AutoZone (NYSE:AZO) VP Richard Craig Smith Sells 3,190 Shares of Stock

AutoZone, Inc. (NYSE:AZO) VP Richard Craig Smith sold 3,190 shares of the stock in a transaction that occurred on Friday, January 16th. The stock was sold at an average price of $3,500.00, for a total transaction of $11,165,000.00. Following the transaction, the vice president owned 2,627 shares in the company, valued at approximately $9,194,500. The trade was a 54.84% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

AutoZone Trading Up 1.5%

NYSE AZO opened at $3,573.61 on Wednesday. The company has a market cap of $59.21 billion, a price-to-earnings ratio of 24.92, a PEG ratio of 1.68 and a beta of 0.42. The company has a 50 day moving average of $3,593.83 and a 200-day moving average of $3,850.66. AutoZone, Inc. has a 1-year low of $3,205.23 and a 1-year high of $4,388.11.

AutoZone (NYSE:AZO) last issued its quarterly earnings results on Tuesday, December 9th. The company reported $31.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $32.69 by ($1.65). The company had revenue of $4.63 billion for the quarter, compared to analyst estimates of $4.64 billion. AutoZone had a negative return on equity of 65.38% and a net margin of 12.78%.The company’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same period in the prior year, the company earned $32.52 EPS. On average, equities research analysts forecast that AutoZone, Inc. will post 152.94 earnings per share for the current year.

AutoZone declared that its Board of Directors has approved a share buyback program on Wednesday, October 8th that authorizes the company to repurchase $0.00 in outstanding shares. This repurchase authorization authorizes the company to buy shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on AZO shares. Citigroup reduced their price objective on shares of AutoZone from $4,775.00 to $4,200.00 and set a “buy” rating on the stock in a research note on Thursday, December 11th. DA Davidson reduced their price target on shares of AutoZone from $4,850.00 to $4,500.00 and set a “buy” rating on the stock in a research report on Wednesday, December 10th. TD Cowen decreased their price objective on shares of AutoZone from $4,900.00 to $4,400.00 and set a “buy” rating on the stock in a research note on Wednesday, December 10th. JPMorgan Chase & Co. lowered their price objective on shares of AutoZone from $4,850.00 to $4,100.00 and set an “overweight” rating for the company in a research report on Thursday, December 18th. Finally, Barclays set a $3,880.00 target price on AutoZone in a research note on Thursday, January 8th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $4,264.12.

Institutional Investors Weigh In On AutoZone

A number of hedge funds and other institutional investors have recently bought and sold shares of AZO. Turning Point Benefit Group Inc. acquired a new stake in shares of AutoZone during the third quarter valued at about $25,000. Raleigh Capital Management Inc. bought a new position in AutoZone in the 3rd quarter valued at approximately $26,000. Aspect Partners LLC boosted its position in AutoZone by 700.0% during the 2nd quarter. Aspect Partners LLC now owns 8 shares of the company’s stock worth $30,000 after buying an additional 7 shares during the period. Global Trust Asset Management LLC grew its holdings in AutoZone by 600.0% during the 3rd quarter. Global Trust Asset Management LLC now owns 7 shares of the company’s stock worth $30,000 after acquiring an additional 6 shares during the last quarter. Finally, Bank of Jackson Hole Trust acquired a new position in AutoZone in the 2nd quarter valued at approximately $33,000. Institutional investors own 92.74% of the company’s stock.

About AutoZone

AutoZone, Inc (NYSE: AZO) is a retailer and distributor of automotive replacement parts and accessories. Headquartered in Memphis, Tennessee, the company supplies a wide range of aftermarket components, maintenance items and accessories for passenger cars, light trucks and commercial vehicles. Its product assortment includes engine parts, electrical components, batteries, brakes, filters, fluids and interior and exterior accessories, supported by inventory management and logistics systems to serve retail customers and professional service providers.

AutoZone serves both do‑it‑yourself (DIY) consumers and commercial customers such as independent repair shops and service centers.