AutoZone, Inc. (NYSE:AZO) - Analysts at Oppenheimer Holdings cut their FY2017 EPS estimates for AutoZone in a note issued to investors on Thursday. Oppenheimer Holdings analyst B. Nagel now anticipates that the company will earn $43.77 per share for the year, down from their prior estimate of $44.52. Oppenheimer Holdings currently has a “Outperform” rating on the stock. Oppenheimer Holdings also issued estimates for AutoZone’s Q4 2017 earnings at $15.05 EPS, Q1 2018 earnings at $9.88 EPS, Q2 2018 earnings at $8.50 EPS and Q3 2018 earnings at $12.30 EPS.
AZO has been the topic of several other reports. Barclays PLC dropped their price objective on shares of AutoZone from $870.00 to $710.00 and set an “overweight” rating on the stock in a research note on Thursday, July 6th. Goldman Sachs Group, Inc. (The) raised shares of AutoZone from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $615.62 to $662.00 in a research note on Tuesday, May 30th. They noted that the move was a valuation call. Wedbush reissued a “neutral” rating on shares of AutoZone in a research note on Thursday, July 6th. Jefferies Group LLC reaffirmed a “hold” rating and set a $810.00 price target on shares of AutoZone in a research note on Tuesday, April 18th. Finally, Royal Bank Of Canada lowered their price target on shares of AutoZone from $653.00 to $577.00 and set a “sector perform” rating on the stock in a research note on Thursday, July 6th. One 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 stock. The stock presently has a consensus 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 Friday. The stock has a market capitalization of $14.34 billion, a PE ratio of 11.81 and a beta of 0.62. AutoZone has a 52-week low of $491.13 and a 52-week high of $818.00. The firm has a 50-day moving average of $562.64 and a 200 day moving average of $677.76.
AutoZone (NYSE:AZO) last issued its quarterly earnings results on Tuesday, May 23rd. The company reported $11.44 EPS for the quarter, missing the consensus estimate of $12.00 by $0.56. The firm had revenue of $2.62 billion for the quarter, compared to the consensus estimate of $2.70 billion. AutoZone had a net margin of 11.82% and a negative return on equity of 70.52%. The business’s revenue for the quarter was up 1.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $10.77 earnings per share.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BLS Capital Fondsmaeglerselskab A S purchased a new position in AutoZone during the fourth quarter worth about $12,767,000. Dimensional Fund Advisors LP raised its position in AutoZone by 0.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 56,575 shares of the company’s stock worth $44,689,000 after buying an additional 367 shares during the period. Quadrature Capital Ltd raised its position in AutoZone by 6.8% in the fourth quarter. Quadrature Capital Ltd now owns 10,513 shares of the company’s stock worth $8,318,000 after buying an additional 672 shares during the period. UBS Asset Management Americas Inc. raised its position in AutoZone by 0.5% in the fourth quarter. UBS Asset Management Americas Inc. now owns 105,543 shares of the company’s stock worth $83,357,000 after buying an additional 544 shares during the period. Finally, Kentucky Retirement Systems purchased a new position in AutoZone during the fourth quarter worth about $1,654,000. Institutional investors own 96.79% of the company’s stock.
In other AutoZone news, VP William T. Giles sold 10,000 shares of the company’s stock in a transaction dated Tuesday, June 27th. The shares were sold at an average price of $581.10, for a total value of $5,811,000.00. Following the transaction, the vice president now directly owns 18,500 shares in the company, valued at approximately $10,750,350. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Earl G. Graves, Jr. sold 1,000 shares of the company’s stock in a transaction dated Thursday, June 8th. The shares were 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 owns 4,431 shares in the company, valued at $2,669,677.50. The disclosure for this sale can be found here. 2.60% of the stock is owned by insiders.
About AutoZone
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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