AutoZone, Inc. (NYSE:AZO) insider William R. Hackney sold 5,700 shares of the firm’s stock in a transaction that occurred on Friday, December 7th. The stock was sold at an average price of $870.00, for a total transaction of $4,959,000.00. Following the sale, the insider now owns 3,998 shares of the company’s stock, valued at approximately $3,478,260. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.
AutoZone stock traded up $1.48 during mid-day trading on Friday, reaching $870.16. The company’s stock had a trading volume of 394,567 shares, compared to its average volume of 363,585. AutoZone, Inc. has a 12-month low of $590.76 and a 12-month high of $894.37. The firm has a market capitalization of $22.20 billion, a price-to-earnings ratio of 17.29, a P/E/G ratio of 1.22 and a beta of 0.89.
AutoZone (NYSE:AZO) last released its quarterly earnings data on Tuesday, December 4th. The company reported $13.47 earnings per share for the quarter, beating analysts’ consensus estimates of $12.21 by $1.26. AutoZone had a net margin of 12.49% and a negative return on equity of 102.31%. The business had revenue of $2.64 billion during the quarter, compared to analyst estimates of $2.64 billion. During the same period in the previous year, the business earned $10.00 EPS. AutoZone’s revenue was up 2.0% compared to the same quarter last year. Equities research analysts anticipate that AutoZone, Inc. will post 59.05 earnings per share for the current fiscal year.
AutoZone declared that its board has authorized a share repurchase plan on Wednesday, September 26th that allows the company to repurchase $1.25 billion in shares. This repurchase authorization allows the company to purchase up to 6.1% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its shares are undervalued.
A number of institutional investors have recently added to or reduced their stakes in AZO. Massey Quick Simon & CO. LLC boosted its holdings in AutoZone by 222.4% in the 3rd quarter. Massey Quick Simon & CO. LLC now owns 187 shares of the company’s stock valued at $145,000 after purchasing an additional 129 shares during the period. Bronfman E.L. Rothschild L.P. boosted its holdings in AutoZone by 197.5% in the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 235 shares of the company’s stock valued at $158,000 after purchasing an additional 156 shares during the period. ELM Advisors LLC bought a new position in AutoZone in the 3rd quarter valued at $163,000. Flagship Harbor Advisors LLC bought a new position in AutoZone in the 2nd quarter valued at $173,000. Finally, Paragon Capital Management Ltd bought a new position in AutoZone in the 2nd quarter valued at $201,000. Institutional investors and hedge funds own 92.10% of the company’s stock.
Several equities research analysts have recently issued reports on the stock. Argus decreased their price target on shares of AutoZone to $820.00 and set a “buy” rating for the company in a research note on Thursday, August 30th. Credit Suisse Group set a $854.00 price target on shares of AutoZone and gave the stock a “buy” rating in a research note on Wednesday, November 28th. Morgan Stanley raised their price target on shares of AutoZone from $760.00 to $800.00 and gave the stock an “equal weight” rating in a research note on Tuesday, November 6th. Zacks Investment Research upgraded shares of AutoZone from a “hold” rating to a “buy” rating and set a $860.00 price target for the company in a research note on Tuesday, August 28th. Finally, Stephens restated a “buy” rating and set a $825.00 price target on shares of AutoZone in a research note on Wednesday, September 19th. They noted that the move was a valuation call. Six analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $866.74.
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AutoZone Company Profile
AutoZone Inc retails and distributes automotive replacement parts and accessories. The company offers various products for cars, sport utility vehicles, vans, and light trucks, including new and remanufactured automotive hard parts, maintenance items, accessories, and non-automotive products. Its products include A/C compressors, batteries and accessories, bearings, belts and hoses, calipers, carburetors, chassis, clutches, CV axles, engines, fuel pumps, fuses, ignition and lighting products, mufflers, radiators, starters and alternators, thermostats, and water pumps.
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