Traders Buy Shares of AutoZone, Inc. (AZO) on Weakness on Insider Selling
Traders bought shares of AutoZone, Inc. (NYSE:AZO) on weakness during trading hours on Monday after an insider sold shares in the company. $78.65 million flowed into the stock on the tick-up and $45.33 million flowed out of the stock on the tick-down, for a money net flow of $33.32 million into the stock. Of all equities tracked, AutoZone had the 18th highest net in-flow for the day. AutoZone traded down ($0.98) for the day and closed at $729.79Specifically, Director Earl G. Graves, Jr. sold 1,000 shares of the stock in a transaction dated Thursday, March 16th. The shares were sold at an average price of $714.96, for a total transaction of $714,960.00. Following the transaction, the director now directly owns 4,431 shares in the company, valued at approximately $3,167,987.76. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider William W. Graves sold 12,000 shares of the stock in a transaction dated Wednesday, March 1st. The stock was sold at an average price of $736.78, for a total transaction of $8,841,360.00. Following the transaction, the insider now owns 14,667 shares in the company, valued at $10,806,352.26. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 13,660 shares of company stock worth $10,077,581. Company insiders own 2.60% of the company’s stock.
Several research analysts have issued reports on AZO shares. Credit Suisse Group AG reiterated a “buy” rating and set a $814.00 target price on shares of AutoZone in a report on Wednesday, November 23rd. Zacks Investment Research upgraded shares of AutoZone from a “hold” rating to a “buy” rating and set a $889.00 target price on the stock in a report on Wednesday, November 23rd. JPMorgan Chase & Co. upgraded shares of AutoZone from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $808.00 to $910.00 in a report on Wednesday, December 7th. Royal Bank of Canada increased their target price on shares of AutoZone from $855.00 to $880.00 and gave the stock a “sector perform” rating in a report on Wednesday, December 7th. Finally, Wedbush reiterated an “outperform” rating and set a $870.00 target price on shares of AutoZone in a report on Wednesday, December 7th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. AutoZone has an average rating of “Buy” and a consensus price target of $868.00.
The company has a market capitalization of $20.78 billion, a PE ratio of 17.12 and a beta of 0.58. The company’s 50-day moving average is $729.40 and its 200 day moving average is $756.05.
AutoZone (NYSE:AZO) last issued its quarterly earnings data on Tuesday, February 28th. The company reported $8.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $8.19 by $0.11. The company earned $2.29 billion during the quarter, compared to analysts’ expectations of $2.34 billion. AutoZone had a net margin of 11.77% and a negative return on equity of 69.22%. The firm’s quarterly revenue was up 1.4% on a year-over-year basis. During the same quarter last year, the firm posted $7.43 earnings per share. On average, equities research analysts anticipate that AutoZone, Inc. will post $45.37 earnings per share for the current fiscal year.
A number of hedge funds have recently modified their holdings of the stock. 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 valued at $186,000 after buying an additional 2 shares during the period. Mutual of America Capital Management LLC increased its position in AutoZone by 0.3% in the third quarter. Mutual of America Capital Management LLC now owns 4,457 shares of the company’s stock valued at $3,424,000 after buying an additional 13 shares in the last quarter. Summit Asset Management LLC increased its position in AutoZone by 0.6% in the third quarter. Summit Asset Management LLC now owns 2,093 shares of the company’s stock valued at $1,608,000 after buying an additional 13 shares in the last quarter. Checchi Capital Advisers LLC increased its position in AutoZone by 3.7% in the third quarter. Checchi Capital Advisers LLC now owns 360 shares of the company’s stock valued at $277,000 after buying an additional 13 shares in the last quarter. Finally, Stephens Inc. AR increased its position in AutoZone by 2.3% in the third quarter. Stephens Inc. AR now owns 794 shares of the company’s stock valued at $610,000 after buying an additional 18 shares in the last quarter. Hedge funds and other institutional investors own 96.42% of the company’s stock.
Your IP Address:
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.
Receive News & Stock Ratings for AutoZone Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AutoZone Inc. and related stocks with our FREE daily email newsletter.