Autozone Inc (NYSE:AZO) Rating Reaffirmed
The firm has just set a TP of $770.00 on Autozone Inc (NYSE:AZO) shares. This is -1.39% from the stock close price. In an analyst note disseminated on 9 December, Deutsche Bank has restated their “Hold” rating on shares of AZO.
From a total of 16 analysts covering Autozone Inc. (NYSE:AZO) stock, 9 rate it a ”Buy”, 0 a “Sell”, and 15 a ”Hold”. This means that 38% of the ratings are positive. The highest target price is $915 while the lowest target price is $680. The mean of all analyst targets is $795.75 with a -2.50% below today’s ($783.81) stock price. Autozone Inc. was the topic of 9 analyst reports since August 24, 2015 according to the firm StockzIntelligence Inc. Oppenheimer upgraded shares on October 5 to “Outperform” rating. RBC Capital Markets maintained AZO stock in a recent report from September 23 with “Sector Perform” rating. Finally, Bank of America maintained the stock with “Buy” rating in a report issued on an August 30.
The stock decreased 1.43% or $11.39 on December 9, striking $783.81. Approximately 422,326 shares of stock traded hands or 58.48% up from the average. AutoZone, Inc. (NYSE:AZO) has risen 17.93% since May 6, 2015 and is uptrending. It has outperformed by 18.73% the S&P500.
The overall sentiment of institutions has increased to 0.94 in Q2 2015. Its up 0.03, from 0.91 in 2015Q2. The ratio is positive, as 37 institutions have sold all the shares of AutoZone, Inc. that they owned while 209 funds have taken shares off the table. 57 funds have purchased shares for the first time while 174 added to their positions. These institutions now hold 40.00 million shares or 37.24% more than the 29.14 million shares they owned in 2015Q2.
The Fund Flood Gamble Associates Inc currently is holding shares equating to 5.5% of its total portfolio in AutoZone, Inc. representing a total of 14,834 shares. Another fund,Petrus Trust Company Lta, is holding a total of 33,200 shares equating to 5.1% of their holdings. Additionally, Edgestream Partners L.P. has a 3,420 share stake in AutoZone, Inc. which represents 4.33% of their total portfolio. The Fund, Fox Point Capital Management Llc, based out of New York, has also built up a stake in the stock, which represents a total of 4.29% of their total portfolio. Finally Forester Capital Management Ltd, a fund which is based in the state of Illinois reported a total holdings of 6,276 shares.
Insider activity is a very important aspect to track on any stock. Going back to March 4, 2015, shareholders of AutoZone, Inc. have witnessed 0 insider purchases, and a total of 6 sales equating to a net activity of approximately $50.98 million . Graves Earl G Jr sold 1,000 shares worth approximately $732,522. Rhodes William C Iii sold 38,600 shares worth approximately $28.74 million. Giles William T sold 21,400 shares worth approximately $15.73M. Mckenna William Andrew sold 3,000 shares worth approximately $2.04M. The company insider Finestone Mark A. sold 4,500 shares worth $3.05M.
AutoZone, Inc. is a retailer and a distributor of automotive replacement parts and accessories in the United States. The company has a market cap of $24.31 billion. The Company’s divisions include Auto Parts Stores and Other. It has 21.65 P/E ratio. The Company’s Auto Parts Stores segment includes Domestic Auto Parts, Mexico, Brazil and Interamerican Motor Corporation (IMC).
According to Zacks Investment Research, “Autozone is the nation’s leading specialty retailer of automotive parts and accessories, primarily focusing on do-it-yourself customers. Each of the company’s auto parts store carries an extensive product line for cars, vans and light trucks, including new and re-manufactured automotive hard parts, maintenance items, and accessories. Many of the company’s domestic auto parts stores also has a commercial sales program, which provides commercial credit and prompt delivery of parts and other products to local repair garages, dealers and service stations.” Get a free copy of the Zacks research report on AutoZone, Inc. (AZO).