Key Points
- AutoZone CFO Jamere Jackson bought 55 shares on Dec. 10 at $3,413.50 each (total $187,742.50), raising his holding to 488 shares — a 12.7% increase — as disclosed in an SEC filing.
- Recent results were slightly below expectations: Q results showed $31.04 EPS vs. $32.69 expected and $4.63B revenue vs. $4.64B expected, while the stock trades near $3,440 and analysts maintain a generally bullish view (average target ≈ $4,365, majority "Buy" ratings).
AutoZone, Inc. (NYSE:AZO - Get Free Report) CFO Jamere Jackson purchased 55 shares of the company's stock in a transaction dated Wednesday, December 10th. The shares were purchased at an average price of $3,413.50 per share, for a total transaction of $187,742.50. Following the completion of the purchase, the chief financial officer owned 488 shares of the company's stock, valued at approximately $1,665,788. This trade represents a 12.70% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.
AutoZone Stock Down 0.8%
Shares of NYSE:AZO opened at $3,440.41 on Friday. AutoZone, Inc. has a 52 week low of $3,162.00 and a 52 week high of $4,388.11. The company has a 50-day moving average price of $3,838.77 and a 200 day moving average price of $3,893.49. The company has a market cap of $57.22 billion, a P/E ratio of 23.99, a PEG ratio of 1.64 and a beta of 0.40.
AutoZone (NYSE:AZO - Get Free Report) last released its earnings results on Tuesday, December 9th. The company reported $31.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $32.69 by ($1.65). The business had revenue of $4.63 billion for the quarter, compared to analyst estimates of $4.64 billion. AutoZone had a negative return on equity of 65.38% and a net margin of 12.78%.The business's revenue for the quarter was up 8.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $32.52 EPS. Analysts expect that AutoZone, Inc. will post 152.94 EPS for the current year.
AutoZone declared that its Board of Directors has authorized a share buyback program on Wednesday, October 8th that allows the company to buyback $0.00 in outstanding shares. This buyback authorization allows the company to buy shares of its stock through open market purchases. Shares buyback programs are typically a sign that the company's board of directors believes its stock is undervalued.
Institutional Trading of AutoZone
Several large investors have recently modified their holdings of AZO. Turning Point Benefit Group Inc. acquired a new stake in AutoZone during the 3rd quarter valued at $25,000. Raleigh Capital Management Inc. purchased a new stake in shares of AutoZone in the third quarter valued at $26,000. Saudi Central Bank acquired a new stake in shares of AutoZone during the first quarter valued at $27,000. Aspect Partners LLC boosted its stake in shares of AutoZone by 700.0% during the second quarter. Aspect Partners LLC now owns 8 shares of the company's stock valued at $30,000 after acquiring an additional 7 shares during the last quarter. Finally, Global Trust Asset Management LLC increased its position in AutoZone by 600.0% during the 3rd quarter. Global Trust Asset Management LLC now owns 7 shares of the company's stock worth $30,000 after purchasing an additional 6 shares in the last quarter. 92.74% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several research analysts have issued reports on the company. Morgan Stanley raised their target price on AutoZone from $4,000.00 to $4,700.00 and gave the company an "overweight" rating in a report on Wednesday, September 24th. Rothschild & Co Redburn increased their price target on shares of AutoZone from $4,300.00 to $4,700.00 and gave the company a "buy" rating in a report on Tuesday, October 7th. Gabelli reiterated a "buy" rating on shares of AutoZone in a research note on Thursday, November 6th. Robert W. Baird began coverage on shares of AutoZone in a research report on Wednesday, December 3rd. They set an "outperform" rating and a $4,500.00 target price on the stock. Finally, JPMorgan Chase & Co. lifted their price target on shares of AutoZone from $4,200.00 to $4,850.00 and gave the company an "overweight" rating in a research report on Monday, September 15th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $4,365.35.
Read Our Latest Report on AZO
AutoZone Company Profile
(
Get Free Report)
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.
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