AutoZone’s (AZO) Buy Rating Reiterated at Oppenheimer Holdings, Inc.

Oppenheimer Holdings, Inc. reiterated their buy rating on shares of AutoZone, Inc. (NYSE:AZO) in a report published on Thursday.

AZO has been the topic of a number of other reports. Deutsche Bank AG restated a hold rating and issued a $550.00 price objective (down from $650.00) on shares of AutoZone in a research note on Friday, July 21st. Wedbush restated a neutral rating on shares of AutoZone in a research note on Thursday, July 6th. BidaskClub upgraded AutoZone from a strong sell rating to a sell rating in a research note on Monday, July 31st. BTIG Research restated a buy rating and issued a $825.00 price objective on shares of AutoZone in a research note on Wednesday, May 24th. Finally, Zacks Investment Research upgraded AutoZone from a sell rating to a hold rating in a research note on Wednesday, August 23rd. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. AutoZone has an average rating of Hold and a consensus price target of $747.27.

AutoZone (AZO) opened at 574.03 on Thursday. The firm has a market capitalization of $15.98 billion, a P/E ratio of 13.03 and a beta of 0.62. The company has a 50 day moving average of $534.42 and a 200 day moving average of $611.55. AutoZone has a 1-year low of $491.13 and a 1-year high of $813.70.

AutoZone (NYSE:AZO) last released its earnings results on Tuesday, September 19th. The company reported $15.18 EPS for the quarter, topping the Zacks’ consensus estimate of $15.11 by $0.07. AutoZone had a negative return on equity of 74.48% and a net margin of 11.76%. The company had revenue of $3.51 billion for the quarter, compared to analysts’ expectations of $3.49 billion. During the same period in the previous year, the business posted $14.30 EPS. The business’s revenue for the quarter was up 3.3% compared to the same quarter last year. On average, equities research analysts anticipate that AutoZone will post $47.03 earnings per share for the current year.

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In other news, VP William T. Giles sold 10,000 shares of the business’s stock in a transaction dated Tuesday, June 27th. The stock was sold at an average price of $581.10, for a total transaction of $5,811,000.00. Following the completion of the transaction, the vice president now owns 18,500 shares of the company’s stock, valued at $10,750,350. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director William Andrew Mckenna acquired 300 shares of the business’s stock in a transaction dated Thursday, July 13th. The shares were acquired at an average cost of $507.00 per share, with a total value of $152,100.00. Following the acquisition, the director now directly owns 5,131 shares of the company’s stock, valued at approximately $2,601,417. The disclosure for this purchase can be found here. 2.60% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently modified their holdings of the company. American Beacon Advisors Inc. purchased a new position in shares of AutoZone during the first quarter worth about $104,000. Fieldpoint Private Securities LLC purchased a new position in shares of AutoZone during the second quarter worth about $114,000. Alpha Windward LLC grew its holdings in shares of AutoZone by 3.2% during the second quarter. Alpha Windward LLC now owns 259 shares of the company’s stock worth $148,000 after purchasing an additional 8 shares in the last quarter. Salem Investment Counselors Inc. grew its holdings in shares of AutoZone by 3.5% during the second quarter. Salem Investment Counselors Inc. now owns 264 shares of the company’s stock worth $151,000 after purchasing an additional 9 shares in the last quarter. Finally, Colony Group LLC purchased a new position in shares of AutoZone during the first quarter worth about $205,000. 96.08% of the stock is owned by institutional investors.

AutoZone Company Profile

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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