Nomura Begins Coverage on AutoZone (NYSE:AZO)

Nomura began coverage on shares of AutoZone (NYSE:AZO) in a research report released on Thursday, Benzinga’s Daily Ratings Newsletter reports. The brokerage issued a buy rating and a $1,250.00 price objective on the stock.

Other research analysts have also issued research reports about the company. Raymond James began coverage on AutoZone in a report on Monday, October 7th. They set an outperform rating and a $1,250.00 price objective on the stock. Wedbush reissued an outperform rating and set a $1,240.00 price objective (up previously from $1,100.00) on shares of AutoZone in a report on Thursday, September 19th. Goldman Sachs Group began coverage on AutoZone in a report on Thursday, July 11th. They set a neutral rating and a $1,183.00 price objective on the stock. Citigroup increased their price objective on AutoZone from $1,357.00 to $1,363.00 and gave the company a buy rating in a report on Monday, October 21st. Finally, Morgan Stanley increased their price objective on AutoZone from $1,050.00 to $1,100.00 and gave the company an equal weight rating in a report on Wednesday, September 25th. Five research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. The company presently has a consensus rating of Buy and a consensus price target of $1,142.71.

Shares of NYSE AZO traded up $0.25 during mid-day trading on Thursday, reaching $1,165.86. 135,985 shares of the company traded hands, compared to its average volume of 271,075. The stock has a market cap of $27.43 billion, a PE ratio of 18.38, a price-to-earnings-growth ratio of 1.44 and a beta of 0.62. The company’s fifty day moving average is $1,110.10 and its two-hundred day moving average is $1,095.65. AutoZone has a fifty-two week low of $790.07 and a fifty-two week high of $1,186.60.

AutoZone (NYSE:AZO) last issued its quarterly earnings data on Tuesday, September 24th. The company reported $22.59 EPS for the quarter, beating the Zacks’ consensus estimate of $21.80 by $0.79. The business had revenue of $3.99 billion for the quarter, compared to analyst estimates of $3.93 billion. AutoZone had a negative return on equity of 98.67% and a net margin of 13.63%. The firm’s revenue for the quarter was up 12.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $18.54 EPS. As a group, sell-side analysts predict that AutoZone will post 65.39 earnings per share for the current year.

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In other AutoZone news, Director Earl G. Graves, Jr. sold 500 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $1,077.04, for a total value of $538,520.00. Following the completion of the sale, the director now owns 4,607 shares in the company, valued at approximately $4,961,923.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 2.50% of the company’s stock.

Several hedge funds have recently made changes to their positions in the business. BlackRock Inc. lifted its position in shares of AutoZone by 7.6% in the 2nd quarter. BlackRock Inc. now owns 2,063,593 shares of the company’s stock worth $2,268,859,000 after acquiring an additional 146,643 shares during the period. Investec Asset Management LTD lifted its position in shares of AutoZone by 157.0% in the 2nd quarter. Investec Asset Management LTD now owns 648,507 shares of the company’s stock worth $271,780,000 after acquiring an additional 396,216 shares during the period. Boston Partners lifted its position in shares of AutoZone by 150.3% in the 2nd quarter. Boston Partners now owns 433,268 shares of the company’s stock worth $476,624,000 after acquiring an additional 260,171 shares during the period. Northern Trust Corp lifted its position in shares of AutoZone by 2.5% during the 2nd quarter. Northern Trust Corp now owns 324,399 shares of the company’s stock worth $356,668,000 after buying an additional 7,959 shares during the period. Finally, APG Asset Management N.V. lifted its position in shares of AutoZone by 28.0% during the 2nd quarter. APG Asset Management N.V. now owns 299,990 shares of the company’s stock worth $289,629,000 after buying an additional 65,700 shares during the period. Institutional investors own 97.16% of the company’s stock.

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, 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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Analyst Recommendations for AutoZone (NYSE:AZO)

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