AutoZone, Inc. (NYSE:AZO – Get Free Report) CFO Jamere Jackson sold 6,900 shares of the business’s stock in a transaction that occurred on Wednesday, November 4th. The stock was sold at an average price of $3,319.71, for a total transaction of $22,905,999.00. Following the sale, the chief financial officer directly owned 496 shares of the company’s stock, valued at approximately $1,646,576.16. This trade represents a 93.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.
AutoZone Stock Down 2.8%
NYSE AZO traded down $91.20 during trading hours on Friday, hitting $3,217.76. The company’s stock had a trading volume of 118,917 shares, compared to its average volume of 255,327. AutoZone, Inc. has a twelve month low of $2,730.65 and a twelve month high of $3,996.25. The firm has a market capitalization of $51.79 billion, a P/E ratio of 21.06, a PEG ratio of 1.71 and a beta of 0.37. The stock has a fifty day moving average of $2,986.92 and a 200 day moving average of $3,256.94.
AutoZone (NYSE:AZO – Get Free Report) last released its earnings results on Tuesday, September 22nd. The company reported $56.05 EPS for the quarter, topping analysts’ consensus estimates of $0.54 by $55.51. AutoZone had a net margin of 12.65% and a negative return on equity of 90.08%. The firm had revenue of $6.59 billion during the quarter, compared to analyst estimates of $6.70 billion. During the same quarter in the previous year, the business earned $48.71 EPS. The business’s quarterly revenue was up 5.6% compared to the same quarter last year. On average, analysts predict that AutoZone, Inc. will post 170.30 earnings per share for the current year.
Analysts Set New Price Targets
Several research firms have recently issued reports on AZO. TD Cowen restated a “buy” rating on shares of AutoZone in a research report on Monday, October 26th. Bank of America assumed coverage on AutoZone in a report on Monday, October 26th. They issued a “buy” rating and a $3,800.00 price objective for the company. Guggenheim cut their target price on AutoZone from $4,000.00 to $3,750.00 and set a “buy” rating on the stock in a research note on Wednesday, September 23rd. DA Davidson cut their target price on AutoZone from $3,750.00 to $3,500.00 and set a “buy” rating on the stock in a research note on Wednesday, September 23rd. Finally, UBS Group set a $3,850.00 target price on AutoZone in a report on Wednesday, September 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, AutoZone presently has an average rating of “Moderate Buy” and a consensus target price of $3,674.36.
View Our Latest Stock Analysis on AutoZone
Institutional Investors Weigh In On AutoZone
Several hedge funds have recently bought and sold shares of AZO. Allworth Financial LP increased its position in shares of AutoZone by 625.7% in the 3rd quarter. Allworth Financial LP now owns 2,743 shares of the company’s stock valued at $7,763,000 after buying an additional 2,365 shares in the last quarter. Russell Investments Group Ltd. raised its stake in AutoZone by 11.7% during the 3rd quarter. Russell Investments Group Ltd. now owns 68,143 shares of the company’s stock worth $192,861,000 after buying an additional 7,136 shares during the period. Eurizon Capital SGR S.p.A. lifted its holdings in AutoZone by 5.1% during the third quarter. Eurizon Capital SGR S.p.A. now owns 2,623 shares of the company’s stock worth $7,443,000 after acquiring an additional 127 shares in the last quarter. Three Bridge Wealth Advisors LLC bought a new position in AutoZone during the third quarter worth about $125,000. Finally, Maryland State Retirement & Pension System lifted its holdings in AutoZone by 13.4% during the third quarter. Maryland State Retirement & Pension System now owns 993 shares of the company’s stock worth $2,810,000 after acquiring an additional 117 shares in the last quarter. 92.74% of the stock is currently owned by institutional investors and hedge funds.
About AutoZone
AutoZone, Inc is a specialty retailer and distributor of automotive replacement parts, equipment and accessories. The company serves do-it-yourself customers, professional automotive technicians and commercial repair businesses through its retail stores, distribution network and digital platforms.
Its merchandise includes replacement batteries, brakes, filters, belts, hoses, ignition components, tools, fluids, lighting products and other maintenance items. AutoZone also offers private-label products under brands such as Duralast, as well as vehicle diagnostic services and parts delivery for commercial customers.
Founded in 1979 as Auto Shack by Pitt Hyde, the company adopted the AutoZone name in 1987.
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