Rep. Rick W. Allen Buys AutoZone, Inc. (NYSE:AZO) Stock

Representative Rick W. Allen (R-Georgia) recently bought shares of AutoZone, Inc. (NYSE:AZO). In a filing disclosed on February 20th, the Representative disclosed that they had bought between $15,001 and $50,000 in AutoZone stock on January 17th. The trade occurred in the Representative’s “R.W. ALLEN & ASSOCIATES, INC. > RWA&A – SECURITIES” account.

Representative Rick W. Allen also recently made the following trade(s):

• Purchased $15,001 – $50,000 in shares of Rollins (NYSE:ROL) on 12/12/2024.

AutoZone Stock Performance

Shares of AZO opened at $3,366.15 on Friday. The stock has a market capitalization of $56.49 billion, a price-to-earnings ratio of 22.49, a PEG ratio of 1.88 and a beta of 0.70. AutoZone, Inc. has a 52 week low of $2,708.09 and a 52 week high of $3,484.42. The stock has a fifty day moving average of $3,321.62 and a 200-day moving average of $3,206.32.

AutoZone (NYSE:AZO) last issued its earnings results on Tuesday, December 10th. The company reported $32.52 EPS for the quarter, missing the consensus estimate of $33.69 by ($1.17). The firm had revenue of $4.28 billion during the quarter, compared to analyst estimates of $4.30 billion. AutoZone had a net margin of 14.18% and a negative return on equity of 53.89%. The business’s quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $32.55 earnings per share. As a group, equities analysts forecast that AutoZone, Inc. will post 152.94 EPS for the current year.

Institutional Investors Weigh In On AutoZone

Hedge funds and other institutional investors have recently bought and sold shares of the business. International Assets Investment Management LLC grew its position in shares of AutoZone by 354,692.5% during the 3rd quarter. International Assets Investment Management LLC now owns 993,419 shares of the company’s stock valued at $31,293,100,000 after purchasing an additional 993,139 shares in the last quarter. Proficio Capital Partners LLC raised its stake in shares of AutoZone by 482,040.2% during the fourth quarter. Proficio Capital Partners LLC now owns 419,462 shares of the company’s stock valued at $1,343,117,000 after acquiring an additional 419,375 shares during the last quarter. Norges Bank bought a new position in AutoZone in the fourth quarter worth about $834,556,000. Strategic Financial Concepts LLC bought a new position in shares of AutoZone during the fourth quarter valued at approximately $471,629,000. Finally, Wealthfront Advisers LLC increased its position in shares of AutoZone by 6,083.9% during the fourth quarter. Wealthfront Advisers LLC now owns 90,656 shares of the company’s stock valued at $290,281,000 after acquiring an additional 89,190 shares in the last quarter. Institutional investors own 92.74% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on AZO. Argus boosted their target price on AutoZone from $3,560.00 to $3,678.00 and gave the stock a “buy” rating in a research note on Thursday, January 2nd. BMO Capital Markets began coverage on AutoZone in a research note on Friday, December 13th. They issued an “outperform” rating and a $3,700.00 target price on the stock. Wells Fargo & Company boosted their target price on AutoZone from $3,450.00 to $3,750.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 11th. Truist Financial boosted their target price on AutoZone from $3,501.00 to $3,753.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. Finally, Barclays boosted their target price on AutoZone from $3,024.00 to $3,585.00 and gave the stock an “overweight” rating in a research note on Thursday, January 9th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, sixteen have issued a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat, AutoZone currently has an average rating of “Moderate Buy” and a consensus target price of $3,429.84.

About Representative Allen

Rick Allen (Republican Party) is a member of the U.S. House, representing Georgia’s 12th Congressional District. He assumed office on January 3, 2015. His current term ends on January 3, 2027.

Allen (Republican Party) ran for re-election to the U.S. House to represent Georgia’s 12th Congressional District. He won in the general election on November 5, 2024.

Allen was born in Augusta, Georgia, in 1951. He attended Auburn University in Alabama, graduating in 1973 with a B.S. in building construction.

After earning his degree, Allen worked as an estimator, project administrator and assistant to the president with a construction firm in Augusta. In 1976, he founded his own construction business, R. W. Allen & Associates, Inc. The company operates in six states across the country. In 2008, Allen was presented with the Augusta Metro Chamber of Commerce’s Small Business Person of the Year award.

AutoZone Company 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.