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.
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.
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