AutoZone, Inc. (NYSE:AZO – Get Rating) Director George R. Mrkonic, Jr. sold 138 shares of the firm’s stock in a transaction that occurred on Thursday, January 5th. The stock was sold at an average price of $2,441.21, for a total transaction of $336,886.98. Following the transaction, the director now directly owns 3,764 shares of the company’s stock, valued at $9,188,714.44. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.
AutoZone Stock Up 2.9 %
Shares of AutoZone stock traded up $70.07 during mid-day trading on Friday, reaching $2,486.64. 150,269 shares of the stock traded hands, compared to its average volume of 140,542. The business has a 50-day moving average of $2,468.07 and a 200 day moving average of $2,289.02. The stock has a market capitalization of $46.66 billion, a PE ratio of 20.87, a PEG ratio of 1.73 and a beta of 0.76. AutoZone, Inc. has a fifty-two week low of $1,703.32 and a fifty-two week high of $2,610.05.
AutoZone (NYSE:AZO – Get Rating) last posted its quarterly earnings data on Tuesday, December 6th. The company reported $27.45 EPS for the quarter, beating the consensus estimate of $24.82 by $2.63. AutoZone had a negative return on equity of 69.45% and a net margin of 14.57%. The firm had revenue of $3.99 billion during the quarter, compared to the consensus estimate of $3.87 billion. During the same period in the prior year, the company earned $25.69 EPS. The firm’s revenue was up 8.6% compared to the same quarter last year. On average, equities research analysts expect that AutoZone, Inc. will post 124.96 EPS for the current fiscal year.
Hedge Funds Weigh In On AutoZone
A number of institutional investors and hedge funds have recently bought and sold shares of AZO. Beacon Pointe Advisors LLC grew its position in shares of AutoZone by 15.3% in the second quarter. Beacon Pointe Advisors LLC now owns 219 shares of the company’s stock valued at $467,000 after purchasing an additional 29 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of AutoZone by 184.2% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,961 shares of the company’s stock worth $4,214,000 after acquiring an additional 1,271 shares during the last quarter. Wedbush Securities Inc. raised its holdings in shares of AutoZone by 184.8% during the 3rd quarter. Wedbush Securities Inc. now owns 467 shares of the company’s stock worth $1,000,000 after acquiring an additional 303 shares during the period. Gradient Investments LLC boosted its position in shares of AutoZone by 22.2% during the 2nd quarter. Gradient Investments LLC now owns 88 shares of the company’s stock valued at $189,000 after acquiring an additional 16 shares during the last quarter. Finally, Bridgewater Associates LP purchased a new stake in shares of AutoZone in the second quarter valued at about $6,316,000. 91.12% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several research analysts recently issued reports on AZO shares. The Goldman Sachs Group reissued a “buy” rating and set a $2,334.00 target price on shares of AutoZone in a report on Wednesday, September 21st. Truist Financial upped their target price on AutoZone from $2,792.00 to $2,800.00 and gave the stock a “buy” rating in a research note on Wednesday, December 7th. Wedbush boosted their price target on AutoZone from $2,350.00 to $2,600.00 in a report on Monday, November 28th. Wells Fargo & Company upped their price objective on AutoZone from $2,450.00 to $2,850.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 29th. Finally, Citigroup lifted their target price on shares of AutoZone from $2,520.00 to $2,782.00 in a report on Wednesday, December 7th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $2,568.40.
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, as well as tire repairs.
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