AutoZone (NYSE:AZO) Director Brian Hannasch Purchases 147 Shares

AutoZone, Inc. (NYSE:AZO) Director Brian Hannasch purchased 147 shares of the company’s stock in a transaction on Thursday, December 18th. The stock was acquired at an average price of $3,393.09 per share, with a total value of $498,784.23. Following the completion of the purchase, the director directly owned 962 shares in the company, valued at $3,264,152.58. This trade represents a 18.04% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

AutoZone Stock Performance

AZO stock opened at $3,391.42 on Friday. The company’s fifty day moving average price is $3,774.97 and its 200-day moving average price is $3,883.21. AutoZone, Inc. has a one year low of $3,162.00 and a one year high of $4,388.11. The company has a market capitalization of $56.40 billion, a PE ratio of 23.65, a price-to-earnings-growth ratio of 1.62 and a beta of 0.40.

AutoZone (NYSE:AZO) last announced its quarterly earnings results on Tuesday, December 9th. The company reported $31.04 earnings per share (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 company had revenue of $4.63 billion during the quarter, compared to the consensus estimate of $4.64 billion. During the same quarter in the prior year, the firm posted $32.52 earnings per share. The business’s revenue was up 8.2% on a year-over-year basis. On average, research analysts predict that AutoZone, Inc. will post 152.94 EPS for the current fiscal year.

AutoZone announced that its board has approved a share repurchase program on Wednesday, October 8th that permits the company to repurchase $0.00 in outstanding shares. This repurchase authorization permits the company to repurchase shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its shares are undervalued.

Analysts Set New Price Targets

A number of research firms recently weighed in on AZO. Zacks Research raised shares of AutoZone from a “strong sell” rating to a “hold” rating in a report on Monday, November 24th. Jefferies Financial Group restated a “buy” rating and set a $4,400.00 target price on shares of AutoZone in a research report on Wednesday, December 10th. UBS Group dropped their price target on AutoZone from $4,800.00 to $4,325.00 and set a “buy” rating for the company in a research report on Wednesday, December 10th. Truist Financial reduced their price objective on AutoZone from $4,499.00 to $4,076.00 and set a “buy” rating on the stock in a research note on Wednesday, December 10th. Finally, BMO Capital Markets decreased their price objective on AutoZone from $4,600.00 to $4,400.00 and set an “outperform” rating on the stock in a research report on Wednesday, December 10th. Two research analysts have rated the stock with a Strong Buy rating, twenty-six have given a Buy rating and four have given 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 price target of $4,317.27.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the business. Brighton Jones LLC grew its position in AutoZone by 14.4% in the 4th quarter. Brighton Jones LLC now owns 111 shares of the company’s stock valued at $356,000 after acquiring an additional 14 shares during the last quarter. American Century Companies Inc. increased its position in shares of AutoZone by 1.3% during the first quarter. American Century Companies Inc. now owns 1,597 shares of the company’s stock worth $6,089,000 after acquiring an additional 20 shares during the period. Aptus Capital Advisors LLC boosted its holdings in shares of AutoZone by 100.0% in the first quarter. Aptus Capital Advisors LLC now owns 532 shares of the company’s stock valued at $2,028,000 after purchasing an additional 266 shares during the period. Legacy Financial Advisors Inc. grew its stake in AutoZone by 7.2% in the first quarter. Legacy Financial Advisors Inc. now owns 74 shares of the company’s stock worth $282,000 after purchasing an additional 5 shares in the last quarter. Finally, PGIM Custom Harvest LLC purchased a new position in AutoZone during the 1st quarter worth $229,000. Hedge funds and other institutional investors own 92.74% of the company’s stock.

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.