AutoZone, Inc. (AZO) Downgraded by Wolfe Research
AZO has been the topic of several other reports. Barclays PLC cut their price objective on AutoZone from $870.00 to $710.00 and set an overweight rating on the stock in a research report on Thursday, July 6th. Goldman Sachs Group, Inc. (The) raised AutoZone from a neutral rating to a buy rating and lifted their price objective for the company from $615.62 to $662.00 in a research report on Tuesday, May 30th. They noted that the move was a valuation call. Oppenheimer Holdings, Inc. reaffirmed a buy rating on shares of AutoZone in a research report on Tuesday, June 20th. Wedbush reaffirmed a neutral rating on shares of AutoZone in a research report on Thursday, July 6th. Finally, Jefferies Group LLC reaffirmed a hold rating and set a $810.00 price objective on shares of AutoZone in a research report on Tuesday, April 18th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of Hold and a consensus price target of $780.26.
AutoZone (AZO) opened at 493.44 on Monday. The firm has a market capitalization of $13.83 billion, a P/E ratio of 11.40 and a beta of 0.62. The stock has a 50 day moving average price of $565.59 and a 200-day moving average price of $679.04. AutoZone has a 52 week low of $491.90 and a 52 week high of $818.00.
AutoZone (NYSE:AZO) last posted its earnings results on Tuesday, May 23rd. The company reported $11.44 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $12.00 by $0.56. The business had revenue of $2.62 billion during the quarter, compared to the consensus estimate of $2.70 billion. AutoZone had a negative return on equity of 70.52% and a net margin of 11.82%. The firm’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same period in the previous year, the business earned $10.77 earnings per share. Analysts anticipate that AutoZone will post $44.01 EPS for the current fiscal year.
In other news, VP William T. Giles sold 10,000 shares of the business’s stock in a transaction on Tuesday, June 27th. The shares were sold at an average price of $581.10, for a total transaction of $5,811,000.00. Following the completion of the sale, the vice president now owns 18,500 shares of the company’s stock, valued at approximately $10,750,350. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director William Andrew Mckenna acquired 300 shares of the business’s stock in a transaction dated Thursday, July 13th. The shares were acquired at an average cost of $507.00 per share, with a total value of $152,100.00. Following the transaction, the director now owns 5,131 shares in the company, valued at $2,601,417. The disclosure for this purchase can be found here. Insiders own 2.60% of the company’s stock.
Several large investors have recently modified their holdings of the stock. Prospera Financial Services Inc acquired a new stake in shares of AutoZone during the second quarter worth about $938,000. Assenagon Asset Management S.A. acquired a new stake in shares of AutoZone during the second quarter worth about $271,000. Aperio Group LLC increased its stake in shares of AutoZone by 3.1% in the second quarter. Aperio Group LLC now owns 21,558 shares of the company’s stock worth $12,298,000 after buying an additional 644 shares during the last quarter. Alpha Windward LLC increased its stake in shares of AutoZone by 3.2% in the second quarter. Alpha Windward LLC now owns 259 shares of the company’s stock worth $148,000 after buying an additional 8 shares during the last quarter. Finally, Tealwood Asset Management Inc. increased its stake in shares of AutoZone by 2.3% in the second quarter. Tealwood Asset Management Inc. now owns 2,100 shares of the company’s stock worth $1,198,000 after buying an additional 48 shares during the last quarter. 96.79% of the stock is owned by hedge funds and other institutional investors.
AutoZone Company Profile
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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