AutoZone (AZO) Stock Rating Reaffirmed by Raymond James Financial

Raymond James Financial restated their hold rating on shares of AutoZone (NYSE:AZO) in a research note published on Saturday morning.

Other equities analysts have also recently issued reports about the company. UBS restated a buy rating and set a $655.00 target price (down from $725.00) on shares of AutoZone in a report on Wednesday, September 20th. Credit Suisse Group restated a buy rating and set a $583.00 target price on shares of AutoZone in a report on Wednesday, September 20th. Citigroup restated a buy rating and set a $700.00 target price on shares of AutoZone in a report on Wednesday, September 20th. Bank of America restated a buy rating and set a $625.00 target price on shares of AutoZone in a report on Tuesday, September 5th. Finally, Oppenheimer restated a buy rating on shares of AutoZone in a report on Thursday, September 21st. Three research analysts have rated the stock with a sell rating, twelve have given a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of Hold and a consensus price target of $729.20.

Shares of AutoZone (NYSE:AZO) opened at $712.76 on Friday. The company has a current ratio of 0.97, a quick ratio of 0.15 and a debt-to-equity ratio of -3.56. The stock has a market capitalization of $19,513.37, a PE ratio of 16.11, a P/E/G ratio of 1.31 and a beta of 0.72. AutoZone has a 52-week low of $491.13 and a 52-week high of $813.70.

AutoZone (NYSE:AZO) last issued its quarterly earnings data on Tuesday, December 5th. The company reported $10.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $9.90 by $0.10. The firm had revenue of $2.59 billion during the quarter, compared to the consensus estimate of $2.54 billion. AutoZone had a negative return on equity of 74.48% and a net margin of 11.76%. The company’s quarterly revenue was up 4.9% on a year-over-year basis. During the same period last year, the company earned $9.36 EPS. analysts predict that AutoZone will post 46.78 earnings per share for the current fiscal year.

In other news, Director William Andrew Mckenna sold 3,000 shares of AutoZone stock in a transaction dated Thursday, September 28th. The stock was sold at an average price of $584.96, for a total value of $1,754,880.00. Following the completion of the transaction, the director now owns 8,131 shares in the company, valued at approximately $4,756,309.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.80% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in AZO. Tobam purchased a new stake in AutoZone during the second quarter worth approximately $3,912,000. Private Management Group Inc. purchased a new stake in AutoZone during the second quarter worth approximately $21,538,000. Numeric Investors LLC lifted its stake in AutoZone by 9.7% during the second quarter. Numeric Investors LLC now owns 2,150 shares of the company’s stock worth $1,226,000 after purchasing an additional 190 shares during the last quarter. Aviva PLC lifted its stake in AutoZone by 0.6% during the second quarter. Aviva PLC now owns 17,992 shares of the company’s stock worth $10,258,000 after purchasing an additional 100 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale lifted its stake in AutoZone by 35.5% during the third quarter. DekaBank Deutsche Girozentrale now owns 12,904 shares of the company’s stock worth $6,759,000 after purchasing an additional 3,379 shares during the last quarter. Institutional investors and hedge funds own 98.89% of the company’s stock.

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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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