AutoZone Inc. (NYSE:AZO) – Equities research analysts at Gabelli lowered their FY2017 earnings per share (EPS) estimates for shares of AutoZone in a research note issued to investors on Friday. Gabelli analyst C. Jolly now anticipates that the brokerage will post earnings per share of $45.25 for the year, down from their prior forecast of $45.70. Gabelli also issued estimates for AutoZone’s FY2018 earnings at $50.00 EPS, FY2019 earnings at $55.05 EPS and FY2020 earnings at $61.15 EPS.
AutoZone (NYSE:AZO) last announced its quarterly earnings results on Thursday, September 22nd. The company reported $14.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $14.25 by $0.05. AutoZone had a net margin of 11.67% and a negative return on equity of 69.23%. The company earned $3.40 billion during the quarter. During the same period last year, the firm earned $12.75 EPS. AutoZone’s quarterly revenue was up 3.3% on a year-over-year basis.
Several other equities analysts also recently commented on AZO. Credit Suisse Group AG set a $870.00 price objective on shares of AutoZone and gave the company a “buy” rating in a research note on Saturday, September 17th. BTIG Research began coverage on shares of AutoZone in a research note on Wednesday, June 1st. They issued a “buy” rating and a $900.00 price objective for the company. Wedbush reissued an “outperform” rating and issued a $870.00 price objective on shares of AutoZone in a research note on Friday, September 23rd. Royal Bank Of Canada dropped their price objective on shares of AutoZone from $873.00 to $855.00 and set a “sector perform” rating for the company in a research note on Friday, September 23rd. Finally, RBC Capital Markets reissued a “sector perform” rating and issued a $855.00 price objective (down previously from $873.00) on shares of AutoZone in a research note on Friday, September 23rd. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $858.24.
Shares of AutoZone (NYSE:AZO) traded down 0.67% during trading on Monday, hitting $774.36. 95,804 shares of the stock traded hands. The firm has a market capitalization of $22.55 billion, a price-to-earnings ratio of 19.03 and a beta of 0.42. The firm has a 50-day moving average of $761.32 and a 200-day moving average of $776.45. AutoZone has a 1-year low of $681.01 and a 1-year high of $819.54.
Hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Fund Advisors boosted its position in shares of AutoZone by 6.8% in the first quarter. BlackRock Fund Advisors now owns 675,496 shares of the company’s stock worth $538,161,000 after buying an additional 42,911 shares in the last quarter. Hudson Bay Capital Management LP acquired a new position in shares of AutoZone during the first quarter worth about $797,000. BlackRock Group LTD boosted its position in shares of AutoZone by 1.3% in the first quarter. BlackRock Group LTD now owns 366,565 shares of the company’s stock worth $292,037,000 after buying an additional 4,737 shares in the last quarter. Rehmann Capital Advisory Group acquired a new position in shares of AutoZone during the first quarter worth about $207,000. Finally, Prudential Financial Inc. boosted its position in shares of AutoZone by 0.9% in the first quarter. Prudential Financial Inc. now owns 38,764 shares of the company’s stock worth $30,883,000 after buying an additional 360 shares in the last quarter. Hedge funds and other institutional investors own 95.55% of the company’s stock.
In other news, insider Thomas B. Newbern sold 16,870 shares of AutoZone stock in a transaction dated Thursday, August 11th. The shares were sold at an average price of $799.82, for a total transaction of $13,492,963.40. Following the completion of the transaction, the insider now directly owns 15,977 shares in the company, valued at $12,778,724.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director William Andrew Mckenna sold 3,000 shares of AutoZone stock in a transaction dated Tuesday, July 5th. The shares were sold at an average price of $800.25, for a total transaction of $2,400,750.00. Following the transaction, the director now owns 7,597 shares of the company’s stock, valued at $6,079,499.25. The disclosure for this sale can be found here. Insiders own 2.40% of the company’s stock.
AutoZone Company Profile
AutoZone, Inc is a retailer and distributor of automotive replacement parts and accessories in the United States. The Company’s operating segments include Auto Parts Locations and Other. The Auto Parts Locations segment comprises Domestic Auto Parts, Mexico, Brazil and Interamerican Motor Corporation (IMC).
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