The Traders Purchase Large Volume of AutoZone Put Options (AZO)

The Traders Purchase Large Volume of AutoZone Put Options (AZO)

AutoZone (AZO) traded down 0.56% during mid-day trading on Wednesday, reaching $544.81. 382,980 shares of the company traded hands. The company has a market capitalization of $15.27 billion, a P/E ratio of 12.58 and a beta of 0.61. The stock has a 50 day moving average price of $542.34 and a 200-day moving average price of $661.28. AutoZone has a 52-week low of $491.13 and a 52-week high of $813.70.

AutoZone, Inc. (NYSE:AZO) saw unusually large options trading activity on Wednesday. Investors purchased 5,531 put options on the company. This represents an increase of approximately 502% compared to the average daily volume of 919 put options.

AutoZone (NYSE:AZO) last released its quarterly earnings data on Tuesday, May 23rd. The company reported $11.44 earnings per share for the quarter, missing the consensus estimate of $12.00 by $0.56. The business had revenue of $2.62 billion during the quarter, compared to analyst estimates of $2.70 billion. AutoZone had a net margin of 11.82% and a negative return on equity of 70.52%. The business’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same period last year, the business earned $10.77 earnings per share. Analysts expect that AutoZone will post $43.98 EPS for the current fiscal year.

In other AutoZone news, Director William Andrew Mckenna bought 300 shares of the business’s stock in a transaction on Thursday, July 13th. The stock was bought at an average price of $507.00 per share, for a total transaction of $152,100.00. Following the completion of the transaction, the director now owns 5,131 shares in the company, valued at approximately $2,601,417. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP William T. Giles sold 10,000 shares of AutoZone stock in a transaction dated Tuesday, June 27th. The stock was sold at an average price of $581.10, for a total transaction of $5,811,000.00. Following the transaction, 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. Insiders own 2.60% of the company’s stock.

Institutional investors have recently bought and sold shares of the stock. American Beacon Advisors Inc. purchased a new position in AutoZone during the first quarter valued at approximately $104,000. Alpha Windward LLC increased its position in AutoZone by 3.2% in the second quarter. Alpha Windward LLC now owns 259 shares of the company’s stock valued at $148,000 after buying an additional 8 shares in the last quarter. Global X Management Co. LLC increased its position in AutoZone by 12.9% in the second quarter. Global X Management Co. LLC now owns 323 shares of the company’s stock valued at $184,000 after buying an additional 37 shares in the last quarter. Colony Group LLC purchased a new position in AutoZone during the first quarter valued at approximately $205,000. Finally, Fox Run Management L.L.C. purchased a new position in AutoZone during the first quarter valued at approximately $213,000. Hedge funds and other institutional investors own 96.99% of the company’s stock.

AZO has been the subject of a number of analyst reports. Barclays PLC cut their price objective on shares of AutoZone from $870.00 to $710.00 and set an “overweight” rating for the company in a research report on Thursday, July 6th. Wolfe Research lowered shares of AutoZone from a “market perform” rating to an “underperform” rating in a research report on Monday, July 17th. Goldman Sachs Group, Inc. (The) raised shares of AutoZone from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $615.62 to $662.00 in a research 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 research report on Tuesday, June 20th. Finally, Wedbush reaffirmed a “neutral” rating on shares of AutoZone in a research report on Thursday, July 6th. Two analysts have rated the stock with a sell rating, fourteen have given a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $775.91.

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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