Shares of AutoZone, Inc. (NYSE:AZO) have been given a consensus recommendation of “Hold” by the twenty-six ratings firms that are covering the company, MarketBeat reports. Two research analysts have rated the stock with a sell recommendation, twelve have given a hold recommendation and nine have issued a buy recommendation on the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $752.47.
A number of research firms have recently weighed in on AZO. Zacks Investment Research raised AutoZone from a “hold” rating to a “buy” rating and set a $819.00 price objective for the company in a research note on Tuesday, February 6th. Barclays upped their target price on AutoZone from $710.00 to $800.00 in a report on Thursday, December 7th. Jefferies Group restated a “hold” rating and set a $720.00 target price on shares of AutoZone in a report on Wednesday, December 6th. Royal Bank of Canada upped their target price on AutoZone and gave the company a “sector perform” rating in a report on Wednesday, December 6th. Finally, Moffett Nathanson assumed coverage on AutoZone in a report on Monday, December 4th. They set a “neutral” rating for the company.
In other AutoZone news, VP Richard Craig Smith sold 2,700 shares of the stock in a transaction on Thursday, January 4th. The stock was sold at an average price of $760.00, for a total value of $2,052,000.00. Following the completion of the transaction, the vice president now owns 4,500 shares in the company, valued at $3,420,000. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider James C. Griffith sold 1,250 shares of the stock in a transaction on Friday, January 19th. The stock was sold at an average price of $794.70, for a total value of $993,375.00. Following the completion of the transaction, the insider now owns 1,353 shares of the company’s stock, valued at approximately $1,075,229.10. The disclosure for this sale can be found here. In the last quarter, insiders sold 18,887 shares of company stock valued at $14,165,983. 2.80% of the stock is owned by corporate insiders.
AZO stock traded down $0.92 during trading hours on Friday, hitting $648.09. The stock had a trading volume of 178,881 shares, compared to its average volume of 458,139. The stock has a market capitalization of $17,753.48, a price-to-earnings ratio of 13.78, a PEG ratio of 1.04 and a beta of 0.85. AutoZone has a 52-week low of $491.13 and a 52-week high of $797.89. The company has a debt-to-equity ratio of -3.79, a quick ratio of 0.14 and a current ratio of 0.98.
AutoZone (NYSE:AZO) last released its quarterly earnings data on Tuesday, February 27th. The company reported $8.47 earnings per share for the quarter, missing analysts’ consensus estimates of $8.81 by ($0.34). The company had revenue of $2.41 billion for the quarter, compared to analysts’ expectations of $2.39 billion. AutoZone had a net margin of 12.00% and a negative return on equity of 88.86%. The business’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same period last year, the company posted $7.75 EPS. equities research analysts forecast that AutoZone will post 49.48 EPS for the current fiscal year.
AutoZone declared that its board has initiated a share repurchase program on Tuesday, March 20th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the company to reacquire shares of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.
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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 October 27, 2016, the Company operated through 6,029 locations in the United States, Puerto Rico, Mexico and Brazil.
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