Credit Suisse Group AG Reiterates Buy Rating for AutoZone Inc. (AZO)
AutoZone Inc. (NYSE:AZO)‘s stock had its “buy” rating reaffirmed by equities researchers at Credit Suisse Group AG in a research report issued on Wednesday. They presently have a $814.00 target price on the stock. Credit Suisse Group AG’s price target indicates a potential upside of 2.55% from the stock’s current price.
A number of other brokerages also recently weighed in on AZO. Morgan Stanley set a $820.00 price objective on AutoZone and gave the company a “hold” rating in a research report on Thursday, August 11th. Zacks Investment Research downgraded AutoZone from a “hold” rating to a “sell” rating in a report on Tuesday, July 26th. Citigroup Inc. reissued a “buy” rating on shares of AutoZone in a report on Thursday, August 25th. Susquehanna assumed coverage on AutoZone in a report on Thursday, August 25th. They issued a “neutral” rating and a $810.00 price target for the company. Finally, TheStreet downgraded AutoZone from a “buy” rating to a “sell” rating in a report on Wednesday, September 28th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $855.13.
Shares of AutoZone (NYSE:AZO) traded up 0.78% on Wednesday, hitting $800.00. The company had a trading volume of 116,262 shares. AutoZone has a 52 week low of $681.01 and a 52 week high of $819.54. The company has a market capitalization of $23.09 billion, a price-to-earnings ratio of 19.66 and a beta of 0.61. The stock’s 50-day moving average is $751.15 and its 200 day moving average is $767.34.
AutoZone (NYSE:AZO) last issued its quarterly earnings data on Thursday, September 22nd. The company reported $14.30 earnings per share for the quarter, beating analysts’ consensus estimates of $14.25 by $0.05. AutoZone had a negative return on equity of 69.23% and a net margin of 11.67%. The company had revenue of $3.40 billion for the quarter. During the same period in the previous year, the business earned $12.75 EPS. AutoZone’s revenue for the quarter was up 3.3% compared to the same quarter last year. Equities analysts expect that AutoZone will post $45.44 EPS for the current year.
Several hedge funds have recently bought and sold shares of the stock. Commonwealth Bank of Australia boosted its stake in AutoZone by 27.6% in the third quarter. Commonwealth Bank of Australia now owns 162 shares of the company’s stock worth $125,000 after buying an additional 35 shares during the period. Invictus RG boosted its stake in AutoZone by 489.7% in the second quarter. Invictus RG now owns 171 shares of the company’s stock worth $136,000 after buying an additional 142 shares during the period. Global X Management Co. LLC boosted its stake in AutoZone by 89.1% in the second quarter. Global X Management Co. LLC now owns 174 shares of the company’s stock worth $138,000 after buying an additional 82 shares during the period. First Personal Financial Services boosted its stake in AutoZone by 126.3% in the second quarter. First Personal Financial Services now owns 215 shares of the company’s stock worth $171,000 after buying an additional 120 shares during the period. Finally, Alpha Windward LLC raised its stake in shares of AutoZone by 0.8% in the third quarter. Alpha Windward LLC now owns 242 shares of the company’s stock worth $186,000 after buying an additional 2 shares in the last quarter. Institutional investors and hedge funds own 97.29% of the company’s stock.
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AutoZone, Inc is a retailer and distributor of automotive replacement parts and accessories in the United States. The Company’s operating segments include Auto Parts Locations and Other. The Auto Parts Locations segment comprises Domestic Auto Parts, Mexico, Brazil and Interamerican Motor Corporation (IMC).
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