AutoZone, Inc. (NYSE:AZO) hit a new 52-week high on Monday . The company traded as high as $1,446.76 and last traded at $1,446.76, with a volume of 5060 shares. The stock had previously closed at $1,438.50.
AZO has been the subject of a number of recent research reports. Oppenheimer reissued a “buy” rating and set a $1,500.00 price target on shares of AutoZone in a research note on Wednesday, March 3rd. Citigroup initiated coverage on shares of AutoZone in a research note on Monday, March 15th. They set a “buy” rating and a $1,424.00 price target for the company. Stephens boosted their price target on shares of AutoZone from $1,350.00 to $1,500.00 and gave the stock an “overweight” rating in a research note on Friday, March 26th. Wells Fargo & Company boosted their price target on shares of AutoZone from $1,500.00 to $1,600.00 and gave the stock an “overweight” rating in a research note on Monday, March 29th. They noted that the move was a valuation call. Finally, Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell initiated coverage on shares of AutoZone in a research note on Monday, March 15th. They set a “buy” rating and a $1,424.00 price target for the company. Three equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and two have assigned a strong buy rating to the stock. AutoZone currently has an average rating of “Buy” and a consensus price target of $1,383.04.
The company has a market cap of $31.93 billion, a price-to-earnings ratio of 18.91, a PEG ratio of 2.95 and a beta of 0.83. The company’s fifty day moving average price is $1,293.02 and its two-hundred day moving average price is $1,203.30.
AutoZone (NYSE:AZO) last released its quarterly earnings results on Monday, March 1st. The company reported $14.93 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $12.84 by $2.09. The company had revenue of $2.91 billion during the quarter, compared to analysts’ expectations of $2.64 billion. AutoZone had a net margin of 14.05% and a negative return on equity of 139.08%. The business’s quarterly revenue was up 15.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $12.39 earnings per share. Equities analysts predict that AutoZone, Inc. will post 75 EPS for the current year.
In related news, VP Albert Saltiel sold 3,200 shares of the stock in a transaction on Wednesday, March 24th. The shares were sold at an average price of $1,345.65, for a total transaction of $4,306,080.00. Following the completion of the transaction, the vice president now owns 3,389 shares in the company, valued at $4,560,407.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Ronald B. Griffin sold 674 shares of the stock in a transaction on Thursday, January 21st. The stock was sold at an average price of $1,250.38, for a total transaction of $842,756.12. Following the transaction, the vice president now owns 1,156 shares of the company’s stock, valued at approximately $1,445,439.28. The disclosure for this sale can be found here. Insiders sold 28,347 shares of company stock valued at $35,962,493 in the last quarter. Corporate insiders own 2.80% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in AZO. Paces Ferry Wealth Advisors LLC acquired a new position in AutoZone during the third quarter worth $33,000. Key Financial Inc acquired a new stake in AutoZone in the fourth quarter valued at $40,000. Freedman Financial Associates Inc. acquired a new stake in AutoZone in the fourth quarter valued at $58,000. Vantage Consulting Group Inc acquired a new stake in AutoZone in the fourth quarter valued at $72,000. Finally, Kathmere Capital Management LLC acquired a new stake in AutoZone in the third quarter valued at $88,000. Institutional investors and hedge funds own 91.56% of the company’s stock.
About AutoZone (NYSE:AZO)
AutoZone, Inc retails and distributes automotive replacement parts and accessories. The company 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. Its products include A/C compressors, batteries and accessories, bearings, belts and hoses, calipers, chassis, clutches, CV axles, engines, fuel pumps, fuses, ignition and lighting products, mufflers, radiators, starters and alternators, thermostats, and water pumps.