AZO has been the subject of a number of research reports. Wedbush reaffirmed an “outperform” rating on shares of AutoZone in a research note on Tuesday, January 3rd. BTIG Research reaffirmed a “buy” rating and issued a $900.00 price objective on shares of AutoZone in a research note on Tuesday, January 24th. Credit Suisse Group AG set a $812.00 price objective on shares of AutoZone and gave the company a “buy” rating in a research note on Wednesday, March 1st. Cleveland Research cut shares of AutoZone from a “buy” rating to a “neutral” rating in a research note on Monday, April 3rd. Finally, Zacks Investment Research raised shares of AutoZone from a “hold” rating to a “buy” rating and set a $873.00 price objective for the company in a research note on Tuesday, January 17th. One analyst has rated the stock with a sell rating, ten have issued a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. AutoZone presently has an average rating of “Buy” and a consensus target price of $862.50.
AutoZone (NYSE:AZO) announced that its Board of Directors has initiated a share buyback plan, which allows the company to repurchase $750 million in shares on Tuesday, March 21st, EventVestor reports. This repurchase authorization allows the company to reacquire up to 3.6% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.
AutoZone (NYSE:AZO) opened at 688.46 on Monday. The firm has a 50-day moving average of $718.35 and a 200 day moving average of $751.97. AutoZone has a one year low of $688.46 and a one year high of $819.54. The company has a market capitalization of $19.56 billion, a price-to-earnings ratio of 16.15 and a beta of 0.58.
AutoZone (NYSE:AZO) last announced its quarterly earnings results on Tuesday, February 28th. The company reported $8.08 earnings per share for the quarter, missing the consensus estimate of $8.20 by $0.12. AutoZone had a negative return on equity of 69.22% and a net margin of 11.77%. The business earned $2.29 billion during the quarter, compared to the consensus estimate of $2.34 billion. During the same quarter in the prior year, the firm posted $7.43 EPS. The company’s revenue for the quarter was up 1.4% on a year-over-year basis. Equities research analysts predict that AutoZone will post $45.31 earnings per share for the current fiscal year.
In related news, Director Earl G. Graves, Jr. sold 1,000 shares of the business’s stock in a transaction on Thursday, March 16th. The shares were sold at an average price of $714.96, for a total value of $714,960.00. Following the sale, the director now owns 4,431 shares in the company, valued at $3,167,987.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Rodney C. Halsell sold 14,300 shares of the business’s stock in a transaction on Tuesday, March 21st. The stock was sold at an average price of $724.54, for a total transaction of $10,360,922.00. Following the completion of the sale, the insider now owns 3,966 shares in the company, valued at approximately $2,873,525.64. The disclosure for this sale can be found here. Insiders sold 27,300 shares of company stock worth $19,917,242 in the last 90 days. 2.60% of the stock is currently owned by company insiders.
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.