Shares of AutoZone (NYSE:AZO) have earned a consensus rating of “Hold” from the twenty-five research firms that are covering the stock, MarketBeat reports. Two analysts have rated the stock with a sell recommendation, ten have assigned a hold recommendation and ten have issued a buy recommendation on the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $757.80.
A number of analysts recently issued reports on AZO shares. Wedbush raised shares of AutoZone from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $670.00 to $750.00 in a report on Thursday, April 5th. Argus increased their price target on shares of AutoZone from $675.00 to $875.00 and gave the stock a “buy” rating in a report on Friday, February 2nd. Stephens set a $840.00 price target on shares of AutoZone and gave the stock a “hold” rating in a report on Tuesday, January 16th. Citigroup lowered their price target on shares of AutoZone from $820.00 to $790.00 and set a “buy” rating on the stock in a report on Thursday, March 1st. Finally, Guggenheim reissued a “neutral” rating on shares of AutoZone in a report on Tuesday.
Shares of AZO stock traded up $0.79 during trading hours on Thursday, hitting $605.15. The company’s stock had a trading volume of 162,879 shares, compared to its average volume of 432,608. The company has a market capitalization of $16,536.72, a P/E ratio of 14.05, a price-to-earnings-growth ratio of 0.98 and a beta of 0.84. The company has a debt-to-equity ratio of -3.79, a current ratio of 0.98 and a quick ratio of 0.15. AutoZone has a 12-month low of $491.13 and a 12-month high of $797.89.
AutoZone declared that its board has authorized a share buyback program on Tuesday, March 20th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the company to purchase shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its stock is undervalued.
In other news, insider James C. Griffith sold 1,250 shares of the stock in a transaction dated Friday, January 19th. The shares were sold at an average price of $794.70, for a total value of $993,375.00. Following the completion of the sale, the insider now directly owns 1,353 shares in the company, valued at $1,075,229.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.80% of the stock is owned by corporate insiders.
Institutional investors have recently added to or reduced their stakes in the stock. Reliance Trust Co. of Delaware boosted its stake in AutoZone by 14.4% during the fourth quarter. Reliance Trust Co. of Delaware now owns 588 shares of the company’s stock worth $418,000 after buying an additional 74 shares during the period. Pinebridge Investments L.P. boosted its stake in AutoZone by 13.5% during the fourth quarter. Pinebridge Investments L.P. now owns 656 shares of the company’s stock worth $467,000 after buying an additional 78 shares during the period. Bbva Compass Bancshares Inc. boosted its stake in AutoZone by 22.5% during the fourth quarter. Bbva Compass Bancshares Inc. now owns 469 shares of the company’s stock worth $334,000 after buying an additional 86 shares during the period. Osborne Partners Capital Management LLC boosted its stake in AutoZone by 1.3% during the fourth quarter. Osborne Partners Capital Management LLC now owns 7,170 shares of the company’s stock worth $5,101,000 after buying an additional 90 shares during the period. Finally, CWM LLC boosted its stake in AutoZone by 41.8% during the fourth quarter. CWM LLC now owns 312 shares of the company’s stock worth $222,000 after buying an additional 92 shares during the period. Hedge funds and other institutional investors own 95.86% of the company’s stock.
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AutoZone, Inc retails and distributes automotive replacement parts and accessories. It offers various products for cars, sport utility vehicles, vans, and light trucks, including new and remanufactured automotive hard parts, maintenance items, accessories, and non-automotive products. The company's products include A/C compressors, batteries and accessories, bearings, belts and hoses, calipers, carburetors, chassis, clutches, CV axles, engines, fuel pumps, fuses, ignition and lighting products, mufflers, radiators, thermostats, starters and alternators, and water pumps.
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