Oppenheimer Holdings Research Analysts Reduce Earnings Estimates for AutoZone, Inc. (NYSE:AZO)

AutoZone, Inc. (NYSE:AZO) – Analysts at Oppenheimer Holdings lowered their FY2018 EPS estimates for AutoZone in a note issued to investors on Thursday. Oppenheimer Holdings analyst B. Nagel now anticipates that the company will post earnings per share of $46.80 for the year, down from their prior estimate of $49.65. Oppenheimer Holdings currently has a “Outperform” rating on the stock. Oppenheimer Holdings also issued estimates for AutoZone’s Q4 2018 earnings at $16.31 EPS.

A number of other brokerages also recently weighed in on AZO. Raymond James Financial, Inc. downgraded AutoZone from a “strong-buy” rating to a “market perform” rating in a report on Tuesday, May 23rd. Royal Bank Of Canada dropped their target price on AutoZone from $829.00 to $753.00 and set a “sector perform” rating on the stock in a report on Monday, May 22nd. Morgan Stanley dropped their target price on AutoZone from $825.00 to $680.00 and set an “overweight” rating on the stock in a report on Thursday, May 25th. Citigroup Inc. downgraded AutoZone from a “strong-buy” rating to a “market perform” rating in a report on Tuesday, May 23rd. Finally, Stephens downgraded AutoZone from an “overweight” rating to an “equal weight” rating in a report on Wednesday, May 24th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. AutoZone presently has an average rating of “Hold” and an average price target of $775.91.

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Shares of AutoZone (NYSE AZO) opened at 511.46 on Monday. The company has a 50 day moving average of $562.64 and a 200 day moving average of $677.76. AutoZone has a 52-week low of $491.13 and a 52-week high of $818.00. The firm has a market capitalization of $14.34 billion, a PE ratio of 11.81 and a beta of 0.62.

AutoZone (NYSE:AZO) last released its earnings results on Tuesday, May 23rd. The company reported $11.44 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $12.00 by $0.56. AutoZone had a negative return on equity of 70.52% and a net margin of 11.82%. The company had revenue of $2.62 billion during the quarter, compared to analyst estimates of $2.70 billion. During the same period in the prior year, the business posted $10.77 earnings per share. AutoZone’s revenue was up 1.0% on a year-over-year basis.

A number of hedge funds have recently added to or reduced their stakes in AZO. BlackRock Inc. increased its stake in AutoZone by 2,993.2% in the first quarter. BlackRock Inc. now owns 2,029,985 shares of the company’s stock valued at $1,467,778,000 after buying an additional 1,964,358 shares during the period. OppenheimerFunds Inc. increased its stake in AutoZone by 103.6% in the first quarter. OppenheimerFunds Inc. now owns 693,624 shares of the company’s stock worth $501,525,000 after buying an additional 352,990 shares during the last quarter. OMERS ADMINISTRATION Corp bought a new stake in AutoZone during the first quarter worth $114,285,000. JPMorgan Chase & Co. increased its stake in AutoZone by 24.5% in the first quarter. JPMorgan Chase & Co. now owns 637,592 shares of the company’s stock worth $461,012,000 after buying an additional 125,566 shares during the last quarter. Finally, Burgundy Asset Management Ltd. increased its stake in AutoZone by 35.8% in the first quarter. Burgundy Asset Management Ltd. now owns 401,278 shares of the company’s stock worth $290,144,000 after buying an additional 105,796 shares during the last quarter. Institutional investors and hedge funds own 96.85% of the company’s stock.

In other news, Director Earl G. Graves, Jr. sold 1,000 shares of AutoZone stock in a transaction that occurred on Thursday, June 8th. The stock was sold at an average price of $602.50, for a total transaction of $602,500.00. Following the completion of the transaction, the director now directly owns 4,431 shares in the company, valued at approximately $2,669,677.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director William Andrew Mckenna bought 300 shares of AutoZone stock in a transaction dated Thursday, July 13th. The shares were acquired at an average price of $507.00 per share, with a total value of $152,100.00. Following the completion of the purchase, the director now directly owns 5,131 shares in the company, valued at approximately $2,601,417. The disclosure for this purchase can be found here. 2.60% of the stock is owned by insiders.

AutoZone Company Profile

Autozone, Inc is a retailer and distributor of automotive replacement parts and accessories in the United States. The Company operates through the Auto Parts Locations segment. The Auto Parts Locations segment is a retailer and distributor of automotive parts and accessories. As of August 27, 2016, the Company operated through 5,814 locations in the United States, Puerto Rico, Mexico and Brazil.

Earnings History and Estimates for AutoZone (NYSE:AZO)

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