AutoZone, Inc. (AZO) Given Consensus Rating of “Buy” by Analysts

AutoZone, Inc. (AZO) Given Consensus Rating of “Buy” by Analysts

Shares of AutoZone, Inc. (NYSE:AZO) have been assigned a consensus rating of “Buy” from the twenty-four brokerages that are presently covering the firm. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $868.60.

Several equities analysts have commented on AZO shares. Jefferies Group LLC reissued a “hold” rating and issued a $810.00 target price on shares of AutoZone in a report on Wednesday, October 19th. Credit Suisse Group set a $814.00 target price on shares of AutoZone and gave the company a “buy” rating in a report on Friday, October 21st. Argus reissued a “buy” rating and issued a $875.00 target price on shares of AutoZone in a report on Saturday, October 22nd. Zacks Investment Research raised shares of AutoZone from a “sell” rating to a “hold” rating in a report on Monday, October 31st. Finally, J P Morgan Chase & Co raised shares of AutoZone from a “neutral” rating to an “overweight” rating and raised their target price for the company from $808.00 to $910.00 in a report on Wednesday, December 7th.

In related news, VP Charles Pleas III sold 5,600 shares of the business’s stock in a transaction on Wednesday, December 7th. The shares were sold at an average price of $808.75, for a total transaction of $4,529,000.00. Following the transaction, the vice president now owns 9,722 shares in the company, valued at approximately $7,862,667.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman William C. Rhodes III sold 32,000 shares of the business’s stock in a transaction on Wednesday, December 7th. The shares were sold at an average price of $793.04, for a total transaction of $25,377,280.00. Following the transaction, the chairman now owns 50,129 shares in the company, valued at approximately $39,754,302.16. The disclosure for this sale can be found here. Insiders have sold a total of 38,260 shares of company stock worth $30,427,541 in the last quarter. 2.60% of the stock is owned by corporate insiders.

A number of hedge funds have recently made changes to their positions in the stock. LS Investment Advisors LLC raised its stake in shares of AutoZone by 2.2% in the second quarter. LS Investment Advisors LLC now owns 3,870 shares of the company’s stock worth $3,072,000 after buying an additional 84 shares during the period. Garrison Financial Corp raised its stake in shares of AutoZone by 1.9% in the second quarter. Garrison Financial Corp now owns 4,906 shares of the company’s stock worth $3,895,000 after buying an additional 93 shares during the period. Savant Capital LLC raised its stake in shares of AutoZone by 13.0% in the second quarter. Savant Capital LLC now owns 610 shares of the company’s stock worth $484,000 after buying an additional 70 shares during the period. LMR Partners LLP raised its stake in shares of AutoZone by 15.2% in the second quarter. LMR Partners LLP now owns 1,663 shares of the company’s stock worth $1,320,000 after buying an additional 219 shares during the period. Finally, Sumitomo Mitsui Asset Management Company LTD raised its stake in shares of AutoZone by 1.1% in the second quarter. Sumitomo Mitsui Asset Management Company LTD now owns 2,320 shares of the company’s stock worth $1,841,000 after buying an additional 26 shares during the period. Institutional investors and hedge funds own 95.90% of the company’s stock.

Shares of AutoZone (NYSE:AZO) traded down 0.71% during trading on Friday, reaching $724.74. 123,577 shares of the company traded hands. The firm has a market capitalization of $20.74 billion, a price-to-earnings ratio of 17.32 and a beta of 0.62. AutoZone has a 12-month low of $681.01 and a 12-month high of $819.54. The company has a 50 day moving average price of $786.27 and a 200 day moving average price of $772.95.

AutoZone (NYSE:AZO) last released its earnings results on Tuesday, December 6th. The company reported $9.36 EPS for the quarter, beating the consensus estimate of $9.31 by $0.05. AutoZone had a net margin of 11.77% and a negative return on equity of 69.22%. The firm had revenue of $2.50 billion for the quarter, compared to analyst estimates of $2.49 billion. During the same period last year, the firm earned $8.29 EPS. The business’s quarterly revenue was up 3.9% compared to the same quarter last year. On average, equities analysts predict that AutoZone will post $45.54 EPS for the current year.

About AutoZone

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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