Jamere Jackson Buys 55 Shares of AutoZone (NYSE:AZO) Stock

by · The Cerbat Gem

AutoZone, Inc. (NYSE:AZO – Get Free Report) CFO Jamere Jackson bought 55 shares of the company’s stock in a transaction on Wednesday, December 10th. The stock was bought at an average cost of $3,413.50 per share, with a total value of $187,742.50. Following the completion of the acquisition, the chief financial officer owned 488 shares of the company’s stock, valued at $1,665,788. This represents a 12.70% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link.

AutoZone Price Performance

Shares of NYSE:AZO opened at $3,440.41 on Friday. The firm has a market capitalization of $57.21 billion, a price-to-earnings ratio of 23.99, a price-to-earnings-growth ratio of 1.63 and a beta of 0.40. The business’s 50 day simple moving average is $3,838.77 and its 200-day simple moving average is $3,894.94. AutoZone, Inc. has a 12 month low of $3,162.00 and a 12 month high of $4,388.11.

AutoZone (NYSE:AZO – Get Free Report) last issued its quarterly earnings data on Tuesday, December 9th. The company reported $31.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $32.69 by ($1.65). The firm had revenue of $4.63 billion for the quarter, compared to analyst estimates of $4.64 billion. AutoZone had a negative return on equity of 65.38% and a net margin of 12.78%.The business’s revenue for the quarter was up 8.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $32.52 earnings per share. On average, equities analysts anticipate that AutoZone, Inc. will post 152.94 earnings per share for the current year.

AutoZone declared that its board has initiated a stock repurchase program on Wednesday, October 8th that permits the company to buyback $0.00 in shares. This buyback authorization permits the company to reacquire shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s leadership believes its stock is undervalued.

Institutional Trading of AutoZone

A number of hedge funds have recently bought and sold shares of AZO. Flputnam Investment Management Co. lifted its stake in shares of 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% in the second quarter. McLean Asset Management Corp now owns 87 shares of the company’s stock valued at $320,000 after purchasing an additional 3 shares during the period. NBC Securities Inc. increased its stake in AutoZone by 0.9% in the second quarter. NBC Securities Inc. now owns 347 shares of the company’s stock valued at $1,288,000 after purchasing an additional 3 shares during the last quarter. Valeo Financial Advisors LLC lifted its position in AutoZone by 4.3% during the second quarter. Valeo Financial Advisors LLC now owns 72 shares of the company’s stock worth $267,000 after buying an additional 3 shares during the period. Finally, Ritholtz Wealth Management lifted its position in AutoZone by 0.3% during the second quarter. Ritholtz Wealth Management now owns 1,179 shares of the company’s stock worth $4,377,000 after buying an additional 3 shares during the period. Institutional investors and hedge funds own 92.74% of the company’s stock.

Wall Street Analysts Forecast Growth

AZO has been the topic of a number of research reports. Morgan Stanley increased their price objective on shares of AutoZone from $4,000.00 to $4,700.00 and gave the company an “overweight” rating in a research note on Wednesday, September 24th. UBS Group reduced their price target on shares of AutoZone from $4,800.00 to $4,325.00 and set a “buy” rating on the stock in a report on Wednesday. DA Davidson dropped their price objective on shares of AutoZone from $4,850.00 to $4,500.00 and set a “buy” rating for the company in a research note on Wednesday. Evercore ISI restated an “outperform” rating and set a $4,100.00 price objective on shares of AutoZone in a research report on Wednesday. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of AutoZone in a research note on Monday, December 8th. Two research analysts have rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $4,365.35.

Check Out Our Latest Report on AZO

AutoZone Company Profile

(Get Free Report)

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.

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