AutoZone (AZO) PT Raised to $810.00 at Credit Suisse Group

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AutoZone (NYSE:AZO) had its target price increased by Credit Suisse Group from $790.00 to $810.00 in a research note issued on Wednesday. The firm presently has an “outperform” rating on the stock. Credit Suisse Group’s price objective would suggest a potential upside of 4.84% from the company’s current price.

Several other equities research analysts have also issued reports on the stock. Argus reduced their price objective on shares of AutoZone to $820.00 and set a “buy” rating for the company in a research note on Thursday, August 30th. Zacks Investment Research raised shares of AutoZone from a “hold” rating to a “buy” rating and set a $860.00 price objective for the company in a research note on Tuesday, August 28th. Stephens raised shares of AutoZone from an “equal weight” rating to an “overweight” rating and set a $875.00 price objective for the company in a research note on Wednesday, August 15th. They noted that the move was a valuation call. MED raised shares of AutoZone from a “hold” rating to a “buy” rating and lifted their price objective for the company from $675.00 to $805.00 in a research note on Wednesday, August 1st. They noted that the move was a valuation call. Finally, Deutsche Bank raised shares of AutoZone from a “hold” rating to a “buy” rating and lifted their price objective for the company from $675.00 to $805.00 in a research note on Wednesday, August 1st. Eight equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $748.84.

Shares of AZO stock traded down $10.41 on Wednesday, hitting $772.59. The company’s stock had a trading volume of 6,408 shares, compared to its average volume of 211,997. The company has a current ratio of 0.95, a quick ratio of 0.14 and a debt-to-equity ratio of -3.64. AutoZone has a fifty-two week low of $533.00 and a fifty-two week high of $797.89. The firm has a market cap of $20.27 billion, a PE ratio of 18.05, a PEG ratio of 1.16 and a beta of 0.87.

In other AutoZone news, insider Philip B. Daniele sold 740 shares of the business’s stock in a transaction on Friday, June 22nd. The shares were sold at an average price of $683.54, for a total transaction of $505,819.60. Following the completion of the transaction, the insider now owns 1,072 shares of the company’s stock, valued at approximately $732,754.88. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Albert Saltiel sold 2,150 shares of the business’s stock in a transaction on Thursday, August 2nd. The stock was sold at an average price of $717.90, for a total transaction of $1,543,485.00. Following the transaction, the insider now directly owns 2,297 shares of the company’s stock, valued at approximately $1,649,016.30. The disclosure for this sale can be found here. 2.80% of the stock is owned by insiders.

A number of institutional investors have recently added to or reduced their stakes in the business. Synovus Financial Corp bought a new position in shares of AutoZone during the 1st quarter worth about $135,000. Bronfman E.L. Rothschild L.P. increased its holdings in shares of AutoZone by 197.5% during the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 235 shares of the company’s stock worth $158,000 after purchasing an additional 156 shares during the period. First Interstate Bank increased its holdings in shares of AutoZone by 332.7% during the 2nd quarter. First Interstate Bank now owns 238 shares of the company’s stock worth $160,000 after purchasing an additional 183 shares during the period. Flagship Harbor Advisors LLC bought a new position in shares of AutoZone during the 2nd quarter worth about $173,000. Finally, Ledyard National Bank increased its holdings in shares of AutoZone by 62.5% during the 2nd quarter. Ledyard National Bank now owns 260 shares of the company’s stock worth $174,000 after purchasing an additional 100 shares during the period. 91.60% of the stock is owned by hedge funds and other institutional investors.

AutoZone Company Profile

AutoZone, Inc retails and distributes automotive replacement parts and accessories. It 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. The company's 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, thermostats, starters and alternators, and water pumps.

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