AutoZone’s (AZO) Hold Rating Reaffirmed at Wedbush

Wedbush reissued their hold rating on shares of AutoZone, Inc. (NYSE:AZO) in a report published on Wednesday. The firm currently has a $580.00 price target on the stock, down from their previous price target of $590.00. Wedbush also issued estimates for AutoZone’s Q1 2018 earnings at $9.76 EPS, Q2 2018 earnings at $8.20 EPS, Q3 2018 earnings at $12.11 EPS, Q4 2018 earnings at $16.53 EPS, FY2018 earnings at $46.60 EPS and FY2019 earnings at $51.30 EPS.

A number of other equities research analysts also recently issued reports on the company. Bank of America Corporation restated a buy rating and set a $625.00 price target on shares of AutoZone in a research note on Tuesday, September 5th. Zacks Investment Research upgraded AutoZone from a sell rating to a hold rating in a research note on Tuesday, August 29th. BidaskClub upgraded AutoZone from a strong sell rating to a sell rating in a research note on Monday, July 31st. Deutsche Bank AG restated a hold rating and set a $550.00 price target (down from $650.00) on shares of AutoZone in a research note on Friday, July 21st. Finally, Oppenheimer Holdings, Inc. cut their price target on AutoZone and set an outperform rating for the company in a research note on Thursday, July 20th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of Hold and a consensus price target of $747.27.

AutoZone (AZO) traded down 0.249% during trading on Wednesday, reaching $542.225. 14,788 shares of the company traded hands. The firm has a market capitalization of $15.20 billion, a price-to-earnings ratio of 12.525 and a beta of 0.62. The company’s 50-day moving average price is $534.42 and its 200 day moving average price is $611.55. AutoZone has a 52 week low of $491.13 and a 52 week high of $813.70.

AutoZone (NYSE:AZO) last released its quarterly earnings data on Tuesday, September 19th. The company reported $15.18 EPS for the quarter, topping the consensus estimate of $15.11 by $0.07. AutoZone had a negative return on equity of 74.48% and a net margin of 11.76%. The company had revenue of $3.51 billion during the quarter, compared to the consensus estimate of $3.49 billion. During the same period last year, the company earned $14.30 EPS. AutoZone’s revenue for the quarter was up 3.3% on a year-over-year basis. On average, equities research analysts expect that AutoZone will post $47.26 EPS for the current year.

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In other news, VP William T. Giles sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 27th. The stock was sold at an average price of $581.10, for a total transaction of $5,811,000.00. Following the transaction, the vice president now owns 18,500 shares of the company’s stock, valued at approximately $10,750,350. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director William Andrew Mckenna bought 300 shares of the business’s stock in a transaction dated Thursday, July 13th. The shares were bought at an average cost of $507.00 per share, for a total transaction of $152,100.00. Following the transaction, the director now owns 5,131 shares in the company, valued at approximately $2,601,417. The disclosure for this purchase can be found here. Insiders own 2.60% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the business. Alpha Windward LLC grew its position in AutoZone by 3.2% in the 2nd quarter. Alpha Windward LLC now owns 259 shares of the company’s stock valued at $148,000 after acquiring an additional 8 shares during the last quarter. Nippon Life Insurance Co. grew its position in AutoZone by 0.4% in the 2nd quarter. Nippon Life Insurance Co. now owns 2,022 shares of the company’s stock valued at $1,153,000 after acquiring an additional 8 shares during the last quarter. Cetera Investment Advisers grew its position in AutoZone by 1.1% in the 2nd quarter. Cetera Investment Advisers now owns 730 shares of the company’s stock valued at $417,000 after acquiring an additional 8 shares during the last quarter. Salem Investment Counselors Inc. grew its position in AutoZone by 3.5% in the 2nd quarter. Salem Investment Counselors Inc. now owns 264 shares of the company’s stock valued at $151,000 after acquiring an additional 9 shares during the last quarter. Finally, Bristlecone Advisors LLC grew its position in AutoZone by 1.2% in the 1st quarter. Bristlecone Advisors LLC now owns 856 shares of the company’s stock valued at $619,000 after acquiring an additional 10 shares during the last quarter. 96.08% of the stock is currently owned by institutional investors.

About AutoZone

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.

Analyst Recommendations for AutoZone (NYSE:AZO)

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