AutoZone (NYSE:AZO – Get Rating) is scheduled to issue its quarterly earnings data before the market opens on Monday, September 19th. Analysts expect the company to announce earnings of $38.31 per share for the quarter. Individual that wish to register for the company’s conference call can do so using this link.
AutoZone Price Performance
Shares of NYSE AZO opened at $2,199.08 on Monday. The stock has a market capitalization of $42.86 billion, a P/E ratio of 19.51, a P/E/G ratio of 1.57 and a beta of 0.78. AutoZone has a 1 year low of $1,540.98 and a 1 year high of $2,362.24. The company’s 50-day moving average is $2,191.35 and its 200 day moving average is $2,082.37.
Insiders Place Their Bets
In related news, VP Domingo Hurtado sold 395 shares of AutoZone stock in a transaction dated Friday, July 15th. The stock was sold at an average price of $2,217.53, for a total value of $875,924.35. Following the transaction, the vice president now owns 362 shares of the company’s stock, valued at approximately $802,745.86. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other AutoZone news, VP Domingo Hurtado sold 395 shares of AutoZone stock in a transaction dated Friday, July 15th. The stock was sold at an average price of $2,217.53, for a total transaction of $875,924.35. Following the transaction, the vice president now owns 362 shares of the company’s stock, valued at approximately $802,745.86. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO William C. Rhodes III sold 2,958 shares of AutoZone stock in a transaction dated Monday, July 18th. The shares were sold at an average price of $2,206.33, for a total value of $6,526,324.14. Following the transaction, the chief executive officer now directly owns 15,935 shares in the company, valued at approximately $35,157,868.55. The disclosure for this sale can be found here. 2.60% of the stock is owned by company insiders.
Institutional Investors Weigh In On AutoZone
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Several institutional investors and hedge funds have recently added to or reduced their stakes in AZO. Fairfield Bush & CO. bought a new stake in shares of AutoZone during the first quarter valued at approximately $57,000. Zions Bancorporation N.A. increased its holdings in shares of AutoZone by 76.2% in the first quarter. Zions Bancorporation N.A. now owns 37 shares of the company’s stock worth $76,000 after acquiring an additional 16 shares in the last quarter. SVB Wealth LLC bought a new position in shares of AutoZone during the second quarter worth about $207,000. Penserra Capital Management LLC grew its stake in AutoZone by 7.4% in the first quarter. Penserra Capital Management LLC now owns 102 shares of the company’s stock valued at $208,000 after purchasing an additional 7 shares in the last quarter. Finally, Echo Street Capital Management LLC lifted its position in shares of AutoZone by 9.3% in the first quarter. Echo Street Capital Management LLC now owns 117 shares of the company’s stock valued at $239,000 after buying an additional 10 shares during the last quarter. 92.90% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
AZO has been the subject of several research analyst reports. Wells Fargo & Company raised their target price on shares of AutoZone from $2,350.00 to $2,450.00 and gave the company an “overweight” rating in a research note on Friday. The Goldman Sachs Group upgraded shares of AutoZone from a “neutral” rating to a “buy” rating and raised their target price for the stock from $1,969.00 to $2,296.00 in a report on Monday, June 27th. Stephens lifted their price objective on shares of AutoZone from $2,195.00 to $2,285.00 and gave the company an “overweight” rating in a report on Thursday, May 26th. DA Davidson boosted their price target on shares of AutoZone from $1,900.00 to $1,920.00 and gave the company a “neutral” rating in a report on Wednesday, May 25th. Finally, Truist Financial dropped their target price on shares of AutoZone from $2,215.00 to $2,174.00 and set a “buy” rating on the stock in a research report on Wednesday, May 25th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $2,175.29.
AutoZone Company Profile
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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