AutoZone (NYSE:AZO) Receives “Buy” Rating from UBS Group

UBS Group reaffirmed their buy rating on shares of AutoZone (NYSE:AZO) in a research note issued to investors on Wednesday, December 6th, The Fly reports. The brokerage currently has a $750.00 price target on the stock, down from their prior price target of $810.00.

AZO has been the subject of several other research reports. Guggenheim downgraded AutoZone from a buy rating to a neutral rating in a research note on Wednesday, December 6th. Citigroup increased their price target on AutoZone to $820.00 and gave the stock a buy rating in a research note on Wednesday, December 6th. Moffett Nathanson began coverage on AutoZone in a report on Monday, December 4th. They set a neutral rating on the stock. Raymond James Financial reissued a hold rating on shares of AutoZone in a report on Saturday, December 2nd. Finally, Zacks Investment Research cut AutoZone from a hold rating to a sell rating in a report on Tuesday, November 21st. Three analysts have rated the stock with a sell rating, twelve have assigned a hold rating and nine have assigned a buy rating to the company’s stock. AutoZone currently has an average rating of Hold and a consensus target price of $717.24.

Shares of AutoZone (NYSE AZO) traded down $7.01 during trading hours on Wednesday, hitting $711.37. The stock had a trading volume of 289,095 shares, compared to its average volume of 469,587. AutoZone has a one year low of $491.13 and a one year high of $802.15. The firm has a market capitalization of $19,649.86, a price-to-earnings ratio of 15.88, a price-to-earnings-growth ratio of 1.32 and a beta of 0.72. The company has a debt-to-equity ratio of -3.27, a current ratio of 0.93 and a quick ratio of 0.14.

AutoZone (NYSE:AZO) last announced its quarterly earnings results on Tuesday, December 5th. The company reported $10.00 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $9.90 by $0.10. The business had revenue of $2.59 billion during 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%. AutoZone’s revenue was up 4.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $9.36 earnings per share. research analysts anticipate that AutoZone will post 46.73 EPS for the current year.

In other AutoZone news, insider Albert Saltiel sold 2,150 shares of AutoZone stock in a transaction on Thursday, December 21st. The stock was sold at an average price of $703.09, for a total transaction of $1,511,643.50. Following the completion of the transaction, the insider now owns 2,276 shares in the company, valued at $1,600,232.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Mark A. Finestone sold 13,500 shares of AutoZone stock in a transaction on Friday, December 8th. The shares were sold at an average price of $711.37, for a total value of $9,603,495.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 79,973 shares of company stock valued at $56,444,486. 2.60% of the stock is currently owned by company insiders.

Several hedge funds have recently bought and sold shares of AZO. Vanguard Group Inc. grew its holdings in shares of AutoZone by 1.7% in the second quarter. Vanguard Group Inc. now owns 1,899,758 shares of the company’s stock worth $1,083,735,000 after acquiring an additional 32,542 shares during the period. FMR LLC grew its holdings in shares of AutoZone by 6.7% in the second quarter. FMR LLC now owns 1,864,473 shares of the company’s stock worth $1,063,608,000 after acquiring an additional 117,019 shares during the period. State Street Corp grew its holdings in shares of AutoZone by 5.1% in the second quarter. State Street Corp now owns 1,363,261 shares of the company’s stock worth $777,679,000 after acquiring an additional 66,734 shares during the period. JPMorgan Chase & Co. grew its holdings in shares of AutoZone by 27.8% in the third quarter. JPMorgan Chase & Co. now owns 1,301,355 shares of the company’s stock worth $764,272,000 after acquiring an additional 282,939 shares during the period. Finally, Nordea Investment Management AB grew its holdings in shares of AutoZone by 4.4% in the third quarter. Nordea Investment Management AB now owns 1,072,553 shares of the company’s stock worth $638,287,000 after acquiring an additional 45,458 shares during the period. Hedge funds and other institutional investors own 99.35% of the company’s stock.

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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.

The Fly

Analyst Recommendations for AutoZone (NYSE:AZO)

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