Key Points
- Insider purchase: AutoZone director Brian Hannasch bought 147 shares on Dec. 18 at an average price of $3,393.09 (total $498,784.23), increasing his holding to 962 shares (an 18.04% boost) as disclosed in an SEC filing.
- Recent results and analyst outlook: AutoZone missed quarterly EPS ($31.04 vs. $32.69 expected) and slightly missed revenue forecasts, while trading at a PE of 23.65 and carrying a consensus "Moderate Buy" analyst rating with a $4,317.27 average price target.
- Shareholder composition and buyback note: Institutional investors own 92.74% of the stock, and the board has authorized a share repurchase program (article reports a $0.00 authorization), indicating management's focus on capital allocation.
AutoZone, Inc. (NYSE:AZO - Get Free Report) Director Brian Hannasch bought 147 shares of the business's stock in a transaction on Thursday, December 18th. The shares were acquired at an average cost of $3,393.09 per share, for a total transaction of $498,784.23. Following the transaction, the director directly owned 962 shares in the company, valued at approximately $3,264,152.58. This trade represents a 18.04% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website.
AutoZone Stock Performance
Shares of AZO opened at $3,391.42 on Friday. The company has a 50 day moving average price of $3,774.97 and a 200-day moving average price of $3,883.21. AutoZone, Inc. has a fifty-two week low of $3,162.00 and a fifty-two week high of $4,388.11. The stock has a market capitalization of $56.40 billion, a PE ratio of 23.65, a PEG ratio of 1.62 and a beta of 0.40.
AutoZone (NYSE:AZO - Get Free Report) last issued its quarterly earnings data 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 analysts' expectations of $4.64 billion. AutoZone had a net margin of 12.78% and a negative return on equity of 65.38%. The business's quarterly revenue was up 8.2% compared to the same quarter last year. During the same period in the previous year, the business earned $32.52 earnings per share. Equities research analysts forecast that AutoZone, Inc. will post 152.94 EPS for the current year.
AutoZone announced that its Board of Directors has authorized a share repurchase program on Wednesday, October 8th that authorizes the company to buyback $0.00 in shares. This buyback authorization authorizes the company to repurchase shares of its stock through open market purchases. Stock buyback programs are generally a sign that the company's board of directors believes its stock is undervalued.
Institutional Inflows and Outflows
Large investors have recently made changes to their positions in the business. Vanguard Group Inc. grew its stake in AutoZone by 1.5% in the 3rd quarter. Vanguard Group Inc. now owns 1,797,548 shares of the company's stock valued at $7,711,912,000 after acquiring an additional 26,544 shares during the period. Laurel Wealth Advisors LLC lifted its holdings in AutoZone by 371,123.0% during the second quarter. Laurel Wealth Advisors LLC now owns 935,482 shares of the company's stock valued at $3,472,724,000 after purchasing an additional 935,230 shares in the last quarter. State Street Corp lifted its holdings in AutoZone by 1.6% during the second quarter. State Street Corp now owns 714,091 shares of the company's stock valued at $2,650,870,000 after purchasing an additional 11,088 shares in the last quarter. Geode Capital Management LLC grew its position in shares of AutoZone by 1.9% in the second quarter. Geode Capital Management LLC now owns 444,671 shares of the company's stock valued at $1,649,228,000 after purchasing an additional 8,187 shares during the period. Finally, Price T Rowe Associates Inc. MD increased its stake in shares of AutoZone by 7.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 349,317 shares of the company's stock worth $1,331,870,000 after purchasing an additional 24,701 shares in the last quarter. 92.74% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of equities research analysts have commented on AZO shares. UBS Group decreased their price target on AutoZone from $4,800.00 to $4,325.00 and set a "buy" rating for the company in a research note on Wednesday, December 10th. The Goldman Sachs Group dropped their price objective on shares of AutoZone from $4,262.00 to $4,234.00 and set a "buy" rating on the stock in a report on Wednesday, December 10th. Rothschild & Co Redburn increased their price objective on shares of AutoZone from $4,300.00 to $4,700.00 and gave the stock a "buy" rating in a research note on Tuesday, October 7th. 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 for the company. Finally, Wells Fargo & Company lowered their price target on shares of AutoZone from $4,700.00 to $4,500.00 and set an "overweight" rating on the stock in a report on Wednesday, December 10th. Two research analysts have rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $4,317.27.
Read Our Latest Report on AZO
AutoZone Company Profile
(
Get Free Report)
AutoZone, Inc (NYSE: AZO) is a retailer and distributor of automotive replacement parts and accessories. Headquartered in Memphis, Tennessee, the company supplies a wide range of aftermarket components, maintenance items and accessories for passenger cars, light trucks and commercial vehicles. Its product assortment includes engine parts, electrical components, batteries, brakes, filters, fluids and interior and exterior accessories, supported by inventory management and logistics systems to serve retail customers and professional service providers.
AutoZone serves both do‑it‑yourself (DIY) consumers and commercial customers such as independent repair shops and service centers.
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