AutoZone, Inc. (NYSE:AZO) Director Earl G. Graves, Jr. Sells 500 Shares

AutoZone, Inc. (NYSE:AZO) Director Earl G. Graves, Jr. sold 500 shares of AutoZone stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $1,077.04, for a total value of $538,520.00. Following the sale, the director now directly owns 4,607 shares in the company, valued at approximately $4,961,923.28. The sale was disclosed in a legal filing with the SEC, which is available through this link.

Shares of AZO traded up $8.20 during midday trading on Friday, reaching $1,091.74. The stock had a trading volume of 262,081 shares, compared to its average volume of 287,801. The firm’s 50 day moving average price is $1,125.97 and its 200-day moving average price is $1,033.93. The company has a market capitalization of $26.52 billion, a P/E ratio of 21.69, a P/E/G ratio of 1.42 and a beta of 0.65. AutoZone, Inc. has a 52 week low of $705.01 and a 52 week high of $1,186.60.

AutoZone (NYSE:AZO) last announced its earnings results on Tuesday, May 21st. The company reported $15.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $15.23 by $0.76. The company had revenue of $2.78 billion for the quarter, compared to analyst estimates of $2.77 billion. AutoZone had a negative return on equity of 97.19% and a net margin of 12.70%. AutoZone’s revenue for the quarter was up 4.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $13.42 earnings per share. Sell-side analysts expect that AutoZone, Inc. will post 62.51 earnings per share for the current year.

A number of analysts have recently commented on the company. ValuEngine downgraded AutoZone from a “buy” rating to a “hold” rating in a research note on Tuesday, August 6th. CIBC raised AutoZone from a “market perform” rating to an “outperform” rating in a research note on Friday, June 28th. Goldman Sachs Group assumed coverage on AutoZone in a research note on Thursday, July 11th. They issued a “neutral” rating and a $1,183.00 price objective on the stock. Zacks Investment Research raised AutoZone from a “hold” rating to a “buy” rating and set a $1,156.00 price objective on the stock in a research note on Friday, June 7th. Finally, Oppenheimer raised AutoZone from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $900.00 to $1,225.00 in a research note on Friday, June 28th. Five research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $1,061.25.

Institutional investors have recently made changes to their positions in the company. Coastal Investment Advisors Inc. acquired a new stake in shares of AutoZone during the second quarter worth $26,000. Meridian Wealth Management LLC acquired a new stake in shares of AutoZone during the first quarter worth $26,000. Virtus ETF Advisers LLC acquired a new stake in shares of AutoZone during the second quarter worth $27,000. Redhawk Wealth Advisors Inc. acquired a new stake in shares of AutoZone during the second quarter worth $31,000. Finally, Legacy Bridge LLC acquired a new stake in shares of AutoZone during the first quarter worth $38,000. 95.92% of the stock is currently owned by institutional investors.

About AutoZone

AutoZone, Inc retails and distributes automotive replacement parts and accessories. The company offers 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. Its products include A/C compressors, batteries and accessories, bearings, belts and hoses, calipers, carburetors, chassis, clutches, CV axles, engines, fuel pumps, fuses, ignition and lighting products, mufflers, radiators, starters and alternators, thermostats, and water pumps.

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