Wedbush lowered shares of AutoZone (NYSE:AZO) from an outperform rating to a neutral rating in a research note issued to investors on Monday, January 6th, Benzinga reports. Wedbush currently has $1,225.00 price target on the stock, down from their prior price target of $1,375.00. Wedbush also issued estimates for AutoZone’s Q2 2020 earnings at $11.83 EPS, Q3 2020 earnings at $16.93 EPS, Q4 2020 earnings at $23.10 EPS, FY2020 earnings at $66.16 EPS, Q1 2021 earnings at $15.52 EPS, Q2 2021 earnings at $12.78 EPS, Q3 2021 earnings at $18.67 EPS, Q4 2021 earnings at $25.61 EPS and FY2021 earnings at $72.58 EPS.
A number of other equities research analysts have also commented on the stock. Wolfe Research upgraded shares of AutoZone from an underperform rating to a peer perform rating in a report on Tuesday, December 10th. Oppenheimer restated an outperform rating and set a $1,415.00 price objective (up from $1,225.00) on shares of AutoZone in a report on Wednesday, December 11th. Citigroup raised their price objective on shares of AutoZone from $1,357.00 to $1,363.00 and gave the stock a buy rating in a report on Monday, October 21st. Evercore ISI reaffirmed a hold rating on shares of AutoZone in a research report on Thursday, December 12th. Finally, Raymond James raised their target price on shares of AutoZone from $1,250.00 to $1,350.00 and gave the company a positive rating in a research report on Wednesday, December 11th. One analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have issued a buy rating to the company’s stock. The company currently has an average rating of Buy and a consensus target price of $1,240.40.
AZO traded up $12.11 during mid-day trading on Monday, hitting $1,146.40. The stock had a trading volume of 3,571 shares, compared to its average volume of 196,381. The stock’s fifty day simple moving average is $1,188.81 and its 200-day simple moving average is $1,139.68. The firm has a market capitalization of $27.08 billion, a price-to-earnings ratio of 18.02, a price-to-earnings-growth ratio of 1.53 and a beta of 0.62. AutoZone has a 1-year low of $803.28 and a 1-year high of $1,274.41.
AutoZone (NYSE:AZO) last issued its quarterly earnings data on Tuesday, December 10th. The company reported $14.30 EPS for the quarter, topping analysts’ consensus estimates of $13.74 by $0.56. AutoZone had a net margin of 13.45% and a negative return on equity of 96.86%. The business had revenue of $2.79 billion for the quarter, compared to analyst estimates of $2.76 billion. During the same period last year, the business posted $13.47 earnings per share. The firm’s quarterly revenue was up 5.7% on a year-over-year basis. As a group, analysts forecast that AutoZone will post 66.17 earnings per share for the current year.
In other news, VP William R. Hackney sold 5,054 shares of AutoZone stock in a transaction dated Thursday, December 19th. The shares were sold at an average price of $1,222.09, for a total value of $6,176,442.86. Following the completion of the transaction, the vice president now owns 3,783 shares of the company’s stock, valued at approximately $4,623,166.47. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 2.50% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in AZO. Nuveen Asset Management LLC grew its position in shares of AutoZone by 614.8% in the 2nd quarter. Nuveen Asset Management LLC now owns 195,179 shares of the company’s stock valued at $214,593,000 after acquiring an additional 167,873 shares during the period. BlackRock Inc. boosted its holdings in shares of AutoZone by 7.6% during the 2nd quarter. BlackRock Inc. now owns 2,063,593 shares of the company’s stock worth $2,268,859,000 after buying an additional 146,643 shares during the period. APG Asset Management N.V. boosted its holdings in shares of AutoZone by 28.0% during the 2nd quarter. APG Asset Management N.V. now owns 299,990 shares of the company’s stock worth $289,629,000 after buying an additional 65,700 shares during the period. Maj Invest Holding A S boosted its holdings in shares of AutoZone by 76.5% during the 3rd quarter. Maj Invest Holding A S now owns 97,735 shares of the company’s stock worth $106,004,000 after buying an additional 42,361 shares during the period. Finally, AXA boosted its holdings in shares of AutoZone by 210.2% during the 2nd quarter. AXA now owns 59,371 shares of the company’s stock worth $65,277,000 after buying an additional 40,234 shares during the period. 93.61% of the stock is owned by institutional investors.
AutoZone Company Profile
AutoZone, Inc retails and distributes automotive replacement parts and accessories. The company offers 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. Its products include A/C compressors, batteries and accessories, bearings, belts and hoses, calipers, carburetors, chassis, clutches, CV axles, engines, fuel pumps, fuses, ignition and lighting products, mufflers, radiators, starters and alternators, thermostats, and water pumps.
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