AutoZone’s (AZO) Buy Rating Reiterated at Guggenheim

AutoZone (NYSE:AZO)‘s stock had its “buy” rating restated by Guggenheim in a note issued to investors on Wednesday,Benzinga reports.

Several other brokerages have also recently commented on AZO. StockNews.com cut shares of AutoZone from a “buy” rating to a “hold” rating in a report on Saturday, September 21st. DA Davidson reaffirmed a “neutral” rating and issued a $3,025.00 target price on shares of AutoZone in a research report on Monday, September 30th. The Goldman Sachs Group lowered AutoZone from a “buy” rating to a “sell” rating and dropped their price target for the company from $3,205.00 to $2,917.00 in a research report on Monday, October 14th. Wedbush restated an “outperform” rating and set a $3,200.00 price objective on shares of AutoZone in a research report on Thursday, September 19th. Finally, Citigroup dropped their target price on AutoZone from $3,787.00 to $3,500.00 and set a “buy” rating on the stock in a report on Wednesday, September 25th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, fifteen have assigned a buy rating and four have issued a strong buy rating to the company. According to MarketBeat.com, AutoZone currently has an average rating of “Moderate Buy” and an average price target of $3,216.44.

AutoZone Trading Up 0.4 %

Shares of AutoZone stock opened at $3,192.44 on Wednesday. AutoZone has a 52 week low of $2,510.00 and a 52 week high of $3,256.37. The stock has a market cap of $53.95 billion, a PE ratio of 21.32, a price-to-earnings-growth ratio of 1.61 and a beta of 0.71. The company’s 50-day moving average price is $3,126.70 and its two-hundred day moving average price is $3,041.13.

AutoZone (NYSE:AZO) last released its earnings results on Tuesday, September 24th. The company reported $48.11 EPS for the quarter, missing the consensus estimate of $53.31 by ($5.20). The business had revenue of $6.21 billion for the quarter, compared to analyst estimates of $6.25 billion. AutoZone had a net margin of 14.40% and a negative return on equity of 52.99%. The firm’s revenue for the quarter was up 9.0% on a year-over-year basis. During the same period in the prior year, the company earned $46.46 earnings per share. On average, equities analysts predict that AutoZone will post 158.09 EPS for the current fiscal year.

Insider Transactions at AutoZone

In related news, Chairman William C. Rhodes III sold 300 shares of the company’s stock in a transaction on Thursday, October 3rd. The shares were sold at an average price of $3,075.20, for a total transaction of $922,560.00. Following the completion of the sale, the chairman now directly owns 13,857 shares of the company’s stock, valued at approximately $42,613,046.40. This represents a 2.12 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP John Scott Murphy sold 1,580 shares of AutoZone stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $3,107.69, for a total transaction of $4,910,150.20. Following the completion of the transaction, the vice president now owns 1,218 shares in the company, valued at $3,785,166.42. This trade represents a 56.47 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 14,880 shares of company stock worth $46,225,660. 2.10% of the stock is owned by corporate insiders.

Institutional Trading of AutoZone

Several hedge funds have recently added to or reduced their stakes in AZO. Conning Inc. lifted its holdings in shares of AutoZone by 4.3% during the second quarter. Conning Inc. now owns 98 shares of the company’s stock worth $290,000 after buying an additional 4 shares during the last quarter. Whittier Trust Co. of Nevada Inc. increased its position in AutoZone by 14.3% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 32 shares of the company’s stock worth $95,000 after acquiring an additional 4 shares during the period. Brighton Jones LLC raised its stake in AutoZone by 4.1% during the 2nd quarter. Brighton Jones LLC now owns 101 shares of the company’s stock valued at $299,000 after purchasing an additional 4 shares during the last quarter. Fidelis Capital Partners LLC boosted its holdings in AutoZone by 2.6% in the 2nd quarter. Fidelis Capital Partners LLC now owns 159 shares of the company’s stock valued at $490,000 after purchasing an additional 4 shares during the period. Finally, Petredis Investment Advisors LLC grew its position in AutoZone by 0.6% in the 3rd quarter. Petredis Investment Advisors LLC now owns 710 shares of the company’s stock worth $2,237,000 after purchasing an additional 4 shares during the last quarter. Institutional investors own 92.74% of the company’s stock.

AutoZone Company Profile

AutoZone, Inc retails and distributes automotive replacement parts and accessories in the United States, Mexico, and Brazil. The company provides 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.