Breaking: AutoZone (NYSE:AZO) Buy Rating Reaffirmed by Credit Suisse Today; The Price Target is Set to $640.0

January 23, 2018 - By Marguerite Chambers

 Breaking: AutoZone (NYSE:AZO) Buy Rating Reaffirmed by Credit Suisse Today; The Price Target is Set to $640.0

Investors sentiment increased to 1.05 in 2017 Q3. Its up 0.20, from 0.85 in 2017Q2. It is positive, as 59 investors sold AutoZone, Inc. shares while 150 reduced holdings. 74 funds opened positions while 145 raised stakes. 26.58 million shares or 0.11% less from 26.61 million shares in 2017Q2 were reported.

Invesco Ltd has invested 0.08% of its portfolio in AutoZone, Inc. (NYSE:AZO). Pinebridge L P, New York-based fund reported 578 shares. Huntington Comml Bank invested in 0% or 426 shares. Chilton Invest Ltd Company holds 429 shares or 0.01% of its portfolio. Coastline Tru Company holds 0.23% in AutoZone, Inc. (NYSE:AZO) or 2,210 shares. Clearbridge Limited Co has 129,150 shares. 15,270 are held by Bnp Paribas Arbitrage. Wells Fargo & Mn holds 43,493 shares or 0.01% of its portfolio. Cibc Asset Inc owns 3,958 shares or 0.01% of their US portfolio. New Mexico Educational Retirement Board holds 0.07% or 2,609 shares. Suntrust Banks has 616 shares for 0% of their portfolio. Moreover, Highbridge Capital Mgmt Limited Co has 0.07% invested in AutoZone, Inc. (NYSE:AZO) for 8,000 shares. Ameritas Prtn invested 0.02% of its portfolio in AutoZone, Inc. (NYSE:AZO). West Oak Cap Llc has invested 0% in AutoZone, Inc. (NYSE:AZO). Bluecrest Ltd accumulated 0.11% or 4,710 shares.

Since September 28, 2017, it had 0 insider purchases, and 5 selling transactions for $13.42 million activity. 10,500 shares valued at $7.82 million were sold by Graves William W on Wednesday, January 3. MCKENNA WILLIAM ANDREW had sold 3,000 shares worth $1.75 million. The insider Daniele Philip B. sold $577,472. $2.05 million worth of AutoZone, Inc. (NYSE:AZO) was sold by Smith Richard Craig on Thursday, January 4.

AutoZone (NYSE:AZO) Rating Reaffirmed

AutoZone (NYSE:AZO) just had their share rating of a ‘Buy’ issued by research analysts at Credit Suisse, who now has a $640.0 PT on the $21.43B market cap company or a -18.29 % downside potential. This key information was revealed to investors in an analyst note on Wednesday, 1 November.

Investors sentiment increased to 1.05 in 2017 Q3. Its up 0.20, from 0.85 in 2017Q2. It is positive, as 59 investors sold AutoZone, Inc. shares while 150 reduced holdings. 74 funds opened positions while 145 raised stakes. 26.58 million shares or 0.11% less from 26.61 million shares in 2017Q2 were reported.

Invesco Ltd has invested 0.08% of its portfolio in AutoZone, Inc. (NYSE:AZO). Pinebridge L P, New York-based fund reported 578 shares. Huntington Comml Bank invested in 0% or 426 shares. Chilton Invest Ltd Company holds 429 shares or 0.01% of its portfolio. Coastline Tru Company holds 0.23% in AutoZone, Inc. (NYSE:AZO) or 2,210 shares. Clearbridge Limited Co has 129,150 shares. 15,270 are held by Bnp Paribas Arbitrage. Wells Fargo & Mn holds 43,493 shares or 0.01% of its portfolio. Cibc Asset Inc owns 3,958 shares or 0.01% of their US portfolio. New Mexico Educational Retirement Board holds 0.07% or 2,609 shares. Suntrust Banks has 616 shares for 0% of their portfolio. Moreover, Highbridge Capital Mgmt Limited Co has 0.07% invested in AutoZone, Inc. (NYSE:AZO) for 8,000 shares. Ameritas Prtn invested 0.02% of its portfolio in AutoZone, Inc. (NYSE:AZO). West Oak Cap Llc has invested 0% in AutoZone, Inc. (NYSE:AZO). Bluecrest Ltd accumulated 0.11% or 4,710 shares.

