Traders Buy Shares of AutoZone, Inc. (AZO) on Weakness Following Insider Selling
Investors purchased shares of AutoZone, Inc. (NYSE:AZO) on weakness during trading on Monday after an insider sold shares in the company. $78.65 million flowed into the stock on the tick-up and $45.33 million flowed out of the stock on the tick-down, for a money net flow of $33.32 million into the stock. Of all stocks tracked, AutoZone had the 18th highest net in-flow for the day. AutoZone traded down ($0.98) for the day and closed at $729.79Specifically, insider William W. Graves sold 12,000 shares of the stock in a transaction dated Wednesday, March 1st. The shares were sold at an average price of $736.78, for a total transaction of $8,841,360.00. Following the completion of the sale, the insider now directly owns 14,667 shares in the company, valued at $10,806,352.26. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Earl G. Graves, Jr. sold 1,000 shares of the stock in a transaction dated Thursday, March 16th. The stock was sold at an average price of $714.96, for a total transaction of $714,960.00. Following the sale, the director now owns 4,431 shares of the company’s stock, valued at $3,167,987.76. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 13,660 shares of company stock valued at $10,077,581. 2.60% of the stock is currently owned by company insiders.
A number of research firms recently issued reports on AZO. Atlantic Securities began coverage on shares of AutoZone in a research note on Wednesday, December 14th. They issued a “neutral” rating and a $864.00 price target for the company. Zacks Investment Research downgraded shares of AutoZone from a “buy” rating to a “hold” rating in a research note on Tuesday, November 29th. Credit Suisse Group AG reissued a “buy” rating and issued a $814.00 price target on shares of AutoZone in a research note on Wednesday, November 23rd. Wedbush reissued an “outperform” rating on shares of AutoZone in a research note on Tuesday, January 3rd. Finally, Vetr raised shares of AutoZone from a “hold” rating to a “strong-buy” rating and set a $887.00 price target for the company in a research note on Wednesday, December 14th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $868.00.
The stock has a market capitalization of $20.78 billion, a P/E ratio of 17.12 and a beta of 0.58. The firm’s 50 day moving average is $729.40 and its 200 day moving average is $756.05.
AutoZone (NYSE:AZO) last released its quarterly earnings data on Tuesday, February 28th. The company reported $8.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $8.19 by $0.11. The company earned $2.29 billion during the quarter, compared to analysts’ expectations of $2.34 billion. AutoZone had a net margin of 11.77% and a negative return on equity of 69.22%. AutoZone’s quarterly revenue was up 1.4% on a year-over-year basis. During the same period last year, the firm earned $7.43 earnings per share. On average, analysts forecast that AutoZone, Inc. will post $45.37 EPS for the current fiscal year.
A number of large investors have recently added to or reduced their stakes in AZO. Alpha Windward LLC boosted its stake in AutoZone by 0.8% in the third quarter. Alpha Windward LLC now owns 242 shares of the company’s stock valued at $186,000 after buying an additional 2 shares during the period. Mutual of America Capital Management LLC boosted its stake in AutoZone by 0.3% in the third quarter. Mutual of America Capital Management LLC now owns 4,457 shares of the company’s stock valued at $3,424,000 after buying an additional 13 shares during the period. Summit Asset Management LLC boosted its stake in AutoZone by 0.6% in the third quarter. Summit Asset Management LLC now owns 2,093 shares of the company’s stock valued at $1,608,000 after buying an additional 13 shares during the period. Checchi Capital Advisers LLC boosted its stake in AutoZone by 3.7% in the third quarter. Checchi Capital Advisers LLC now owns 360 shares of the company’s stock valued at $277,000 after buying an additional 13 shares during the period. Finally, Stephens Inc. AR boosted its stake in AutoZone by 2.3% in the third quarter. Stephens Inc. AR now owns 794 shares of the company’s stock valued at $610,000 after buying an additional 18 shares during the period. 96.42% of the stock is owned by institutional investors.
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AutoZone Company Profile
Autozone, Inc is a retailer and distributor of automotive replacement parts and accessories in the United States. The Company operates through the Auto Parts Locations segment. The Auto Parts Locations segment is a retailer and distributor of automotive parts and accessories. As of August 27, 2016, the Company operated through 5,814 locations in the United States, Puerto Rico, Mexico and Brazil.
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