Barclays Boosts AutoZone (NYSE:AZO) Price Target to $800.00

AutoZone (NYSE:AZO) had its price objective raised by Barclays from $710.00 to $800.00 in a report published on Thursday, December 7th.

Other analysts have also recently issued reports about the company. Wedbush restated a hold rating and issued a $580.00 price objective (down from $590.00) on shares of AutoZone in a research report on Wednesday, September 20th. Citigroup reiterated a buy rating and set a $700.00 price target on shares of AutoZone in a research report on Wednesday, September 20th. UBS Group reiterated a buy rating and set a $655.00 price target (down from $725.00) on shares of AutoZone in a research report on Wednesday, September 20th. Jefferies Group reiterated a hold rating and set a $720.00 price target on shares of AutoZone in a research report on Wednesday, December 6th. Finally, Credit Suisse Group reissued a buy rating and set a $583.00 price objective on shares of AutoZone in a research note 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 given a buy rating to the stock. The company has a consensus rating of Hold and an average target price of $717.24.

AutoZone (NYSE:AZO) traded up $25.17 during trading on Thursday, hitting $736.54. The company had a trading volume of 558,705 shares, compared to its average volume of 423,850. AutoZone has a 12-month low of $491.13 and a 12-month high of $802.15. The firm has a market capitalization of $20,150.00, a P/E ratio of 16.40, a price-to-earnings-growth ratio of 1.31 and a beta of 0.71. 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, beating the Zacks’ consensus estimate of $9.90 by $0.10. The company 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 for the quarter was up 4.9% on a year-over-year basis. During the same period in the previous year, the company posted $9.36 earnings per share. analysts expect that AutoZone will post 46.73 EPS for the current fiscal year.

In other 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 value of $7,000,000.00. Following the transaction, the vice president now owns 14,377 shares in the company, valued at approximately $10,063,900. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Albert Saltiel sold 2,150 shares of the stock in a transaction dated Thursday, December 21st. The shares were sold at an average price of $703.09, for a total value of $1,511,643.50. Following the completion of the transaction, the insider now owns 2,276 shares in the company, valued at approximately $1,600,232.84. The disclosure for this sale can be found here. In the last quarter, insiders sold 79,973 shares of company stock worth $56,444,486. Company insiders own 2.80% of the company’s stock.

Large investors have recently added to or reduced their stakes in the stock. Fieldpoint Private Securities LLC purchased a new position in AutoZone during the 2nd quarter worth approximately $114,000. Salem Investment Counselors Inc. lifted its position in 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. acquired a new stake in AutoZone during the 3rd quarter worth approximately $179,000. Global X Management Co. LLC lifted its position in 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 acquired a new stake in AutoZone during the 3rd quarter worth approximately $202,000. Hedge funds and other institutional investors own 99.35% of the company’s stock.

ILLEGAL ACTIVITY WARNING: This piece of content was published by TrueBlueTribune and is the sole property of of TrueBlueTribune. If you are accessing this piece of content on another site, it was illegally copied and reposted in violation of US & international copyright & trademark laws. The correct version of this piece of content can be viewed at https://www.truebluetribune.com/2018/01/03/autozone-azo-pt-raised-to-800-00-2.html.

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)

Receive News & Ratings for AutoZone Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AutoZone and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply