Traders Buy Shares of AutoZone, Inc. (AZO) on Weakness on Insider Selling

Investors purchased shares of AutoZone, Inc. (NYSE:AZO) on weakness during trading hours on Monday following insider selling activity. $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 companies 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, Director Earl G. Graves, Jr. sold 1,000 shares of the company’s stock in a transaction that occurred on Thursday, March 16th. The stock was sold at an average price of $714.96, for a total value of $714,960.00. Following the completion of the transaction, the director now directly owns 4,431 shares of the company’s stock, valued at $3,167,987.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider James C. Griffith sold 660 shares of the company’s stock in a transaction that occurred on Wednesday, January 11th. The shares were sold at an average price of $789.79, for a total value of $521,261.40. Following the completion of the transaction, the insider now directly owns 735 shares of the company’s stock, valued at $580,495.65. The disclosure for this sale can be found here. Insiders sold 13,660 shares of company stock valued at $10,077,581 over the last ninety days. 2.60% of the stock is currently owned by corporate insiders.

AZO has been the subject of a number of research reports. Atlantic Securities initiated coverage on AutoZone in a research note on Wednesday, December 14th. They issued a “neutral” rating and a $864.00 price objective for the company. Zacks Investment Research cut AutoZone from a “buy” rating to a “hold” rating in a research note on Thursday, February 9th. Wedbush reiterated an “outperform” rating on shares of AutoZone in a research note on Tuesday, January 3rd. Royal Bank of Canada boosted their price objective on AutoZone from $855.00 to $880.00 and gave the company a “sector perform” rating in a research note on Wednesday, December 7th. Finally, BTIG Research reiterated a “buy” rating and issued a $900.00 price objective on shares of AutoZone in a research note on Wednesday, February 22nd. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $868.00.

The company has a market capitalization of $20.78 billion, a price-to-earnings ratio of 17.12 and a beta of 0.58. The company has a 50 day moving average of $729.40 and a 200-day moving average of $756.05.

AutoZone (NYSE:AZO) last issued its quarterly earnings data on Tuesday, February 28th. The company reported $8.08 earnings per share for the quarter, missing analysts’ consensus estimates of $8.19 by $0.11. AutoZone had a net margin of 11.77% and a negative return on equity of 69.22%. The business had revenue of $2.29 billion for the quarter, compared to analyst estimates of $2.34 billion. During the same quarter last year, the business earned $7.43 EPS. AutoZone’s revenue for the quarter was up 1.4% compared to the same quarter last year. On average, equities analysts forecast that AutoZone, Inc. will post $45.37 EPS for the current fiscal year.

A number of large investors have recently modified their holdings of the stock. Alpha Windward LLC raised its stake in shares of AutoZone by 0.8% in the third quarter. Alpha Windward LLC now owns 242 shares of the company’s stock worth $186,000 after buying an additional 2 shares during the period. Mutual of America Capital Management LLC raised its stake in shares of AutoZone by 0.3% in the third quarter. Mutual of America Capital Management LLC now owns 4,457 shares of the company’s stock worth $3,424,000 after buying an additional 13 shares during the period. Summit Asset Management LLC raised its stake in shares of AutoZone by 0.6% in the third quarter. Summit Asset Management LLC now owns 2,093 shares of the company’s stock worth $1,608,000 after buying an additional 13 shares during the period. Checchi Capital Advisers LLC raised its stake in shares of AutoZone by 3.7% in the third quarter. Checchi Capital Advisers LLC now owns 360 shares of the company’s stock worth $277,000 after buying an additional 13 shares during the period. Finally, Stephens Inc. AR raised its stake in shares of AutoZone by 2.3% in the third quarter. Stephens Inc. AR now owns 794 shares of the company’s stock worth $610,000 after buying an additional 18 shares during the period. Hedge funds and other institutional investors own 96.42% of the company’s stock.

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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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