Insider Selling: AutoZone, Inc. (NYSE:AZO) VP Sells 1,575 Shares of Stock

AutoZone, Inc. (NYSE:AZO) VP Dennis W. Leriche sold 1,575 shares of the business’s stock in a transaction on Friday, March 7th. The shares were sold at an average price of $3,600.00, for a total transaction of $5,670,000.00. Following the completion of the sale, the vice president now directly owns 417 shares in the company, valued at $1,501,200. This represents a 79.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

AutoZone Trading Down 3.5 %

AZO stock traded down $128.17 during mid-day trading on Tuesday, hitting $3,561.95. 208,078 shares of the company were exchanged, compared to its average volume of 127,408. AutoZone, Inc. has a 1-year low of $2,728.97 and a 1-year high of $3,704.43. The stock has a market capitalization of $59.78 billion, a PE ratio of 23.80, a price-to-earnings-growth ratio of 1.86 and a beta of 0.71. The business has a 50 day simple moving average of $3,375.95 and a 200-day simple moving average of $3,233.66.

AutoZone (NYSE:AZO) last issued its quarterly earnings data on Tuesday, March 4th. The company reported $28.29 EPS for the quarter, missing analysts’ consensus estimates of $29.11 by ($0.82). AutoZone had a net margin of 14.18% and a negative return on equity of 53.89%. The firm had revenue of $3.95 billion during the quarter, compared to analyst estimates of $3.98 billion. Equities research analysts expect that AutoZone, Inc. will post 152.94 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on AZO. Citigroup boosted their price target on AutoZone from $3,500.00 to $3,900.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. Evercore ISI boosted their target price on AutoZone from $3,525.00 to $3,700.00 and gave the company an “outperform” rating in a research note on Wednesday, March 5th. Truist Financial raised their price target on shares of AutoZone from $3,753.00 to $3,841.00 and gave the stock a “buy” rating in a research note on Wednesday, March 5th. Guggenheim increased their target price on shares of AutoZone from $3,750.00 to $3,850.00 and gave the stock a “buy” rating in a report on Wednesday, March 5th. Finally, UBS Group raised their target price on shares of AutoZone from $3,875.00 to $4,025.00 and gave the company a “buy” rating in a research report on Wednesday, March 5th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, fifteen have issued a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $3,651.91.

Hedge Funds Weigh In On AutoZone

A number of hedge funds have recently bought and sold shares of the business. Headlands Technologies LLC bought a new position in shares of AutoZone during the fourth quarter worth approximately $29,000. Flagship Wealth Advisors LLC acquired a new stake in AutoZone during the fourth quarter worth approximately $32,000. Harbour Investments Inc. increased its stake in AutoZone by 42.9% during the 4th quarter. Harbour Investments Inc. now owns 10 shares of the company’s stock worth $32,000 after acquiring an additional 3 shares during the period. Capital Performance Advisors LLP acquired a new position in AutoZone in the 3rd quarter valued at $36,000. Finally, Minot DeBlois Advisors LLC bought a new stake in shares of AutoZone during the 4th quarter valued at $45,000. 92.74% of the stock is owned by institutional investors.

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.