AutoZone (AZO) Reaches New 52-Week High at $922.28

AutoZone, Inc. (NYSE:AZO) reached a new 52-week high on Monday . The company traded as high as $922.28 and last traded at $919.75, with a volume of 293014 shares changing hands. The stock had previously closed at $904.96.

Several research analysts have issued reports on AZO shares. Zacks Investment Research upgraded shares of AutoZone from a “hold” rating to a “buy” rating and set a $976.00 price target for the company in a report on Monday, December 17th. Morgan Stanley raised their price target on shares of AutoZone from $870.00 to $900.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 23rd. Wedbush set a $870.00 price target on shares of AutoZone and gave the stock a “buy” rating in a report on Wednesday, November 21st. Credit Suisse Group lifted their price objective on shares of AutoZone from $854.00 to $930.00 and gave the company an “outperform” rating in a research note on Thursday, December 6th. Finally, Wells Fargo & Co reiterated a “buy” rating and issued a $970.00 price objective on shares of AutoZone in a research note on Tuesday, December 4th. Six analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $882.51.

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The company has a market cap of $23.18 billion, a PE ratio of 18.27, a P/E/G ratio of 1.24 and a beta of 0.68.

AutoZone (NYSE:AZO) last issued its quarterly earnings results on Tuesday, December 4th. The company reported $13.47 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $12.21 by $1.26. The company had revenue of $2.64 billion during the quarter, compared to the consensus estimate of $2.64 billion. AutoZone had a negative return on equity of 102.31% and a net margin of 12.49%. AutoZone’s revenue was up 2.0% on a year-over-year basis. During the same period in the previous year, the firm posted $10.00 EPS. On average, equities analysts forecast that AutoZone, Inc. will post 59.67 EPS for the current year.

In other AutoZone news, insider Ronald B. Griffin sold 21,000 shares of the company’s stock in a transaction on Monday, December 17th. The shares were sold at an average price of $844.93, for a total transaction of $17,743,530.00. Following the sale, the insider now directly owns 21,377 shares of the company’s stock, valued at $18,062,068.61. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP William T. Giles sold 13,500 shares of the company’s stock in a transaction on Thursday, December 6th. The stock was sold at an average price of $870.11, for a total transaction of $11,746,485.00. Following the sale, the vice president now directly owns 13,119 shares in the company, valued at $11,414,973.09. The disclosure for this sale can be found here. Over the last three months, insiders have sold 46,790 shares of company stock valued at $40,211,001. 2.80% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Polianta Ltd purchased a new position in AutoZone during the 4th quarter worth $1,173,000. State Treasurer State of Michigan boosted its stake in AutoZone by 413.3% in the 4th quarter. State Treasurer State of Michigan now owns 40,364 shares of the company’s stock worth $33,839,000 after purchasing an additional 32,500 shares during the period. IFM Investors Pty Ltd boosted its stake in AutoZone by 13.3% in the 3rd quarter. IFM Investors Pty Ltd now owns 1,446 shares of the company’s stock worth $1,122,000 after purchasing an additional 170 shares during the period. Nippon Life Global Investors Americas Inc. acquired a new position in AutoZone in the 4th quarter worth approximately $2,691,000. Finally, Los Angeles Capital Management & Equity Research Inc. boosted its stake in AutoZone by 353.8% in the 3rd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 6,362 shares of the company’s stock worth $4,935,000 after purchasing an additional 4,960 shares during the period. 88.94% of the stock is currently owned by hedge funds and other institutional investors.

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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, carburetors, chassis, clutches, CV axles, engines, fuel pumps, fuses, ignition and lighting products, mufflers, radiators, starters and alternators, thermostats, and water pumps.

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