Since September 28, 2017, it had 0 insider purchases, and 5 selling transactions for $13.42 million activity. 10,500 shares valued at $7.82 million were sold by Graves William W on Wednesday, January 3. MCKENNA WILLIAM ANDREW had sold 3,000 shares worth $1.75 million. The insider Daniele Philip B. sold $577,472. $2.05 million worth of AutoZone, Inc. (NYSE:AZO) was sold by Smith Richard Craig on Thursday, January 4.

AutoZone, Inc. (NYSE:AZO) Ratings Coverage

Among 23 analysts covering Autozone Inc. (NYSE:AZO), 11 have Buy rating, 0 Sell and 12 Hold. Therefore 48% are positive. Autozone Inc. has $900 highest and $571.0 lowest target. $733.24’s average target is -6.39% below currents $783.265 stock price. Autozone Inc. had 68 analyst reports since August 24, 2015 according to SRatingsIntel. The stock of AutoZone, Inc. (NYSE:AZO) earned “Buy” rating by Gabelli on Friday, April 15. Credit Suisse maintained AutoZone, Inc. (NYSE:AZO) on Wednesday, November 1 with “Buy” rating. On Thursday, May 25 the stock rating was upgraded by ValuEngine to “Buy”. The stock has “Buy” rating by Citigroup on Tuesday, August 25. The firm earned “Neutral” rating on Friday, August 26 by Susquehanna. Credit Suisse maintained AutoZone, Inc. (NYSE:AZO) rating on Wednesday, March 2. Credit Suisse has “Outperform” rating and $870 target. The firm earned “Buy” rating on Thursday, July 20 by Oppenheimer. The rating was maintained by Deutsche Bank on Wednesday, December 7 with “Hold”. Wedbush maintained AutoZone, Inc. (NYSE:AZO) rating on Wednesday, September 20. Wedbush has “Hold” rating and $580.0 target. Wedbush upgraded AutoZone, Inc. (NYSE:AZO) on Tuesday, February 16 to “Outperform” rating.

The stock decreased 0.69% or $5.435 during the last trading session, reaching $783.265. About 191,284 shares traded. AutoZone, Inc. (NYSE:AZO) has declined 10.95% since January 23, 2017 and is downtrending. It has underperformed by 27.65% the S&P500.

Analysts await AutoZone, Inc. (NYSE:AZO) to report earnings on February, 27. They expect $8.40 EPS, up 3.96 % or $0.32 from last year’s $8.08 per share. AZO’s profit will be $229.77M for 23.31 P/E if the $8.40 EPS becomes a reality. After $9.96 actual EPS reported by AutoZone, Inc. for the previous quarter, Wall Street now forecasts -15.66 % negative EPS growth.

AutoZone, Inc. retails and distributes automotive replacement parts and accessories. The company has market cap of $21.43 billion. It 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. It has a 17.49 P/E ratio. The company??s 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, thermostats, starters and alternators, and water pumps.

More notable recent AutoZone, Inc. (NYSE:AZO) news were published by: Gurufocus.com which released: “Midas Management Corp Buys AutoZone Inc, Altria Group Inc, Walgreens Boots …” on January 23, 2018, also Seekingalpha.com with their article: “5 Reasons AutoZone May Make An Amazing Short” published on January 09, 2018, Seekingalpha.com published: “AutoZone Is Ready To Go Higher” on January 17, 2018. More interesting news about AutoZone, Inc. (NYSE:AZO) were released by: Nasdaq.com and their article: “Agree To Buy AutoZone At $710, Earn 6.9% Annualized Using Options” published on January 22, 2018 as well as Seekingalpha.com‘s news article titled: “AutoZone Is Going To $800 This Year” with publication date: January 02, 2018.

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