AutoZone, Inc. (NYSE:AZO) Shares Sold by Resonant Capital Advisors LLC

Resonant Capital Advisors LLC reduced its position in shares of AutoZone, Inc. (NYSE:AZO) by 0.8% during the fourth quarter, Holdings Channel.com reports. The fund owned 1,319 shares of the company’s stock after selling 11 shares during the quarter. Resonant Capital Advisors LLC’s holdings in AutoZone were worth $4,223,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of AZO. Capital Performance Advisors LLP acquired a new position in shares of AutoZone in the 3rd quarter valued at $36,000. Carolina Wealth Advisors LLC acquired a new position in shares of AutoZone in the 3rd quarter valued at $47,000. Darwin Wealth Management LLC acquired a new position in shares of AutoZone in the 3rd quarter valued at $47,000. Crews Bank & Trust acquired a new position in shares of AutoZone in the 4th quarter valued at $61,000. Finally, McIlrath & Eck LLC boosted its position in shares of AutoZone by 25.0% in the 3rd quarter. McIlrath & Eck LLC now owns 20 shares of the company’s stock valued at $63,000 after purchasing an additional 4 shares during the period. 92.74% of the stock is owned by institutional investors and hedge funds.

AutoZone Stock Performance

Shares of AZO stock opened at $3,354.35 on Monday. The stock’s 50 day simple moving average is $3,263.25 and its 200 day simple moving average is $3,166.16. AutoZone, Inc. has a twelve month low of $2,672.31 and a twelve month high of $3,437.63. The company has a market capitalization of $56.29 billion, a price-to-earnings ratio of 22.41, a PEG ratio of 1.85 and a beta of 0.70.

AutoZone (NYSE:AZO) last issued its quarterly earnings data on Tuesday, December 10th. The company reported $32.52 earnings per share for the quarter, missing analysts’ consensus estimates of $33.69 by ($1.17). AutoZone had a net margin of 14.18% and a negative return on equity of 53.89%. The company had revenue of $4.28 billion during the quarter, compared to the consensus estimate of $4.30 billion. During the same period in the previous year, the business posted $32.55 earnings per share. The firm’s revenue was up 2.1% on a year-over-year basis. On average, analysts forecast that AutoZone, Inc. will post 152.94 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently weighed in on AZO. Guggenheim increased their price target on AutoZone from $3,350.00 to $3,750.00 and gave the company a “buy” rating in a research report on Wednesday, December 11th. BMO Capital Markets began coverage on AutoZone in a research report on Friday, December 13th. They set an “outperform” rating and a $3,700.00 price objective for the company. Roth Capital upgraded AutoZone to a “strong-buy” rating in a research report on Tuesday, October 15th. Mizuho raised their price objective on AutoZone from $3,350.00 to $3,600.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 11th. Finally, Wells Fargo & Company raised their price objective on AutoZone from $3,450.00 to $3,750.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 11th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, sixteen have given a buy rating and three have given a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $3,429.84.

About AutoZone

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.