Avantax Advisory Services Inc. Purchases 56 Shares of AutoZone, Inc. (NYSE:AZO)

Avantax Advisory Services Inc. boosted its position in AutoZone, Inc. (NYSE:AZO) by 2.3% during the fourth quarter, Holdings Channel.com reports. The fund owned 2,443 shares of the company’s stock after acquiring an additional 56 shares during the period. Avantax Advisory Services Inc.’s holdings in AutoZone were worth $7,824,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Darwin Wealth Management LLC bought a new stake in AutoZone in the 3rd quarter worth $47,000. Crews Bank & Trust bought a new stake in AutoZone in the 4th quarter worth $61,000. McIlrath & Eck LLC lifted 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 worth $63,000 after purchasing an additional 4 shares during the period. Whipplewood Advisors LLC purchased a new stake in shares of AutoZone in the 4th quarter worth about $67,000. Finally, Providence First Trust Co purchased a new stake in shares of AutoZone in the 4th quarter worth about $80,000. Institutional investors own 92.74% of the company’s stock.

AutoZone Stock Performance

Shares of AutoZone stock opened at $3,538.59 on Friday. The stock has a market capitalization of $59.38 billion, a PE ratio of 23.64, a price-to-earnings-growth ratio of 1.86 and a beta of 0.71. AutoZone, Inc. has a 52-week low of $2,728.97 and a 52-week high of $3,704.43. The company has a 50-day simple moving average of $3,395.79 and a two-hundred day simple moving average of $3,240.97.

AutoZone (NYSE:AZO) last issued its 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 firm had revenue of $3.95 billion during the quarter, compared to analysts’ expectations of $3.98 billion. AutoZone had a negative return on equity of 53.89% and a net margin of 14.18%. As a group, equities research analysts forecast that AutoZone, Inc. will post 152.94 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently commented on AZO. DA Davidson raised their target price on shares of AutoZone from $3,350.00 to $3,500.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 5th. Bank of America raised their target price 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. Roth Capital set a $3,763.00 target price on shares of AutoZone in a research report on Wednesday, March 5th. UBS Group raised their target price on shares of AutoZone from $3,875.00 to $4,025.00 and gave the stock a “buy” rating in a research report on Wednesday, March 5th. Finally, BMO Capital Markets raised 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 research analyst has rated the stock with a sell rating, five have assigned a hold rating, fifteen have issued a buy rating and four have given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $3,651.91.

Insider Transactions at AutoZone

In related news, SVP K. Michelle Borninkhof sold 136 shares of the business’s stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $3,550.08, for a total transaction of $482,810.88. Following the completion of the sale, the senior vice president now directly owns 403 shares in the company, valued at approximately $1,430,682.24. The trade was a 25.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Bailey L. Childress sold 160 shares of the business’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 sale, the senior vice president now owns 50 shares of the company’s stock, valued at $177,500. This trade represents a 76.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,871 shares of company stock worth $6,720,811 over the last three months. 2.10% of the stock is currently owned by company insiders.

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.