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AutoZone (NYSE:AZO) Earning Somewhat Favorable Press Coverage, Report Shows

Press coverage about AutoZone (NYSE:AZO) has trended somewhat positive this week, according to Accern. The research firm ranks the sentiment of media coverage by monitoring more than twenty million blog and news sources in real time. Accern ranks coverage of public companies on a scale of negative one to one, with scores closest to one being the most favorable. AutoZone earned a daily sentiment score of 0.14 on Accern’s scale. Accern also assigned news headlines about the company an impact score of 46.4799974129597 out of 100, meaning that recent media coverage is somewhat unlikely to have an effect on the stock’s share price in the near term.

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These are some of the news stories that may have impacted Accern Sentiment’s scoring:

AutoZone (AZO) traded up 1.60% during trading on Friday, reaching $533.94. The company had a trading volume of 373,200 shares. The company has a market capitalization of $14.97 billion, a PE ratio of 12.33 and a beta of 0.61. The stock has a 50 day moving average price of $528.38 and a 200-day moving average price of $650.21. AutoZone has a 52-week low of $491.13 and a 52-week high of $813.70.

AutoZone (NYSE:AZO) last posted its earnings results on Tuesday, May 23rd. The company reported $11.44 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $12.00 by $0.56. The business had revenue of $2.62 billion during the quarter, compared to the consensus estimate of $2.70 billion. AutoZone had a negative return on equity of 70.52% and a net margin of 11.82%. The business’s revenue was up 1.0% on a year-over-year basis. During the same period in the prior year, the firm earned $10.77 earnings per share. On average, equities research analysts anticipate that AutoZone will post $43.99 earnings per share for the current fiscal year.

Several research analysts have commented on AZO shares. Deutsche Bank AG reduced their price objective on AutoZone from $800.00 to $650.00 and set a “hold” rating on the stock in a report on Thursday, May 25th. BTIG Research reaffirmed a “buy” rating and set a $825.00 target price on shares of AutoZone in a research report on Wednesday, May 24th. CIBC reissued a “buy” rating and issued a $900.00 price objective on shares of AutoZone in a research report on Wednesday, May 24th. Oppenheimer Holdings, Inc. set a $900.00 price objective on AutoZone and gave the stock a “buy” rating in a research report on Tuesday, May 23rd. Finally, Bank of America Corporation cut AutoZone from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $750.00 to $575.00 in a research report on Friday, July 7th. Two equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $775.91.

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In other AutoZone news, Director Earl G. Graves, Jr. sold 1,000 shares of the firm’s stock in a transaction dated Thursday, June 8th. The shares were sold at an average price of $602.50, for a total value of $602,500.00. Following the completion of the sale, the director now owns 4,431 shares in the company, valued at approximately $2,669,677.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP William T. Giles sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, June 27th. The shares were sold at an average price of $581.10, for a total transaction of $5,811,000.00. Following the completion of the sale, the vice president now owns 18,500 shares of the company’s stock, valued at approximately $10,750,350. The disclosure for this sale can be found here. 2.60% of the stock is currently owned by corporate 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.