AutoZone (NYSE:AZO) had its target price hoisted by equities researchers at Deutsche Bank from $625.00 to $700.00 in a note issued to investors on Thursday. Deutsche Bank’s target price points to a potential downside of 0.33% from the company’s previous close.
Other equities analysts have also issued reports about the company. Guggenheim lowered AutoZone from a “buy” rating to a “neutral” rating in a research note on Wednesday. Jefferies Group reiterated a “hold” rating and issued a $720.00 price objective on shares of AutoZone in a research note on Wednesday. Wedbush reissued a “hold” rating and set a $580.00 target price (down from $590.00) on shares of AutoZone in a research report on Wednesday, September 20th. Citigroup reissued a “buy” rating and set a $700.00 target price on shares of AutoZone in a research report on Wednesday, September 20th. Finally, UBS reissued a “buy” rating and set a $655.00 target price (down from $725.00) on shares of AutoZone in a research report on Wednesday, September 20th. Three research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. AutoZone currently has a consensus rating of “Hold” and a consensus target price of $742.70.
AutoZone (NYSE AZO) traded up $3.69 during trading on Thursday, hitting $702.34. The stock had a trading volume of 415,744 shares, compared to its average volume of 464,210. The company has a quick ratio of 0.15, a current ratio of 0.97 and a debt-to-equity ratio of -3.56. The company has a market capitalization of $19,595.57, a price-to-earnings ratio of 15.96, a PEG ratio of 1.31 and a beta of 0.72. AutoZone has a twelve month low of $491.13 and a twelve month high of $813.70.
AutoZone (NYSE:AZO) last posted its quarterly earnings data on Tuesday, December 5th. The company reported $10.00 EPS for the quarter, topping analysts’ consensus estimates of $9.90 by $0.10. The business had revenue of $2.59 billion for the quarter, compared to analyst estimates of $2.54 billion. AutoZone had a negative return on equity of 77.27% and a net margin of 11.66%. The firm’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same period in the previous year, the company posted $9.36 earnings per share. analysts predict that AutoZone will post 46.78 earnings per share for the current year.
In other AutoZone news, insider James C. Griffith sold 3,623 shares of AutoZone stock in a transaction that occurred on Wednesday, December 6th. The stock was sold at an average price of $698.17, for a total transaction of $2,529,469.91. Following the sale, the insider now directly owns 2,016 shares of the company’s stock, valued at $1,407,510.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director William Andrew Mckenna sold 3,000 shares of AutoZone stock in a transaction that occurred on Thursday, September 28th. The shares were sold at an average price of $584.96, for a total value of $1,754,880.00. Following the sale, the director now directly owns 8,131 shares in the company, valued at $4,756,309.76. The disclosure for this sale can be found here. 2.60% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AZO. Vanguard Group Inc. boosted its holdings in shares of AutoZone by 1.7% in the 2nd quarter. Vanguard Group Inc. now owns 1,899,758 shares of the company’s stock worth $1,083,735,000 after acquiring an additional 32,542 shares in the last quarter. FMR LLC boosted its holdings in shares of AutoZone by 6.7% in the 2nd quarter. FMR LLC now owns 1,864,473 shares of the company’s stock worth $1,063,608,000 after acquiring an additional 117,019 shares in the last quarter. State Street Corp boosted its holdings in shares of AutoZone by 5.1% in the 2nd quarter. State Street Corp now owns 1,363,261 shares of the company’s stock worth $777,679,000 after acquiring an additional 66,734 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of AutoZone by 27.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,301,355 shares of the company’s stock worth $764,272,000 after acquiring an additional 282,939 shares in the last quarter. Finally, Nordea Investment Management AB boosted its holdings in shares of AutoZone by 4.4% in the 3rd quarter. Nordea Investment Management AB now owns 1,072,553 shares of the company’s stock worth $638,287,000 after acquiring an additional 45,458 shares in the last quarter. 98.89% of the stock is currently owned by institutional investors.
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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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