Royal Bank of Canada Boosts AutoZone (NYSE:AZO) Price Target to $0.00

AutoZone (NYSE:AZO) had its target price increased by Royal Bank of Canada in a report published on Wednesday, December 6th. Royal Bank of Canada currently has a sector perform rating on the stock.

A number of other research analysts have also commented on the company. Credit Suisse Group set a $640.00 target price on AutoZone and gave the company a buy rating in a research note on Wednesday, November 1st. Bank of America reiterated a buy rating and issued a $625.00 price target on shares of AutoZone in a research report on Tuesday, September 5th. Citigroup reiterated a buy rating and issued a $700.00 price target on shares of AutoZone in a research report on Wednesday, September 20th. Zacks Investment Research cut AutoZone from a hold rating to a sell rating in a research report on Tuesday, November 21st. Finally, UBS Group restated a buy rating and set a $655.00 target price (down previously from $725.00) on shares of AutoZone in a report on Wednesday, September 20th. Three equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and nine have issued a buy rating to the stock. AutoZone currently has a consensus rating of Hold and an average price target of $717.24.

Shares of AutoZone (NYSE:AZO) traded down $7.01 during midday trading on Wednesday, hitting $711.37. The company had a trading volume of 289,095 shares, compared to its average volume of 469,587. AutoZone has a 1-year low of $491.13 and a 1-year high of $802.15. The company has a market cap of $19,649.86, a PE ratio of 15.88, a price-to-earnings-growth ratio of 1.32 and a beta of 0.72. The company has a current ratio of 0.93, a quick ratio of 0.14 and a debt-to-equity ratio of -3.27.

AutoZone (NYSE:AZO) last issued its quarterly earnings results on Tuesday, December 5th. The company reported $10.00 EPS for the quarter, topping analysts’ consensus estimates of $9.90 by $0.10. The company had revenue of $2.59 billion during the quarter, compared to analyst estimates of $2.54 billion. AutoZone had a negative return on equity of 78.83% and a net margin of 11.66%. The company’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same period in the previous year, the company earned $9.36 earnings per share. analysts predict that AutoZone will post 46.73 EPS for the current fiscal year.

In related news, VP Charles Pleas III sold 10,000 shares of the stock in a transaction dated Thursday, December 7th. The stock was sold at an average price of $700.00, for a total transaction of $7,000,000.00. Following the completion of the transaction, the vice president now directly owns 14,377 shares in the company, valued at $10,063,900. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO William T. Giles sold 24,200 shares of the stock in a transaction dated Friday, December 8th. The stock was sold at an average price of $710.79, for a total value of $17,201,118.00. Following the transaction, the chief financial officer now owns 24,466 shares of the company’s stock, valued at $17,390,188.14. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 79,973 shares of company stock valued at $56,444,486. 2.60% of the stock is owned by corporate insiders.

Hedge funds have recently bought and sold shares of the business. Fieldpoint Private Securities LLC bought a new position in AutoZone in the second quarter valued at approximately $114,000. Salem Investment Counselors Inc. boosted its stake in shares of AutoZone by 3.5% during the 2nd quarter. Salem Investment Counselors Inc. now owns 264 shares of the company’s stock worth $151,000 after acquiring an additional 9 shares during the period. Fuller & Thaler Asset Management Inc. bought a new position in shares of AutoZone during the 3rd quarter worth approximately $179,000. Global X Management Co. LLC boosted its stake in shares of AutoZone by 12.9% during the 2nd quarter. Global X Management Co. LLC now owns 323 shares of the company’s stock worth $184,000 after acquiring an additional 37 shares during the period. Finally, Jarislowsky Fraser Ltd bought a new position in shares of AutoZone during the 3rd quarter worth approximately $202,000. 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.

Analyst Recommendations for AutoZone (NYSE:AZO)

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