AutoZone (NYSE:AZO) Upgraded at Baird R W

Baird R W upgraded shares of AutoZone (NYSE:AZO) to a strong-buy rating in a research note released on Thursday,Zacks.com reports.

Several other equities analysts have also recently issued reports on AZO. Guggenheim boosted their price objective on shares of AutoZone from $4,100.00 to $4,600.00 and gave the company a “buy” rating in a research note on Wednesday, September 24th. Roth Capital reaffirmed a “buy” rating and issued a $4,750.00 target price (down previously from $4,800.00) on shares of AutoZone in a report on Thursday, September 25th. The Goldman Sachs Group upgraded shares of AutoZone from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $4,090.00 to $4,262.00 in a research note on Thursday, November 13th. DA Davidson set a $4,850.00 price target on shares of AutoZone in a report on Thursday, November 6th. Finally, Wells Fargo & Company lowered their price objective on AutoZone from $4,800.00 to $4,700.00 and set an “overweight” rating on the stock in a report on Wednesday, September 24th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $4,545.73.

AutoZone Trading Down 0.5%

AutoZone stock opened at $3,820.69 on Thursday. The stock has a 50 day moving average of $3,912.07 and a two-hundred day moving average of $3,905.14. AutoZone has a twelve month low of $3,162.00 and a twelve month high of $4,388.11. The stock has a market capitalization of $63.55 billion, a price-to-earnings ratio of 26.37, a PEG ratio of 1.83 and a beta of 0.40.

AutoZone (NYSE:AZO) last released its earnings results on Tuesday, September 23rd. The company reported $48.71 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 analyst estimates of $6.26 billion. During the same period in the previous year, the firm posted $51.58 EPS. The company’s revenue for the quarter was up .6% on a year-over-year basis. Equities analysts predict that AutoZone will post 152.94 earnings per share for the current year.

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

Insider Transactions at AutoZone

In related news, CEO Philip B. Daniele sold 2,533 shares of AutoZone stock in a transaction on Friday, October 17th. The stock was sold at an average price of $4,020.88, for a total transaction of $10,184,889.04. Following the completion of the transaction, the chief executive officer directly owned 55 shares of the company’s stock, valued at approximately $221,148.40. The trade was a 97.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP John Scott Murphy sold 2,860 shares of the business’s stock in a transaction on Wednesday, September 24th. The stock was sold at an average price of $4,175.70, for a total value of $11,942,502.00. Following the sale, the vice president owned 1,244 shares in the company, valued at approximately $5,194,570.80. The trade was a 69.69% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 5,693 shares of company stock valued at $23,259,891 in the last quarter. 2.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On AutoZone

Institutional investors and hedge funds have recently made changes to their positions in the business. Turning Point Benefit Group Inc. bought a new position in AutoZone in the 3rd quarter valued at about $25,000. Raleigh Capital Management Inc. bought a new stake in shares of AutoZone during the 3rd quarter worth about $26,000. AlphaCore Capital LLC acquired a new stake in shares of AutoZone in the 1st quarter worth approximately $27,000. Saudi Central Bank bought a new position in shares of AutoZone in the first quarter valued at approximately $27,000. Finally, Aspect Partners LLC boosted its holdings in shares of 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 acquiring an additional 7 shares in the last quarter. 92.74% of the stock is currently owned by hedge funds and other institutional investors.

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.