AutoZone (AZO) is Upgraded by Morgan Stanley to Overweight

AutoZone (AZO) was Upgraded by Morgan Stanley to ” Overweight”. Earlier the firm had a rating of “Equal-Weight ” on the company shares. Morgan Stanley advised their investors in a research report released on Sep 27, 2016.

Many Wall Street Analysts have commented on AutoZone. Shares were Reiterated by RBC Capital Mkts on Sep 23, 2016 to “Sector Perform” and Lowered the Price Target to $ 855 from a previous price target of $873 .UBS Upgraded AutoZone on Sep 12, 2016 to ” Buy”, Price Target of the shares are set at $825.Susquehanna Initiated AutoZone on Aug 26, 2016 to “Neutral”, Price Target of the shares are set at $810.

On the company’s financial health, AutoZone reported $14.30 EPS for the quarter, beating the analyst consensus estimate by $ 0.06 according to the earnings call on Sep 22, 2016. Analyst had a consensus of $14.24. The company had revenue of $3398.80 million for the quarter, compared to analysts expectations of $3423.82 million. The company’s revenue was up 3.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $12.75 EPS.

AutoZone closed down -3.22 points or -0.43% at $748.23 with 10,30,135 shares getting traded on Thursday. Post opening the session at $758.58, the shares hit an intraday low of $740.05 and an intraday high of $760.98 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

In a different news, on Aug 11, 2016, Thomas B Newbern (Exec. Vice President) sold 16,870 shares at $800.86 per share price. According to the SEC, on Jul 20, 2016, Earl G Jr Graves (director) sold 1,000 shares at $795.24 per share price. On Jul 11, 2016, William R. Hackney (Sr. Vice President) sold 1,450 shares at $810.60 per share price, according to the Form-4 filing with the securities and exchange commission.

AutoZone Inc. (AutoZone) is a retailer and a distributor of automotive replacement parts and accessories in the United States. The Company’s segments include Auto Parts Stores and Other. The Company’s Auto Parts Stores segment includes Domestic Auto Parts Mexico Brazil and Interamerican Motor Corporation (IMC). The Company’s Other segment includes business activities of ALLDATA E-commerce and AutoAnything. The ALLDATA produces sells and maintains diagnostic and repair information software used in the automotive repair industry. The e-commerce includes direct sales to customers through The AutoAnything includes direct sales to customers through The Company operates approximately 5069 AutoZone stores in the United States including stores in Puerto Rico Mexico Brazil and IMC branches. IMC branches carry a line of original equipment import replacement parts.


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