AutoZone (NYSE:AZO) Director Sells $324,173.03 in Stock

AutoZone, Inc. (NYSE:AZO) Director George Mrkonic, Jr. sold 97 shares of the company’s stock in a transaction that occurred on Friday, January 2nd. The shares were sold at an average price of $3,341.99, for a total value of $324,173.03. Following the sale, the director directly owned 3,564 shares in the company, valued at approximately $11,910,852.36. This represents a 2.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

AutoZone Trading Down 1.1%

AZO traded down $35.44 on Monday, reaching $3,268.38. The company had a trading volume of 165,406 shares, compared to its average volume of 170,234. The company has a fifty day moving average of $3,661.01 and a 200-day moving average of $3,867.91. AutoZone, Inc. has a one year low of $3,162.00 and a one year high of $4,388.11. The company has a market capitalization of $54.16 billion, a P/E ratio of 22.79, a PEG ratio of 1.57 and a beta of 0.42.

AutoZone (NYSE:AZO) last released its earnings results on Tuesday, December 9th. The company reported $31.04 earnings per share for the quarter, missing the consensus estimate of $32.69 by ($1.65). AutoZone had a net margin of 12.78% and a negative return on equity of 65.38%. The business had revenue of $4.63 billion for the quarter, compared to analysts’ expectations of $4.64 billion. During the same period last year, the firm earned $32.52 EPS. The company’s revenue was up 8.2% compared to the same quarter last year. Research analysts predict that AutoZone, Inc. will post 152.94 EPS for the current year.

AutoZone announced that its Board of Directors has approved a stock buyback plan on Wednesday, October 8th that permits the company to repurchase $0.00 in outstanding shares. This repurchase authorization permits the company to buy shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

Analyst Upgrades and Downgrades

AZO has been the topic of several analyst reports. BNP Paribas Exane dropped their price target on shares of AutoZone from $4,811.00 to $4,268.00 and set an “outperform” rating on the stock in a research report on Wednesday, December 10th. The Goldman Sachs Group cut their price target on AutoZone from $4,262.00 to $4,234.00 and set a “buy” rating for the company in a research note on Wednesday, December 10th. Baird R W upgraded AutoZone to a “strong-buy” rating in a research report on Thursday, December 4th. Morgan Stanley upped their price target on shares of AutoZone from $4,000.00 to $4,700.00 and gave the company an “overweight” rating in a research report on Wednesday, September 24th. Finally, Mizuho reiterated a “neutral” rating and issued a $3,550.00 price objective (down previously from $3,850.00) on shares of AutoZone in a report on Monday. Two research analysts have rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, AutoZone presently has a consensus rating of “Moderate Buy” and a consensus target price of $4,330.84.

Institutional Investors Weigh In On AutoZone

Institutional investors have recently added to or reduced their stakes in the business. Turning Point Benefit Group Inc. acquired a new position in shares of AutoZone in the 3rd quarter valued at about $25,000. Raleigh Capital Management Inc. acquired a new stake in shares of AutoZone during the 3rd quarter worth about $26,000. Aspect Partners LLC grew its stake in shares of AutoZone by 700.0% in the second quarter. Aspect Partners LLC now owns 8 shares of the company’s stock valued at $30,000 after buying an additional 7 shares in the last quarter. Global Trust Asset Management LLC raised its stake in shares of AutoZone by 600.0% in the third quarter. Global Trust Asset Management LLC now owns 7 shares of the company’s stock valued at $30,000 after acquiring an additional 6 shares in the last quarter. Finally, Bank of Jackson Hole Trust acquired a new stake in shares of AutoZone in the 2nd quarter valued at $33,000. Institutional investors and hedge funds own 92.74% of the company’s stock.

AutoZone Company Profile

AutoZone, Inc (NYSE: AZO) is a retailer and distributor of automotive replacement parts and accessories. Headquartered in Memphis, Tennessee, the company supplies a wide range of aftermarket components, maintenance items and accessories for passenger cars, light trucks and commercial vehicles. Its product assortment includes engine parts, electrical components, batteries, brakes, filters, fluids and interior and exterior accessories, supported by inventory management and logistics systems to serve retail customers and professional service providers.

AutoZone serves both do‑it‑yourself (DIY) consumers and commercial customers such as independent repair shops and service centers.