AutoZone (NYSE:AZO) Now Covered by BMO Capital Markets

BMO Capital Markets started coverage on shares of AutoZone (NYSE:AZO) in a research report released on Friday, Marketbeat Ratings reports. The brokerage issued an outperform rating and a $3,700.00 price objective on the stock.

AZO has been the topic of a number of other research reports. Citigroup boosted their price objective on shares of AutoZone from $3,500.00 to $3,900.00 and gave the stock a “buy” rating in a research report on Wednesday. Redburn Atlantic upgraded AutoZone to a “strong-buy” rating in a report on Tuesday, October 1st. BNP Paribas raised AutoZone to a “strong-buy” rating in a report on Wednesday, September 25th. Morgan Stanley upped their price target on shares of AutoZone from $3,038.00 to $3,125.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 25th. Finally, DA Davidson restated a “neutral” rating and set a $3,025.00 price objective on shares of AutoZone in a research note on Monday, September 30th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, fourteen have assigned a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat.com, AutoZone has a consensus rating of “Moderate Buy” and an average target price of $3,360.47.

AutoZone Trading Up 0.9 %

Shares of AutoZone stock opened at $3,369.01 on Friday. AutoZone has a 12 month low of $2,510.00 and a 12 month high of $3,416.71. The stock’s fifty day simple moving average is $3,155.07 and its 200 day simple moving average is $3,065.08. The company has a market capitalization of $56.95 billion, a PE ratio of 22.51, a PEG ratio of 1.73 and a beta of 0.71.

AutoZone (NYSE:AZO) last issued its quarterly earnings data on Tuesday, December 10th. The company reported $32.52 EPS for the quarter, missing analysts’ consensus estimates of $33.69 by ($1.17). The company had revenue of $4.28 billion for the quarter, compared to analyst estimates of $4.30 billion. AutoZone had a negative return on equity of 53.89% and a net margin of 14.18%. The company’s revenue was up 2.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $32.55 earnings per share. Analysts predict that AutoZone will post 154.29 EPS for the current fiscal year.

Insider Buying and Selling

In other AutoZone news, VP John Scott Murphy sold 1,580 shares of the stock in a transaction dated 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 sale, the vice president now directly owns 1,218 shares in the company, valued at approximately $3,785,166.42. This trade represents a 56.47 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Chairman William C. Rhodes III sold 13,000 shares of the business’s stock in a transaction dated Thursday, October 10th. The shares were sold at an average price of $3,107.15, for a total value of $40,392,950.00. Following the completion of the transaction, the chairman now directly owns 13,857 shares in the company, valued at $43,055,777.55. This represents a 48.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 14,880 shares of company stock valued at $46,225,660 over the last ninety days. 2.10% of the stock is owned by company insiders.

Institutional Trading of AutoZone

Several large investors have recently made changes to their positions in the company. The Manufacturers Life Insurance Company raised its position in AutoZone by 186.8% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 92,870 shares of the company’s stock valued at $292,544,000 after buying an additional 60,483 shares during the last quarter. Verde Capital Management bought a new position in AutoZone in the 3rd quarter valued at $1,137,000. Mizuho Securities USA LLC raised its stake in shares of AutoZone by 592.0% during the 3rd quarter. Mizuho Securities USA LLC now owns 9,210 shares of the company’s stock worth $29,012,000 after purchasing an additional 7,879 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of AutoZone by 0.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 104,665 shares of the company’s stock worth $329,699,000 after buying an additional 466 shares during the last quarter. Finally, Principal Financial Group Inc. grew its position in AutoZone by 1.7% during the third quarter. Principal Financial Group Inc. now owns 21,907 shares of the company’s stock valued at $69,008,000 after buying an additional 360 shares during the period. 92.74% of the stock is currently owned by institutional investors and hedge funds.

About AutoZone

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.