Rappaport Reiches Capital Management LLC Makes New Investment in AutoZone, Inc. (NYSE:AZO)

Rappaport Reiches Capital Management LLC purchased a new stake in shares of AutoZone, Inc. (NYSE:AZO) during the 4th quarter, Holdings Channel.com reports. The fund purchased 63 shares of the company’s stock, valued at approximately $202,000.

A number of other hedge funds have also modified their holdings of AZO. Petredis Investment Advisors LLC lifted its stake in shares of AutoZone by 0.6% during the 3rd quarter. Petredis Investment Advisors LLC now owns 710 shares of the company’s stock valued at $2,237,000 after buying an additional 4 shares in the last quarter. IVC Wealth Advisors LLC lifted its position in shares of AutoZone by 4.4% in the third quarter. IVC Wealth Advisors LLC now owns 95 shares of the company’s stock valued at $299,000 after acquiring an additional 4 shares in the last quarter. Allworth Financial LP lifted its position in shares of AutoZone by 5.0% in the third quarter. Allworth Financial LP now owns 84 shares of the company’s stock valued at $265,000 after acquiring an additional 4 shares in the last quarter. Axxcess Wealth Management LLC boosted its stake in shares of AutoZone by 1.5% in the third quarter. Axxcess Wealth Management LLC now owns 267 shares of the company’s stock worth $841,000 after acquiring an additional 4 shares during the period. Finally, Moors & Cabot Inc. grew its position in shares of AutoZone by 4.2% during the third quarter. Moors & Cabot Inc. now owns 99 shares of the company’s stock worth $312,000 after purchasing an additional 4 shares in the last quarter. 92.74% of the stock is currently owned by institutional investors.

AutoZone Trading Up 1.4 %

Shares of AZO opened at $3,371.06 on Friday. The company’s fifty day simple moving average is $3,229.64 and its 200-day simple moving average is $3,144.01. The company has a market cap of $56.57 billion, a P/E ratio of 22.52, a P/E/G ratio of 1.84 and a beta of 0.71. AutoZone, Inc. has a twelve month low of $2,672.31 and a twelve month high of $3,416.71.

AutoZone (NYSE:AZO) last posted 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 negative return on equity of 53.89% and a net margin of 14.18%. The firm had revenue of $4.28 billion during the quarter, compared to analysts’ expectations of $4.30 billion. During the same period last year, the company earned $32.55 earnings per share. The business’s revenue for the quarter was up 2.1% compared to the same quarter last year. Analysts predict that AutoZone, Inc. will post 152.94 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on AZO shares. DA Davidson reissued a “neutral” rating and issued a $3,025.00 price target on shares of AutoZone in a report on Monday, September 30th. Mizuho boosted their target price on shares of AutoZone from $3,350.00 to $3,600.00 and gave the stock an “outperform” rating in a report on Wednesday, December 11th. BMO Capital Markets initiated coverage on shares of AutoZone in a research note on Friday, December 13th. They set an “outperform” rating and a $3,700.00 target price for the company. Citigroup boosted their price target on shares of AutoZone from $3,500.00 to $3,900.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. Finally, The Goldman Sachs Group lowered AutoZone from a “buy” rating to a “sell” rating and cut their price objective for the company from $3,205.00 to $2,917.00 in a research report on Monday, October 14th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, sixteen have given a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $3,429.84.

AutoZone Profile

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.