AutoZone, Inc. $AZO Stock: First Financial Corp IN Boosts Position

First Financial Corp IN grew its holdings in AutoZone, Inc. (NYSE:AZO – Free Report) by 3,033.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 188 shares of the company’s stock after purchasing an additional 182 shares during the period. First Financial Corp IN’s holdings in AutoZone were worth $532,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Edmond DE Rothschild Holding S.A. bought a new position in AutoZone in the 2nd quarter worth approximately $29,000. Bard Associates Inc. bought a new stake in AutoZone during the 4th quarter valued at $31,000. Burkett Financial Services LLC bought a new stake in AutoZone during the 3rd quarter valued at $31,000. Tacita Capital Inc bought a new stake in AutoZone during the 2nd quarter valued at $32,000. Finally, Asset Dedication LLC lifted its position in shares of AutoZone by 150.0% during the first quarter. Asset Dedication LLC now owns 10 shares of the company’s stock worth $34,000 after acquiring an additional 6 shares in the last quarter. 92.74% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

AZO has been the subject of a number of analyst reports. Citigroup cut their price target on AutoZone from $3,700.00 to $3,450.00 and set a “buy” rating for the company in a report on Monday, September 14th. Mizuho dropped their price objective on AutoZone from $3,200.00 to $3,000.00 and set a “neutral” rating on the stock in a report on Wednesday, September 23rd. Evercore reaffirmed an “outperform” rating on shares of AutoZone in a report on Wednesday, September 23rd. Robert W. Baird decreased their price target on AutoZone from $3,600.00 to $3,400.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 23rd. Finally, Piper Sandler set a $3,500.00 price target on shares of AutoZone in a report on Monday, August 31st. Two analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat, AutoZone currently has a consensus rating of “Moderate Buy” and a consensus target price of $3,669.12.

View Our Latest Report on AZO

AutoZone Stock Down 0.2%

Shares of AZO stock traded down $7.05 on Tuesday, reaching $2,891.80. The company’s stock had a trading volume of 159,097 shares, compared to its average volume of 263,313. AutoZone, Inc. has a 12-month low of $2,730.65 and a 12-month high of $4,113.44. The company has a market capitalization of $47.22 billion, a P/E ratio of 18.93, a PEG ratio of 1.37 and a beta of 0.40. The stock’s 50 day simple moving average is $2,940.79 and its 200-day simple moving average is $3,136.94.

AutoZone (NYSE:AZO – Get Free Report) last posted its earnings results on Tuesday, September 22nd. The company reported $56.05 EPS for the quarter, topping the consensus estimate of $0.54 by $55.51. AutoZone had a negative return on equity of 90.08% and a net margin of 12.65%. The business had revenue of $6.59 billion during the quarter, compared to analysts’ expectations of $6.70 billion. During the same period in the previous year, the business earned $48.71 earnings per share. The firm’s revenue was up 5.6% on a year-over-year basis. Research analysts expect that AutoZone, Inc. will post 171.50 EPS for the current year.

AutoZone announced that its Board of Directors has authorized a share repurchase plan on Tuesday, June 16th that authorizes the company to buy back $1.50 billion in shares. This repurchase authorization authorizes the company to repurchase up to 3% of its shares through open market purchases. Share repurchase plans are usually an indication that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling at AutoZone

In other AutoZone news, VP Dennis LeRiche sold 1,455 shares of the firm’s stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $3,100.00, for a total value of $4,510,500.00. Following the sale, the vice president owned 441 shares of the company’s stock, valued at $1,367,100. This trade represents a 76.74% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 2.60% of the stock is currently owned by insiders.

About AutoZone

(Free Report)

AutoZone, Inc is a specialty retailer of automotive replacement parts, accessories and maintenance products. The company serves do-it-yourself customers as well as professional automotive repair shops, offering products such as batteries, brakes, filters, engine components, tools, fluids and other vehicle parts.

In addition to its retail stores, AutoZone provides commercial sales and delivery services for professional repair businesses. The company also operates ALLDATA, which offers automotive diagnostic, repair and shop-management software and information services to repair professionals.

Founded in 1979 and headquartered in Memphis, Tennessee, AutoZone operates primarily in the United States, with additional stores and operations in Mexico and Brazil.

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