AutoZone (NYSE:AZO)'s stock had its "outperform" rating reissued by equities research analysts at Wedbush in a research note issued on Tuesday, 24/7 WallStreet reports. They currently have a $1,300.00 price objective on the stock. Wedbush's target price would suggest a potential upside of 16.14% from the stock's previous close.
Other research analysts have also issued research reports about the stock. Nomura raised their price objective on shares of AutoZone from $1,210.00 to $1,290.00 and gave the company a "buy" rating in a report on Wednesday, May 27th. Credit Suisse Group reissued a "buy" rating on shares of AutoZone in a research report on Wednesday, May 27th. Wells Fargo & Co increased their target price on shares of AutoZone from $1,050.00 to $1,175.00 and gave the company an "overweight" rating in a research report on Thursday, May 14th. Bank of America increased their target price on shares of AutoZone from $950.00 to $1,070.00 and gave the company a "neutral" rating in a research report on Sunday, April 19th. Finally, Oppenheimer reissued a "buy" rating on shares of AutoZone in a research report on Tuesday, May 26th. Five equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. The company has an average rating of "Buy" and an average target price of $1,215.88.
Shares of NYSE:AZO traded down $8.60 on Tuesday, hitting $1,119.32. The company had a trading volume of 1,177 shares, compared to its average volume of 239,607. AutoZone has a 1-year low of $684.91 and a 1-year high of $1,274.41. The stock has a market cap of $26.34 billion, a price-to-earnings ratio of 17.63, a P/E/G ratio of 1.88 and a beta of 0.91. The stock has a 50 day moving average price of $1,114.46 and a 200 day moving average price of $1,066.49.
AutoZone (NYSE:AZO) last released its quarterly earnings results on Tuesday, May 26th. The company reported $14.39 EPS for the quarter, beating the Thomson Reuters' consensus estimate of $13.80 by $0.59. AutoZone had a net margin of 12.90% and a negative return on equity of 91.18%. The business had revenue of $2.78 billion for the quarter, compared to the consensus estimate of $2.65 billion. During the same period in the prior year, the company posted $15.99 earnings per share. AutoZone's revenue was down .1% compared to the same quarter last year. On average, equities analysts predict that AutoZone will post 62.52 EPS for the current year.
In other AutoZone news, VP Philip B. Daniele sold 176 shares of the firm's stock in a transaction on Wednesday, June 24th. The stock was sold at an average price of $1,100.21, for a total transaction of $193,636.96. Following the transaction, the vice president now directly owns 247 shares in the company, valued at approximately $271,751.87. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Kristen C. Wright sold 1,890 shares of AutoZone stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $1,140.00, for a total value of $2,154,600.00. Following the sale, the vice president now owns 2,137 shares in the company, valued at $2,436,180. The disclosure for this sale can be found here. 2.50% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Wealth Quarterback LLC purchased a new position in AutoZone during the 4th quarter valued at about $5,333,210,000. Norges Bank purchased a new position in AutoZone during the 4th quarter valued at about $313,996,000. Advisor Group Holdings Inc. purchased a new position in shares of AutoZone during the first quarter worth about $4,837,000. Fiera Capital Corp grew its holdings in shares of AutoZone by 8.3% during the first quarter. Fiera Capital Corp now owns 655,807 shares of the company's stock worth $554,809,000 after purchasing an additional 50,079 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its holdings in shares of AutoZone by 48.4% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 151,716 shares of the company's stock worth $128,352,000 after purchasing an additional 49,453 shares in the last quarter. Institutional investors own 91.75% of the company's stock.
AutoZone Company Profile
AutoZone, Inc retails and distributes automotive replacement parts and accessories. The company offers various products for cars, sport utility vehicles, vans, and light trucks, including new and remanufactured automotive hard parts, maintenance items, accessories, and non-automotive products. Its products include A/C compressors, batteries and accessories, bearings, belts and hoses, calipers, carburetors, chassis, clutches, CV axles, engines, fuel pumps, fuses, ignition and lighting products, mufflers, radiators, starters and alternators, thermostats, and water pumps.
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