AutoZone (NYSE:AZO) Hits New 12-Month High - What's Next?

AutoZone, Inc. (NYSE:AZO - Get Free Report)'s share price hit a new 52-week high on Thursday . The company traded as high as $3,788.10 and last traded at $3,776.69, with a volume of 41456 shares. The stock had previously closed at $3,681.68.

Wall Street Analyst Weigh In

AZO has been the subject of a number of analyst reports. Argus lowered AutoZone from a "buy" rating to a "hold" rating in a research report on Wednesday, March 5th. Morgan Stanley boosted their price target on shares of AutoZone from $3,490.00 to $3,750.00 and gave the company an "overweight" rating in a report on Wednesday, March 5th. Bank of America upped their price target on shares of AutoZone from $3,600.00 to $3,700.00 and gave the stock a "neutral" rating in a research report on Wednesday, March 5th. Evercore ISI lifted their price objective on shares of AutoZone from $3,525.00 to $3,700.00 and gave the company an "outperform" rating in a research report on Wednesday, March 5th. Finally, BMO Capital Markets upped their target price on shares of AutoZone from $3,700.00 to $3,850.00 and gave the stock an "outperform" rating in a research report on Wednesday, March 5th. One analyst has rated the stock with a sell rating, four have issued a hold rating, sixteen have assigned a buy rating and four have assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $3,683.36.

AutoZone Trading Up 1.0 %

The firm has a market capitalization of $63.93 billion, a P/E ratio of 25.45, a P/E/G ratio of 1.86 and a beta of 0.71. The business's fifty day moving average is $3,483.80 and its 200 day moving average is $3,280.69.

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AutoZone (NYSE:AZO - Get Free Report) last posted its quarterly earnings results on Tuesday, March 4th. The company reported $28.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $29.11 by ($0.82). The company had revenue of $3.95 billion during the quarter, compared to the consensus estimate of $3.98 billion. AutoZone had a net margin of 14.18% and a negative return on equity of 53.89%. As a group, sell-side analysts predict that AutoZone, Inc. will post 152.94 earnings per share for the current fiscal year.

Insider Activity

In other news, VP Dennis W. Leriche sold 1,575 shares of the business's stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $3,600.00, for a total transaction of $5,670,000.00. Following the sale, the vice president now owns 417 shares in the company, valued at $1,501,200. The trade was a 79.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Bailey L. Childress sold 160 shares of the company's stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $3,550.00, for a total transaction of $568,000.00. Following the completion of the sale, the senior vice president now owns 50 shares of the company's stock, valued at approximately $177,500. This trade represents a 76.19 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 6,721 shares of company stock valued at $24,609,331 over the last three months. Insiders own 2.10% of the company's stock.

Institutional Trading of AutoZone

Several large investors have recently added to or reduced their stakes in AZO. Proficio Capital Partners LLC grew its holdings in shares of AutoZone by 482,040.2% during the fourth quarter. Proficio Capital Partners LLC now owns 419,462 shares of the company's stock valued at $1,343,117,000 after buying an additional 419,375 shares in the last quarter. Norges Bank acquired a new stake in AutoZone during the 4th quarter worth about $834,556,000. Strategic Financial Concepts LLC purchased a new position in AutoZone during the 4th quarter valued at about $471,629,000. Wealthfront Advisers LLC increased its holdings in shares of AutoZone by 6,083.9% in the 4th quarter. Wealthfront Advisers LLC now owns 90,656 shares of the company's stock valued at $290,281,000 after purchasing an additional 89,190 shares during the period. Finally, Barclays PLC increased its holdings in shares of AutoZone by 82.6% in the 4th quarter. Barclays PLC now owns 170,216 shares of the company's stock valued at $545,033,000 after purchasing an additional 77,015 shares during the period. 92.74% of the stock is owned by institutional investors and hedge funds.

AutoZone Company Profile

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.