Insider Selling: AutoZone, Inc. (NYSE:AZO) Chairman Sells 300 Shares of Stock

AutoZone, Inc. (NYSE:AZO) Chairman William C. Rhodes III sold 300 shares of AutoZone stock in a transaction that occurred on Thursday, October 3rd. The stock was sold at an average price of $3,075.20, for a total transaction of $922,560.00. Following the completion of the transaction, the chairman now directly owns 13,857 shares in the company, valued at approximately $42,613,046.40. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

AutoZone Trading Up 1.6 %

AZO stock opened at $3,101.85 on Wednesday. The firm has a market cap of $52.99 billion, a PE ratio of 21.24, a PEG ratio of 1.43 and a beta of 0.70. AutoZone, Inc. has a 1 year low of $2,375.35 and a 1 year high of $3,256.37. The company has a fifty day simple moving average of $3,132.17 and a 200 day simple moving average of $3,008.97.

AutoZone (NYSE:AZO) last announced its quarterly earnings results on Tuesday, September 24th. The company reported $48.11 earnings per share for the quarter, missing analysts’ consensus estimates of $53.31 by ($5.20). The company had revenue of $6.21 billion during the quarter, compared to analyst estimates of $6.25 billion. AutoZone had a negative return on equity of 54.58% and a net margin of 14.60%. AutoZone’s quarterly revenue was up 9.0% on a year-over-year basis. During the same period in the prior year, the firm earned $46.46 EPS. As a group, analysts forecast that AutoZone, Inc. will post 151.08 EPS for the current fiscal year.

Institutional Investors Weigh In On AutoZone

Large investors have recently added to or reduced their stakes in the stock. Rise Advisors LLC acquired a new stake in shares of AutoZone in the first quarter worth $32,000. Riverview Trust Co acquired a new position in AutoZone during the 1st quarter worth $41,000. Meeder Asset Management Inc. boosted its holdings in AutoZone by 50.0% during the second quarter. Meeder Asset Management Inc. now owns 15 shares of the company’s stock valued at $44,000 after acquiring an additional 5 shares during the period. E Fund Management Hong Kong Co. Ltd. bought a new position in shares of AutoZone in the second quarter worth about $50,000. Finally, ORG Partners LLC acquired a new position in shares of AutoZone during the 2nd quarter worth about $50,000. Institutional investors own 92.74% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on AZO shares. BNP Paribas raised shares of AutoZone to a “strong-buy” rating in a research note on Wednesday, September 25th. Guggenheim lifted their price target on AutoZone from $3,225.00 to $3,350.00 and gave the company a “buy” rating in a report on Wednesday, September 25th. Morgan Stanley increased their price objective on AutoZone from $3,038.00 to $3,125.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 25th. DA Davidson reaffirmed a “neutral” rating and set a $3,025.00 target price on shares of AutoZone in a research note on Monday, September 30th. Finally, Oppenheimer reissued a “market perform” rating and issued a $2,600.00 price target on shares of AutoZone in a research report on Wednesday, June 26th. Three investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $3,169.38.

About AutoZone

AutoZone, Inc retails and distributes automotive replacement parts and accessories in the United States, Mexico, and Brazil. The company provides 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.