One of AutoZone’s (AZO) most senior financial executives has sold $12 million worth of company stock.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Scott Murphy, vice president and controller of AutoZone, exercised an option to acquire 2,860 shares in two separate transactions on Sept. 24, according to a filing with the U.S. Securities and Exchange Commission (SEC).
Murphy purchased 1,660 shares of AZO stock at $587.13 apiece, followed by a second purchase of 1,200 shares for $744.85 each, amounting to roughly $1.9 million total. The options were granted as part of his compensation in 2016 and 2017. However, Murphy then sold the entire 2,860 shares on the same day for net proceeds of $12 million.
Options Action
Following the sale, Murphy continues to own 1,244 shares of AutoZone, which are valued at $5.28 million based on the current price of $4,260.00. The stock of AutoZone, an automotive parts retailer, has risen 34% this year.
Despite the company reporting earnings that missed Wall Street’s projections for five consecutive quarters, AutoZone has benefited as consumers opt to keep their vehicles longer and repair them after U.S. President Donald Trump imposed a 25% tariff on all vehicles imported into America.
Is AZO Stock a Buy?
The stock of AutoZone has a consensus Strong Buy rating among 20 Wall Street analysts. That rating is based on 19 Buy and one Hold recommendations issued in the last three months. The average AZO price target of $4,645.53 implies 8.66% upside from current levels.
