Guggenheim Reiterates Buy Rating for AutoZone (NYSE:AZO)

AutoZone (NYSE:AZO)‘s stock had its “buy” rating reiterated by Guggenheim in a research report issued to clients and investors on Wednesday,Benzinga reports.

AZO has been the subject of a number of other research reports. UBS Group upped their price objective on shares of AutoZone from $3,340.00 to $3,500.00 and gave the company a “buy” rating in a research note on Wednesday, September 25th. Morgan Stanley upped their price target on shares of AutoZone from $3,038.00 to $3,125.00 and gave the company an “overweight” rating in a research report on Wednesday, September 25th. Mizuho lifted their price objective on AutoZone from $3,280.00 to $3,350.00 and gave the stock an “outperform” rating in a report on Wednesday, September 25th. The Goldman Sachs Group cut AutoZone from a “buy” rating to a “sell” rating and dropped their target price for the company from $3,205.00 to $2,917.00 in a report on Monday, October 14th. Finally, Citigroup decreased their price target on AutoZone from $3,787.00 to $3,500.00 and set a “buy” rating on the stock in a research note on Wednesday, September 25th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, fifteen have issued a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $3,216.44.

AutoZone Stock Up 0.0 %

NYSE AZO opened at $3,190.07 on Wednesday. The stock’s 50-day simple moving average is $3,128.29 and its two-hundred day simple moving average is $3,043.20. AutoZone has a twelve month low of $2,510.00 and a twelve month high of $3,256.37. The company has a market capitalization of $53.92 billion, a price-to-earnings ratio of 21.31, a PEG ratio of 1.61 and a beta of 0.71.

AutoZone (NYSE:AZO) last announced its quarterly earnings data on Tuesday, September 24th. The company reported $48.11 earnings per share for the quarter, missing analysts’ consensus estimates of $53.31 by ($5.20). The firm had revenue of $6.21 billion for the quarter, compared to analysts’ expectations of $6.25 billion. AutoZone had a net margin of 14.40% and a negative return on equity of 52.99%. The business’s quarterly revenue was up 9.0% on a year-over-year basis. During the same period in the prior year, the business posted $46.46 earnings per share. On average, equities analysts expect that AutoZone will post 158.09 earnings per share for the current fiscal year.

Insider Buying and Selling at AutoZone

In other AutoZone news, Chairman William C. Rhodes III sold 13,000 shares of the stock in a transaction on Thursday, October 10th. The stock was sold at an average price of $3,107.15, for a total value of $40,392,950.00. Following the completion of the transaction, the chairman now owns 13,857 shares in the company, valued at approximately $43,055,777.55. This represents a 48.40 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP John Scott Murphy sold 1,580 shares of the firm’s stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $3,107.69, for a total transaction of $4,910,150.20. Following the transaction, the vice president now directly owns 1,218 shares of the company’s stock, valued at $3,785,166.42. This represents a 56.47 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 14,880 shares of company stock valued at $46,225,660. 2.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On AutoZone

A number of institutional investors have recently modified their holdings of the stock. Capital Performance Advisors LLP bought a new position in AutoZone in the 3rd quarter worth about $36,000. Meeder Asset Management Inc. increased its stake in AutoZone by 50.0% during the 2nd quarter. Meeder Asset Management Inc. now owns 15 shares of the company’s stock valued at $44,000 after purchasing an additional 5 shares in the last quarter. Carolina Wealth Advisors LLC purchased a new position in AutoZone in the third quarter worth about $47,000. Darwin Wealth Management LLC bought a new position in shares of AutoZone in the third quarter worth approximately $47,000. Finally, E Fund Management Hong Kong Co. Ltd. purchased a new stake in shares of AutoZone during the second quarter valued at approximately $50,000. 92.74% of the stock is owned by hedge funds and other institutional investors.

About AutoZone

AutoZone, Inc retails and distributes automotive replacement parts and accessories in the United States, Mexico, and Brazil. The company provides 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.