ugg AutoZone (NYSE:AZO) Cut to “Neutral” at Guggenheim

December 17, 2017

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ugg AutoZone (NYSE:AZO) Cut to “Neutral” at Guggenheim-1Guggenheim cut shares of AutoZone (NYSE:AZO) from a buy rating to a neutral rating in a research note published on Wednesday, December 6th, MarketBeat reports.

Other equities analysts have also recently issued research reports about the company. UBS reiterated a buy rating and set a $655.00 price target (down previously from $725.00) on shares of AutoZone in a report on Wednesday, September 20th. Credit Suisse Group reiterated a buy rating and set a $583.00 price target on shares of AutoZone in a report on Wednesday, September 20th. Citigroup restated a buy rating and set a $700.00 price objective on shares of AutoZone in a report on Wednesday, September 20th. Bank of America restated a buy rating and set a $625.00 price objective on shares of AutoZone in a report on Tuesday, September 5th. Finally, Oppenheimer restated a buy rating on shares of AutoZone in a report on Thursday, September 21st. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and nine have assigned a buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus price target of $717.24.

Shares of AutoZone (NYSE:AZO) traded down $4.17 during trading on Wednesday, reaching $697.06. The company had a trading volume of 583,184 shares, compared to its average volume of 517,603. The firm has a market cap of $19,116.93, a P/E ratio of 15.70, a PEG ratio of 1.29 and a beta of 0.72. AutoZone has a twelve month low of $491.13 and a twelve month high of $809.52. The company has a debt-to-equity ratio of -3.27, a current ratio of 0.93 and a quick ratio of 0.14.

AutoZone (NYSE:AZO) last announced its quarterly earnings data on Tuesday, December 5th. The company reported $10.00 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $9.90 by $0.10. The company had revenue of $2.59 billion during the quarter, compared to analysts’ expectations of $2.54 billion. AutoZone had a negative return on equity of 78.83% and a net margin of 11.66%. AutoZone’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same quarter last year, the company earned $9.36 EPS. equities research analysts predict that AutoZone will post 46.73 EPS for the current fiscal year.

In other AutoZone news, VP Charles Pleas III sold 10,000 shares of the company’s stock in a transaction on Thursday, December 7th. The shares were sold at an average price of $700.00, for a total transaction of $7,000,000.00. Following the ugg australia sale, the vice president now owns 14,377 shares of the company’s stock, valued at $10,063,900. The ugg australia sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director William Andrew Mckenna sold 3,000 shares of the stock in a transaction dated Thursday, September 28th. The stock was sold at an average price of $584.96, for a total transaction of $1,754,880.00. Following the transaction, the director now directly owns 8,131 shares in the company, valued at approximately $4,756,309.76. The disclosure for this ugg australia sale can be found here. Insiders have sold 80,823 shares of company stock valued at $56,687,723 over the last quarter. Company insiders own 2.60% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in AZO. Fieldpoint Private Securities LLC bought a new position in shares of AutoZone during the 2nd quarter worth about $114,000. ugg australia salem Investment Counselors Inc. raised its holdings in shares of AutoZone by 3.5% in the 2nd quarter. ugg australia salem Investment Counselors Inc. now owns 264 shares of the company’s stock worth $151,000 after acquiring an additional 9 shares during the last quarter. Fuller & Thaler Asset Management Inc. acquired a new stake in shares of AutoZone in the 3rd quarter worth about $179,000. Global X Management Co. LLC raised its holdings in shares of AutoZone by 12.9% in the 2nd quarter. Global X Management Co. LLC now owns 323 shares of the company’s stock worth $184,000 after acquiring an additional 37 shares during the last quarter. Finally, Jarislowsky Fraser Ltd acquired a new stake in shares of AutoZone in the 3rd quarter worth about $202,000. 99.03% of the stock is currently owned by institutional investors.

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About AutoZone

Autozone, Inc is a retailer and distributor of automotive replacement parts and accessories in the United States. The Company operates through the Auto Parts Locations segment. The Auto Parts Locations segment is a retailer and distributor of automotive parts and accessories. As of August 27, 2016, the Company operated through 5,814 locations in the United States, Puerto Rico, Mexico and Brazil.

ugg AutoZone (NYSE:AZO) Cut to “Neutral” at Guggenheim-2

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