AutoZone, Inc. (NYSE:AZO) announced that Larry Roesel, Senior Vice President, Commercial, Customer Satisfaction has made the decision to retire from AutoZone later this fall. Larry joinedAutoZone in 2007 and has been a key contributor in designing and building the Commercial business at AutoZone. Under Larry’s leadership, AutoZone’s Commercial business has grown from $700 million to $1.8 billion.
“I would like to thank Larry for his many contributions to our organization over the last eight years,” said Bill Rhodes, Chairman, President and Chief Executive Officer. “While we will certainly miss Larry and his contributions, he has developed strong leaders who are prepared to lead this organization to continued success well into the future. We wish Larry and his wife, Beverly, all the best in retirement.”
“It’s been a fantastic experience over the past 8 1/2 years,” said Roesel. “AutoZone is truly a unique and incredible organization driven by our strong ‘Customers First’ culture, exceptional leadership and the dedication and passion our 80,000 AutoZoners demonstrate every day. I’m extremely proud of the results we’ve delivered and the progress we’ve made with our Commercial business. I wish the team continued success for many years to come.” (Original Source)
Shares of AutoZone closed today at $730.80, down $22.68 or 3.01%. AZO has a 1-year high of $754.90 and a 1-year low of $491.93. The stock’s 50-day moving average is $726.16 and its 200-day moving average is $692.96.
On the ratings front, AutoZone has been the subject of a number of recent research reports. In a report issued on September 23, Oppenheimer analyst Brian Nagel reiterated a Hold rating on AZO. Separately, on September 21, Deutsche Bank’s Michael Baker maintained a Hold rating on the stock and has a price target of $740.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Brian Nagel and Michael Baker have a total average return of 7.8% and 2.2% respectively. Nagel has a success rate of 61.2% and is ranked #253 out of 3759 analysts, while Baker has a success rate of 51.9% and is ranked #1535.
Overall, 3 research analysts have assigned a Hold rating and 2 research analysts have given a Buy rating to the stock. When considering if perhaps the stock is under or overvalued, the average price target is $798.33 which is 9.2% above where the stock opened today.
AutoZone Inc is a retailer and distributor of automotive replacement parts and accessories in the United States. The Company operates stores which carries an extensive product line for cars, sport utility vehicles, vans and light trucks and among others.