Traders Buy Shares of AutoZone, Inc. (AZO) on Weakness

Investors purchased shares of AutoZone, Inc. (NYSE:AZO) on weakness during trading hours on Tuesday. $97.18 million flowed into the stock on the tick-up and $81.63 million flowed out of the stock on the tick-down, for a money net flow of $15.55 million into the stock. Of all companies tracked, AutoZone had the 21st highest net in-flow for the day. AutoZone traded down ($2.25) for the day and closed at $632.40

Several equities research analysts recently commented on the stock. Zacks Investment Research downgraded shares of AutoZone from a “hold” rating to a “sell” rating in a research report on Tuesday. Robert W. Baird restated a “hold” rating and issued a $590.00 price target on shares of AutoZone in a research report on Friday, October 27th. Credit Suisse Group set a $640.00 price target on shares of AutoZone and gave the company a “buy” rating in a research report on Wednesday, November 1st. Oppenheimer Holdings, Inc. restated a “buy” rating on shares of AutoZone in a research report on Thursday, September 21st. Finally, Stephens restated a “hold” rating and issued a $550.00 price target (down previously from $620.00) on shares of AutoZone in a research report on Thursday, September 21st. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $724.45.

The stock has a market capitalization of $17,390.00, a price-to-earnings ratio of 14.29, a price-to-earnings-growth ratio of 1.16 and a beta of 0.65. The company has a debt-to-equity ratio of -3.56, a quick ratio of 0.15 and a current ratio of 0.97.

AutoZone (NYSE:AZO) last released its quarterly earnings results on Tuesday, September 19th. The company reported $15.18 earnings per share for the quarter, beating analysts’ consensus estimates of $15.11 by $0.07. AutoZone had a net margin of 11.76% and a negative return on equity of 74.48%. The business had revenue of $3.51 billion for the quarter, compared to the consensus estimate of $3.49 billion. During the same quarter last year, the firm earned $14.30 EPS. AutoZone’s revenue for the quarter was up 3.3% on a year-over-year basis. equities analysts expect that AutoZone, Inc. will post 46.78 earnings per share for the current year.

In related news, Director William Andrew Mckenna sold 3,000 shares of the firm’s stock in a transaction on Thursday, September 28th. The shares were sold at an average price of $584.96, for a total value of $1,754,880.00. Following the transaction, the director now directly owns 8,131 shares in the company, valued at approximately $4,756,309.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.80% of the company’s stock.

Large investors have recently bought and sold shares of the stock. Fieldpoint Private Securities LLC acquired a new position in AutoZone in the 2nd quarter valued at $114,000. Salem Investment Counselors Inc. grew its position in AutoZone by 3.5% in the 2nd quarter. Salem Investment Counselors Inc. now owns 264 shares of the company’s stock worth $151,000 after purchasing an additional 9 shares during the last quarter. Fuller & Thaler Asset Management Inc. acquired a new stake in AutoZone in the 3rd quarter worth $179,000. Global X Management Co. LLC grew its position in AutoZone by 12.9% in the 2nd quarter. Global X Management Co. LLC now owns 323 shares of the company’s stock worth $184,000 after purchasing an additional 37 shares during the last quarter. Finally, Jarislowsky Fraser Ltd acquired a new stake in AutoZone in the 3rd quarter worth $202,000. Institutional investors and hedge funds own 98.66% 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.

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