D.A. Davidson & CO. Buys 174 Shares of AutoZone, Inc. $AZO

D.A. Davidson & CO. boosted its stake in shares of AutoZone, Inc. (NYSE:AZO) by 8.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,272 shares of the company’s stock after buying an additional 174 shares during the period. D.A. Davidson & CO.’s holdings in AutoZone were worth $7,674,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. Turning Point Benefit Group Inc. purchased a new position in AutoZone during the third quarter valued at approximately $25,000. Torren Management LLC purchased a new stake in shares of AutoZone in the 4th quarter valued at approximately $27,000. Transamerica Financial Advisors LLC lifted its position in AutoZone by 100.0% in the fourth quarter. Transamerica Financial Advisors LLC now owns 8 shares of the company’s stock valued at $28,000 after acquiring an additional 4 shares during the last quarter. MCF Advisors LLC lifted its stake in AutoZone by 50.0% in the fourth quarter. MCF Advisors LLC now owns 9 shares of the company’s stock valued at $31,000 after buying an additional 3 shares during the last quarter. Finally, Bard Associates Inc. purchased a new stake in shares of AutoZone in the fourth quarter valued at about $31,000. Hedge funds and other institutional investors own 92.74% of the company’s stock.

AutoZone Price Performance

Shares of NYSE:AZO opened at $3,046.69 on Friday. The company has a market capitalization of $49.75 billion, a P/E ratio of 20.95, a P/E/G ratio of 1.55 and a beta of 0.33. AutoZone, Inc. has a 1 year low of $2,928.11 and a 1 year high of $4,388.11. The business’s 50 day simple moving average is $3,142.61 and its 200 day simple moving average is $3,416.46.

AutoZone (NYSE:AZO) last released its quarterly earnings results on Tuesday, May 26th. The company reported $38.07 EPS for the quarter, beating analysts’ consensus estimates of $36.22 by $1.85. The firm had revenue of $4.84 billion for the quarter, compared to analyst estimates of $4.86 billion. AutoZone had a negative return on equity of 80.35% and a net margin of 12.40%.The business’s revenue was up 8.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $35.36 EPS. On average, sell-side analysts anticipate that AutoZone, Inc. will post 150.51 EPS for the current fiscal year.

AutoZone declared that its Board of Directors has approved a stock repurchase plan on Tuesday, June 16th that permits the company to buyback $1.50 billion in shares. This buyback authorization permits the company to purchase up to 3% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its stock is undervalued.

Insider Buying and Selling at AutoZone

In related news, Director Brian Hannasch bought 165 shares of the business’s stock in a transaction on Friday, May 29th. The stock was acquired at an average price of $2,987.00 per share, for a total transaction of $492,855.00. Following the purchase, the director directly owned 1,219 shares in the company, valued at $3,641,153. This trade represents a 15.65% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 2.60% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on AZO. The Goldman Sachs Group cut their price target on AutoZone from $4,345.00 to $4,096.00 and set a “buy” rating for the company in a report on Wednesday, May 27th. Guggenheim lowered their price target on shares of AutoZone from $4,400.00 to $4,000.00 and set a “buy” rating for the company in a research report on Wednesday, May 27th. JPMorgan Chase & Co. cut their target price on shares of AutoZone from $4,300.00 to $3,850.00 and set an “overweight” rating for the company in a research note on Wednesday, May 27th. TD Cowen reaffirmed a “buy” rating and set a $3,700.00 price target on shares of AutoZone in a research note on Thursday, June 4th. Finally, Morgan Stanley decreased their price target on shares of AutoZone from $4,020.00 to $3,605.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 27th. One analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $4,040.87.

AutoZone 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.