Friday morning. Deutsche Bank AG currently has a $550.00 price objective on the stock, down from their prior price objective of $650.00.
AZO has been the subject of a number of other reports. Barclays PLC lowered their price target on AutoZone from $870.00 to $710.00 and set an overweight rating for the company in a report on Thursday, July 6th. Goldman Sachs Group, Inc. (The) raised AutoZone from a neutral rating to a buy rating and upped their price target for the company from $615.62 to $662.00 in a report on Tuesday, May 30th. They noted that the move was a valuation call. Oppenheimer Holdings, Inc. reaffirmed a buy rating on shares of AutoZone in a report on Tuesday, June 20th. Wedbush reaffirmed a neutral rating on shares of AutoZone in a report on Thursday, July 6th. Finally, Jefferies Group LLC reaffirmed a hold rating and issued a $810.00 price target on shares of AutoZone in a report on Tuesday, April 18th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of Hold and an average price target of $775.91.
AutoZone (NYSE AZO) traded up 1.77% during mid-day trading on Friday, hitting $511.46. 651,303 shares of the stock were exchanged. The company has a 50 day moving average of $562.64 and a 200 day moving average of $677.76. AutoZone has a 12-month low of $491.13 and a 12-month high of $818.00. The firm has a market cap of $14.34 billion, a P/E ratio of 11.81 and a beta of 0.62.
AutoZone (NYSE:AZO) last announced its quarterly earnings data on Tuesday, May 23rd. The company reported $11.44 EPS for the quarter, missing the Zacks’ consensus estimate of $12.00 by $0.56. The company had revenue of $2.62 billion for the quarter, compared to analyst estimates of $2.70 billion. AutoZone had a negative return on equity of 70.52% and a net margin of 11.82%. The business’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $10.77 earnings per share. On average, equities analysts anticipate that AutoZone will post $44.01 earnings per share for the current fiscal year.
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In other news, Director Earl G. Graves, Jr. sold 1,000 shares of the company’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 sale, the director now owns 4,431 shares in the company, valued at $2,669,677.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP William T. Giles sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 27th. The stock was sold at an average price of $581.10, for a total value of $5,811,000.00. Following the sale, the vice president now owns 18,500 shares of the company’s stock, valued at approximately $10,750,350. The disclosure for this sale can be found here. 2.60% of the stock is owned by corporate insiders.
Several large investors have recently added to or reduced their stakes in the company. American Beacon Advisors Inc. bought a new stake in AutoZone during the first quarter valued at approximately $104,000. Alpha Windward LLC boosted its stake 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 during the period. Colony Group LLC bought a new stake in AutoZone during the first quarter valued at approximately $205,000. Global X Management Co. LLC boosted its stake in AutoZone by 26.5% in the first quarter. Global X Management Co. LLC now owns 286 shares of the company’s stock valued at $207,000 after buying an additional 60 shares during the period. Finally, Fox Run Management L.L.C. bought a new stake in AutoZone during the first quarter valued at approximately $213,000. Institutional investors and hedge funds own 96.79% 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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