AZO has been the topic of several other reports. Robert W. Baird restated a hold rating and set a $590.00 price target on shares of AutoZone in a report on Friday, October 27th. Bank of America restated a buy rating and set a $625.00 price target on shares of AutoZone in a report on Tuesday, September 5th. Zacks Investment Research upgraded AutoZone from a sell rating to a hold rating in a report on Tuesday, August 29th. Credit Suisse Group set a $640.00 price target on AutoZone and gave the stock a buy rating in a report on Wednesday, November 1st. Finally, Raymond James Financial restated a hold rating on shares of AutoZone in a report on Saturday, December 2nd. Three investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of Hold and an average target price of $730.70.
AutoZone (NYSE AZO) traded down $14.11 during trading hours on Wednesday, hitting $698.65. The stock had a trading volume of 492,900 shares, compared to its average volume of 464,210. The company has a market capitalization of $19,595.57, a PE ratio of 15.96, a P/E/G ratio of 1.31 and a beta of 0.72. The company has a debt-to-equity ratio of -3.56, a quick ratio of 0.15 and a current ratio of 0.97. AutoZone has a 52 week low of $491.13 and a 52 week high of $813.70.
AutoZone (NYSE:AZO) last released its quarterly earnings results on Tuesday, December 5th. The company reported $10.00 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $9.90 by $0.10. The company had revenue of $2.59 billion for the quarter, compared to analysts’ expectations of $2.54 billion. AutoZone had a negative return on equity of 77.27% and a net margin of 11.66%. The business’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same period in the previous year, the business posted $9.36 earnings per share. equities analysts forecast that AutoZone will post 46.78 earnings per share for the current fiscal year.
In other AutoZone news, Director William Andrew Mckenna sold 3,000 shares of the business’s stock in a transaction that occurred on Thursday, September 28th. The stock was sold at an average price of $584.96, for a total value of $1,754,880.00. Following the transaction, the director now directly owns 8,131 shares of the company’s stock, valued at $4,756,309.76. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider James C. Griffith sold 3,623 shares of the business’s stock in a transaction that occurred on Wednesday, December 6th. The shares were sold at an average price of $698.17, for a total value of $2,529,469.91. Following the completion of the transaction, the insider now directly owns 2,016 shares in the company, valued at $1,407,510.72. The disclosure for this sale can be found here. Corporate insiders own 2.60% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the business. JPMorgan Chase & Co. raised its position in shares of AutoZone by 59.7% during the second quarter. JPMorgan Chase & Co. now owns 1,018,416 shares of the company’s stock worth $580,966,000 after purchasing an additional 380,824 shares during the period. Nordea Investment Management AB raised its position in shares of AutoZone by 44.9% during the second quarter. Nordea Investment Management AB now owns 1,027,095 shares of the company’s stock worth $585,917,000 after purchasing an additional 318,188 shares during the period. Koch Industries Inc. acquired a new position in shares of AutoZone during the second quarter worth approximately $297,000. CI Global Investments Inc. raised its position in AutoZone by 437.2% in the 2nd quarter. CI Global Investments Inc. now owns 321,207 shares of the company’s stock valued at $183,236,000 after buying an additional 261,417 shares during the last quarter. Finally, Alyeska Investment Group L.P. purchased a new stake in AutoZone in the 3rd quarter valued at $141,811,000. 98.89% of the stock is currently owned by hedge funds and other institutional investors.
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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