AutoZone, Inc. (NYSE:AZO) – Research analysts at Northcoast Research reduced their FY2017 earnings estimates for AutoZone in a report issued on Friday. Northcoast Research analyst N. Mitchell now expects that the company will post earnings of $44.13 per share for the year, down from their previous forecast of $44.45. Northcoast Research also issued estimates for AutoZone’s Q4 2017 earnings at $15.32 EPS, Q4 2018 earnings at $17.31 EPS and FY2018 earnings at $47.95 EPS.
AutoZone (NYSE:AZO) last announced its earnings results on Tuesday, September 19th. The company reported $15.18 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $15.11 by $0.07. The business had revenue of $3.51 billion during the quarter, compared to the consensus estimate of $3.49 billion. AutoZone had a negative return on equity of 70.52% and a net margin of 11.82%. The business’s quarterly revenue was up 3.3% on a year-over-year basis. During the same period in the prior year, the company posted $14.30 EPS. TRADEMARK VIOLATION NOTICE: This piece was originally published by Chaffey Breeze and is the sole property of of Chaffey Breeze. If you are accessing this piece on another publication, it was illegally stolen and republished in violation of U.S. & international copyright & trademark legislation. The correct version of this piece can be viewed at https://www.chaffeybreeze.com/2017/09/20/autozone-inc-to-post-fy2017-earnings-of-44-13-per-share-northcoast-research-forecasts-azo.html.
A number of other analysts also recently weighed in on the company. Oppenheimer Holdings, Inc. decreased their price target on AutoZone and set an “outperform” rating on the stock in a research note on Thursday, July 20th. ValuEngine upgraded AutoZone from a “hold” rating to a “buy” rating in a research note on Wednesday, May 24th. Deutsche Bank AG decreased their price target on AutoZone from $800.00 to $650.00 and set a “hold” rating on the stock in a research note on Thursday, May 25th. Citigroup Inc. decreased their price target on AutoZone from $920.00 to $750.00 and set a “buy” rating on the stock in a research note on Thursday, May 25th. Finally, Morgan Stanley downgraded AutoZone from an “overweight” rating to an “equal weight” rating in a research note on Thursday, July 6th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $776.64.
AutoZone (NYSE:AZO) opened at 535.19 on Monday. The firm has a market capitalization of $15.00 billion, a P/E ratio of 12.36 and a beta of 0.62. AutoZone has a 52 week low of $491.13 and a 52 week high of $813.70. The stock’s 50 day moving average price is $534.42 and its 200 day moving average price is $611.55.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. American Beacon Advisors Inc. acquired a new position in shares of AutoZone in the first quarter worth $104,000. Fieldpoint Private Securities LLC acquired a new position in shares of AutoZone in the second quarter worth $114,000. Alpha Windward LLC raised its holdings in shares of AutoZone by 3.2% in the second quarter. Alpha Windward LLC now owns 259 shares of the company’s stock worth $148,000 after acquiring an additional 8 shares during the last quarter. Salem Investment Counselors Inc. raised its holdings in shares of AutoZone by 3.5% in the second quarter. Salem Investment Counselors Inc. now owns 264 shares of the company’s stock worth $151,000 after acquiring an additional 9 shares during the last quarter. Finally, Global X Management Co. LLC raised its holdings in shares of AutoZone by 12.9% in the second quarter. Global X Management Co. LLC now owns 323 shares of the company’s stock worth $184,000 after acquiring an additional 37 shares during the last quarter. 96.08% of the stock is owned by institutional investors.
In other news, VP William T. Giles sold 10,000 shares of the business’s stock in a transaction on Tuesday, June 27th. The stock was sold at an average price of $581.10, for a total value of $5,811,000.00. Following the completion of the transaction, the vice president now directly owns 18,500 shares of the company’s stock, valued at $10,750,350. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director William Andrew Mckenna purchased 300 shares of the business’s stock in a transaction dated Thursday, July 13th. The stock was bought at an average cost of $507.00 per share, with a total value of $152,100.00. Following the completion of the acquisition, the director now owns 5,131 shares of the company’s stock, valued at $2,601,417. The disclosure for this purchase can be found here. Insiders own 2.60% 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 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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