Key Points
- Director Michael George purchased 145 shares on Dec. 22 at an average price of $3,398.13, spending ~$492,729 and increasing his stake 34.44% to 566 shares valued at about $1.92M.
- Quarterly results missed EPS expectations — AutoZone reported $31.04 EPS vs. a $32.69 consensus (a $1.65 shortfall) while revenue rose 8.2% year-over-year to $4.63 billion.
- Analysts have trimmed targets recently but the consensus rating is a Moderate Buy with an average price target of $4,317.27, and institutional investors own roughly 92.74% of the stock.
AutoZone, Inc. (NYSE:AZO - Get Free Report) Director Michael George bought 145 shares of the firm's stock in a transaction on Monday, December 22nd. The shares were bought at an average cost of $3,398.13 per share, for a total transaction of $492,728.85. Following the purchase, the director owned 566 shares of the company's stock, valued at approximately $1,923,341.58. The trade was a 34.44% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
AutoZone Stock Performance
Shares of AZO opened at $3,413.05 on Tuesday. AutoZone, Inc. has a 52 week low of $3,162.00 and a 52 week high of $4,388.11. The stock has a market capitalization of $56.76 billion, a price-to-earnings ratio of 23.80, a PEG ratio of 1.61 and a beta of 0.40. The stock has a fifty day moving average of $3,761.34 and a 200-day moving average of $3,883.15.
AutoZone (NYSE:AZO - Get Free Report) last issued its earnings results on Tuesday, December 9th. The company reported $31.04 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $32.69 by ($1.65). The firm had revenue of $4.63 billion during 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%.AutoZone's revenue for the quarter was up 8.2% on a year-over-year basis. During the same period in the previous year, the company earned $32.52 EPS. As a group, equities analysts forecast that AutoZone, Inc. will post 152.94 EPS for the current year.
AutoZone declared that its Board of Directors has initiated a share repurchase plan on Wednesday, October 8th that allows the company to repurchase $0.00 in shares. This repurchase authorization allows the company to buy shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's board of directors believes its shares are undervalued.
Hedge Funds Weigh In On AutoZone
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in AutoZone by 1.5% during the 3rd quarter. Vanguard Group Inc. now owns 1,797,548 shares of the company's stock worth $7,711,912,000 after acquiring an additional 26,544 shares during the period. Laurel Wealth Advisors LLC boosted its position in shares of AutoZone by 371,123.0% during the 2nd 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 grew its stake in AutoZone by 1.6% during the second quarter. State Street Corp now owns 714,091 shares of the company's stock worth $2,650,870,000 after purchasing an additional 11,088 shares during the period. Geode Capital Management LLC grew its stake in AutoZone by 1.9% during the second quarter. Geode Capital Management LLC now owns 444,671 shares of the company's stock worth $1,649,228,000 after purchasing an additional 8,187 shares during the period. Finally, PineStone Asset Management Inc. increased its holdings in AutoZone by 3.9% in the second quarter. PineStone Asset Management Inc. now owns 281,693 shares of the company's stock worth $1,045,709,000 after purchasing an additional 10,456 shares in the last quarter. Institutional investors and hedge funds own 92.74% of the company's stock.
Analyst Ratings Changes
A number of research firms have weighed in on AZO. DA Davidson reduced their target price on shares of AutoZone from $4,850.00 to $4,500.00 and set a "buy" rating on the stock in a report on Wednesday, December 10th. Erste Group Bank cut shares of AutoZone from a "buy" rating to a "hold" rating in a research note on Friday, October 31st. Truist Financial decreased their price objective on AutoZone from $4,499.00 to $4,076.00 and set a "buy" rating for the company in a report on Wednesday, December 10th. The Goldman Sachs Group cut their target price on AutoZone from $4,262.00 to $4,234.00 and set a "buy" rating on the stock in a report on Wednesday, December 10th. Finally, BMO Capital Markets reduced their price target on AutoZone from $4,600.00 to $4,400.00 and set an "outperform" rating on the stock in a research 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 given a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $4,317.27.
Check Out Our Latest Research Report on AutoZone
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.
Further Reading
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
