AutoZone (AZO) PT Set at $790.00 by Credit Suisse Group

Credit Suisse Group set a $790.00 target price on AutoZone (NYSE:AZO) in a research report report published on Thursday morning. The brokerage currently has a hold rating on the stock.

AZO has been the topic of several other research reports. Moffett Nathanson assumed coverage on AutoZone in a research report on Monday, December 4th. They issued a neutral rating on the stock. UBS Group reaffirmed a buy rating and issued a $750.00 price objective (down previously from $810.00) on shares of AutoZone in a research report on Wednesday, December 6th. Royal Bank of Canada upped their price objective on AutoZone and gave the company a sector perform rating in a research report on Wednesday, December 6th. Stephens reaffirmed a hold rating and issued a $550.00 price objective (down previously from $620.00) on shares of AutoZone in a research report on Thursday, September 21st. Finally, Guggenheim downgraded AutoZone from a buy rating to a neutral rating in a research report on Wednesday, December 6th. Three analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and eight have assigned a buy rating to the stock. The company currently has an average rating of Hold and an average target price of $726.06.

AutoZone (NYSE:AZO) traded down $3.52 during midday trading on Thursday, hitting $771.98. The stock had a trading volume of 60,623 shares, compared to its average volume of 569,975. The company has a market cap of $21,130.00, a P/E ratio of 17.19, a P/E/G ratio of 1.42 and a beta of 0.71. The company has a current ratio of 0.93, a quick ratio of 0.14 and a debt-to-equity ratio of -3.27. AutoZone has a 52-week low of $491.13 and a 52-week high of $800.00.

AutoZone (NYSE:AZO) last released its earnings results on Tuesday, December 5th. The company reported $10.00 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $9.90 by $0.10. The firm had revenue of $2.59 billion for the quarter, compared to the consensus estimate of $2.54 billion. AutoZone had a negative return on equity of 78.83% and a net margin of 11.66%. The company’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $9.36 EPS. research analysts expect that AutoZone will post 46.73 EPS for the current fiscal year.

In other news, VP Richard Craig Smith sold 2,700 shares of the stock in a transaction on Thursday, January 4th. The stock was sold at an average price of $760.00, for a total transaction of $2,052,000.00. Following the transaction, the vice president now owns 4,500 shares of the company’s stock, valued at approximately $3,420,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider William W. Graves sold 10,500 shares of the stock in a transaction on Wednesday, January 3rd. The stock was sold at an average price of $744.78, for a total value of $7,820,190.00. Following the transaction, the insider now directly owns 12,574 shares in the company, valued at approximately $9,364,863.72. The disclosure for this sale can be found here. Insiders have sold a total of 93,173 shares of company stock worth $66,316,676 in the last three months. Corporate insiders own 2.80% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of the company. AXA grew its position in shares of AutoZone by 0.8% during the 3rd quarter. AXA now owns 38,237 shares of the company’s stock worth $22,755,000 after buying an additional 300 shares in the last quarter. Burgundy Asset Management Ltd. lifted its stake in shares of AutoZone by 0.3% during the 3rd quarter. Burgundy Asset Management Ltd. now owns 592,020 shares of the company’s stock worth $352,317,000 after purchasing an additional 1,888 shares during the last quarter. Public Employees Retirement System of Ohio lifted its stake in shares of AutoZone by 3.3% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 45,781 shares of the company’s stock worth $27,245,000 after purchasing an additional 1,483 shares during the last quarter. Gyroscope Capital Management Group LLC lifted its stake in shares of AutoZone by 31.6% during the 3rd quarter. Gyroscope Capital Management Group LLC now owns 537 shares of the company’s stock worth $320,000 after purchasing an additional 129 shares during the last quarter. Finally, IFM Investors Pty Ltd purchased a new stake in shares of AutoZone during the 3rd quarter worth $503,000. 99.33% of the stock is currently owned by institutional investors and hedge funds.

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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.

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