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

AutoZone, Inc. (NYSE:AZO) Director Michael George purchased 145 shares of the company’s stock in a transaction on Monday, December 22nd. The stock was acquired at an average price of $3,398.13 per share, with a total value of $492,728.85. Following the completion of the purchase, the director directly owned 566 shares in the company, valued at $1,923,341.58. This trade represents a 34.44% 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

Shares of AutoZone stock traded up $20.71 on Monday, hitting $3,413.05. 132,358 shares of the company traded hands, compared to its average volume of 134,085. AutoZone, Inc. has a 52 week low of $3,162.00 and a 52 week high of $4,388.11. The business has a 50-day simple moving average of $3,774.97 and a 200 day simple moving average of $3,885.31. The stock has a market capitalization of $56.77 billion, a P/E ratio of 23.80, a price-to-earnings-growth ratio of 1.61 and a beta of 0.40.

AutoZone (NYSE:AZO) last posted its earnings results on Tuesday, December 9th. The company reported $31.04 earnings per share for the quarter, missing the consensus estimate of $32.69 by ($1.65). The company had revenue of $4.63 billion for the quarter, compared to analysts’ expectations of $4.64 billion. AutoZone had a net margin of 12.78% and a negative return on equity of 65.38%. The business’s revenue was up 8.2% on a year-over-year basis. During the same period in the previous year, the business posted $32.52 earnings per share. Research analysts expect that AutoZone, Inc. will post 152.94 earnings per share for the current year.

AutoZone declared that its board has approved a stock buyback plan on Wednesday, October 8th that allows the company to buyback $0.00 in shares. This buyback authorization allows the company to reacquire shares of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s leadership believes its shares are undervalued.

Institutional Trading of AutoZone

A number of large investors have recently modified their holdings of the company. Flputnam Investment Management Co. increased its holdings in AutoZone by 3.2% during the 1st quarter. Flputnam Investment Management Co. now owns 96 shares of the company’s stock worth $366,000 after purchasing an additional 3 shares during the period. McLean Asset Management Corp grew its position in shares of AutoZone by 3.6% during the 2nd quarter. McLean Asset Management Corp now owns 87 shares of the company’s stock worth $320,000 after buying an additional 3 shares in the last quarter. NBC Securities Inc. increased its stake in shares of AutoZone by 0.9% during the second quarter. NBC Securities Inc. now owns 347 shares of the company’s stock valued at $1,288,000 after buying an additional 3 shares during the period. Valeo Financial Advisors LLC raised its holdings in shares of AutoZone by 4.3% in the second quarter. Valeo Financial Advisors LLC now owns 72 shares of the company’s stock valued at $267,000 after acquiring an additional 3 shares in the last quarter. Finally, Ritholtz Wealth Management lifted its stake in AutoZone by 0.3% in the second quarter. Ritholtz Wealth Management now owns 1,179 shares of the company’s stock worth $4,377,000 after acquiring an additional 3 shares during the period. Hedge funds and other institutional investors own 92.74% of the company’s stock.

Wall Street Analysts Forecast Growth

AZO has been the subject of a number of recent research reports. Rothschild & Co Redburn lifted their target price on AutoZone from $4,300.00 to $4,700.00 and gave the stock a “buy” rating in a report on Tuesday, October 7th. UBS Group dropped their price objective on shares of AutoZone from $4,800.00 to $4,325.00 and set a “buy” rating for the company in a research note on Wednesday, December 10th. TD Cowen reduced their target price on shares of AutoZone from $4,900.00 to $4,400.00 and set a “buy” rating on the stock in a research note on Wednesday, December 10th. Roth Capital reaffirmed a “buy” rating and set a $4,650.00 price target (down from $4,750.00) on shares of AutoZone in a research note on Wednesday, December 10th. Finally, Cowen reissued a “buy” rating on shares of AutoZone in a research report on Thursday, September 18th. Two investment 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 stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $4,317.27.

About AutoZone

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.