AutoZone (NYSE:AZO) Upgraded at The Goldman Sachs Group

The Goldman Sachs Group upgraded shares of AutoZone (NYSE:AZO) from a neutral rating to a buy rating in a research report released on Thursday, MarketBeat.com reports. They currently have $4,262.00 price target on the stock, up from their previous price target of $4,090.00.

AZO has been the topic of several other reports. Barclays upped their price objective on shares of AutoZone from $3,916.00 to $4,610.00 and gave the company an “overweight” rating in a report on Thursday, September 11th. Raymond James Financial reduced their target price on AutoZone from $4,900.00 to $4,800.00 and set a “strong-buy” rating for the company in a research note on Wednesday, September 24th. Citigroup dropped their price objective on shares of AutoZone from $4,900.00 to $4,775.00 and set a “buy” rating for the company in a research note on Wednesday, September 24th. Guggenheim increased their price objective on AutoZone from $4,100.00 to $4,600.00 and gave the stock a “buy” rating in a research report on Wednesday, September 24th. Finally, DA Davidson set a $4,850.00 price target on shares of AutoZone in a research report on Thursday, November 6th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, AutoZone presently has an average rating of “Moderate Buy” and an average target price of $4,551.56.

AutoZone Trading Up 0.9%

AZO opened at $3,854.18 on Thursday. The firm has a market cap of $64.11 billion, a price-to-earnings ratio of 26.60, a PEG ratio of 1.75 and a beta of 0.37. AutoZone has a 12 month low of $3,036.40 and a 12 month high of $4,388.11. The stock has a fifty day moving average price of $4,010.96 and a 200-day moving average price of $3,890.44.

AutoZone (NYSE:AZO) last posted its earnings results on Tuesday, September 23rd. The company reported $48.71 earnings per share (EPS) for the quarter, missing the consensus estimate of $50.52 by ($1.81). AutoZone had a net margin of 13.19% and a negative return on equity of 60.49%. The company had revenue of $6.24 billion during the quarter, compared to analysts’ expectations of $6.26 billion. During the same quarter last year, the firm earned $51.58 EPS. AutoZone’s revenue for the quarter was up .6% on a year-over-year basis. On average, equities research analysts forecast that AutoZone will post 152.94 EPS for the current year.

AutoZone announced that its Board of Directors has approved a share buyback plan on Wednesday, October 8th that allows the company to repurchase $0.00 in outstanding shares. This repurchase authorization allows the company to repurchase shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s management believes its shares are undervalued.

Insider Transactions at AutoZone

In other news, VP John Scott Murphy sold 2,860 shares of the business’s stock in a transaction dated Wednesday, September 24th. The shares were sold at an average price of $4,175.70, for a total value of $11,942,502.00. Following the completion of the sale, the vice president owned 1,244 shares of the company’s stock, valued at approximately $5,194,570.80. The trade was a 69.69% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP K. Michelle Borninkhof sold 300 shares of the stock in a transaction that occurred on Monday, October 27th. The stock was sold at an average price of $3,775.00, for a total value of $1,132,500.00. Following the transaction, the senior vice president directly owned 416 shares in the company, valued at approximately $1,570,400. This represents a 41.90% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 5,693 shares of company stock worth $23,259,891 over the last quarter. 2.60% of the stock is currently owned by insiders.

Institutional Trading of AutoZone

A number of hedge funds and other institutional investors have recently modified their holdings of AZO. Raleigh Capital Management Inc. bought a new position in AutoZone during the third quarter valued at approximately $26,000. AlphaCore Capital LLC bought a new stake in AutoZone during the 1st quarter worth approximately $27,000. Saudi Central Bank bought a new position in AutoZone in the 1st quarter worth approximately $27,000. Global Trust Asset Management LLC boosted its position in shares of AutoZone by 600.0% in the 3rd quarter. Global Trust Asset Management LLC now owns 7 shares of the company’s stock worth $30,000 after purchasing an additional 6 shares during the last quarter. Finally, Aspect Partners LLC lifted its stake in AutoZone by 700.0% in the second quarter. Aspect Partners LLC now owns 8 shares of the company’s stock valued at $30,000 after buying an additional 7 shares in the last quarter. Institutional investors own 92.74% of the company’s stock.

AutoZone Company Profile

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.