Michael George Buys 145 Shares of AutoZone (NYSE:AZO) Stock

AutoZone, Inc. (NYSE:AZO) Director Michael George purchased 145 shares of the stock in a transaction dated Monday, December 22nd. The stock was bought at an average cost of $3,398.13 per share, with a total value of $492,728.85. Following the transaction, the director owned 566 shares in the company, valued at $1,923,341.58. The trade was a 34.44% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

AutoZone Trading Up 0.6%

NYSE:AZO traded up $20.71 on Monday, reaching $3,413.05. 132,358 shares of the stock traded hands, compared to its average volume of 134,085. The company has a market capitalization of $56.77 billion, a price-to-earnings ratio of 23.80, a PEG ratio of 1.61 and a beta of 0.40. AutoZone, Inc. has a 12 month low of $3,162.00 and a 12 month high of $4,388.11. The company’s fifty day simple moving average is $3,774.97 and its 200 day simple moving average is $3,885.31.

AutoZone (NYSE:AZO) last posted its quarterly earnings results on Tuesday, December 9th. The company reported $31.04 EPS for the quarter, missing analysts’ consensus estimates of $32.69 by ($1.65). AutoZone had a net margin of 12.78% and a negative return on equity of 65.38%. The firm had revenue of $4.63 billion for the quarter, compared to analysts’ expectations of $4.64 billion. During the same quarter in the previous year, the company earned $32.52 EPS. The company’s quarterly revenue was up 8.2% compared to the same quarter last year. Equities analysts anticipate that AutoZone, Inc. will post 152.94 EPS for the current fiscal year.

AutoZone announced that its board has approved a share buyback program 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. Shares repurchase programs are generally an indication that the company’s management believes its shares are undervalued.

Institutional Investors Weigh In On AutoZone

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Raleigh Capital Management Inc. purchased a new stake in shares of AutoZone in the third quarter worth $26,000. Turning Point Benefit Group Inc. bought a new stake in AutoZone during the third quarter valued at about $25,000. Saudi Central Bank bought a new stake in AutoZone during the first quarter valued at about $27,000. Global Trust Asset Management LLC lifted its position in shares of AutoZone by 600.0% in the third quarter. Global Trust Asset Management LLC now owns 7 shares of the company’s stock valued at $30,000 after acquiring an additional 6 shares in the last quarter. Finally, Aspect Partners LLC boosted its stake in shares of AutoZone by 700.0% in the second quarter. Aspect Partners LLC now owns 8 shares of the company’s stock worth $30,000 after acquiring an additional 7 shares during the period. Institutional investors own 92.74% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on AZO. Baird R W upgraded AutoZone to a “strong-buy” rating in a report on Thursday, December 4th. The Goldman Sachs Group reduced their price target on shares of AutoZone from $4,262.00 to $4,234.00 and set a “buy” rating for the company in a research note on Wednesday, December 10th. TD Cowen lowered their price objective on shares of AutoZone from $4,900.00 to $4,400.00 and set a “buy” rating on the stock in a research report on Wednesday, December 10th. Erste Group Bank cut shares of AutoZone from a “buy” rating to a “hold” rating in a report on Friday, October 31st. Finally, Barclays decreased their target price on shares of AutoZone from $4,510.00 to $4,318.00 and set an “overweight” rating for the company in a research note on Wednesday, December 10th. Two equities 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’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $4,317.27.

AutoZone Company Profile

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.