AutoZone, Inc. (NYSE:AZO) – Equities research analysts at Jefferies Group decreased their Q3 2018 earnings per share (EPS) estimates for shares of AutoZone in a note issued to investors on Wednesday. Jefferies Group analyst B. Jordan now anticipates that the company will post earnings per share of $12.82 for the quarter, down from their previous forecast of $13.09. Jefferies Group has a “Hold” rating and a $810.00 price target on the stock.

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 Zacks’ consensus estimate of $12.00 by $0.56. The business had revenue of $2.62 billion during the quarter, compared to analyst estimates of $2.70 billion. AutoZone had a net margin of 11.77% and a negative return on equity of 69.22%. The business’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same period last year, the business earned $10.77 EPS.

ILLEGAL ACTIVITY WARNING: This story was first published by American Banking News and is owned by of American Banking News. If you are reading this story on another site, it was illegally copied and reposted in violation of U.S. & international copyright law. The correct version of this story can be read at https://www.americanbankingnews.com/2017/05/26/q3-2018-eps-estimates-for-autozone-inc-reduced-by-jefferies-group-azo.html.

Earnings History and Estimates for AutoZone (NYSE:AZO)

A number of other equities research analysts also recently issued reports on AZO. ValuEngine raised AutoZone from a “hold” rating to a “buy” rating in a research report on Wednesday. Stephens downgraded AutoZone from an “overweight” rating to an “equal weight” rating in a research report on Wednesday. Royal Bank of Canada reduced their price target on AutoZone from $829.00 to $753.00 and set a “sector perform” rating on the stock in a research report on Monday. Deutsche Bank AG reissued a “hold” rating and set a $650.00 price target (down previously from $800.00) on shares of AutoZone in a research report on Thursday. Finally, CIBC reissued a “buy” rating and set a $900.00 price target on shares of AutoZone in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $835.38.

Shares of AutoZone (NYSE:AZO) traded up 0.60% during mid-day trading on Friday, hitting $611.00. The stock had a trading volume of 339,143 shares. The stock has a market capitalization of $17.36 billion, a P/E ratio of 14.33 and a beta of 0.58. AutoZone has a 52 week low of $573.80 and a 52 week high of $819.54. The stock has a 50 day moving average of $685.51 and a 200-day moving average of $737.06. AutoZone also was the target of unusually large options trading on Tuesday. Stock investors purchased 746 put options on the company. This is an increase of approximately 936% compared to the typical daily volume of 72 put options.

In related news, insider Rodney C. Halsell sold 14,300 shares of the firm’s stock in a transaction on Tuesday, March 21st. The stock was sold at an average price of $724.54, for a total transaction of $10,360,922.00. Following the sale, the insider now owns 3,966 shares of the company’s stock, valued at approximately $2,873,525.64. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Earl G. Graves, Jr. sold 1,000 shares of the firm’s stock in a transaction on Thursday, March 16th. The shares were sold at an average price of $714.96, for a total value of $714,960.00. Following the sale, the director now directly owns 4,431 shares in the company, valued at approximately $3,167,987.76. The disclosure for this sale can be found here. In the last three months, insiders have sold 27,300 shares of company stock worth $19,917,242. 2.60% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the company. American Beacon Advisors Inc. bought a new position in shares of AutoZone during the first quarter valued at about $104,000. Commonwealth Bank of Australia raised its position in shares of AutoZone by 27.6% in the third quarter. Commonwealth Bank of Australia now owns 162 shares of the company’s stock valued at $125,000 after buying an additional 35 shares in the last quarter. Alpha Windward LLC raised its position in shares of AutoZone by 0.8% in the first quarter. Alpha Windward LLC now owns 251 shares of the company’s stock valued at $181,000 after buying an additional 2 shares in the last quarter. Colony Group LLC bought a new position in shares of AutoZone during the first quarter valued at about $205,000. Finally, Global X Management Co. LLC raised its position in shares of AutoZone by 26.5% in the first quarter. Global X Management Co. LLC now owns 286 shares of the company’s stock valued at $207,000 after buying an additional 60 shares in the last quarter. 96.42% of the stock is owned by institutional investors and hedge funds.

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.

12 Month Chart for NYSE:AZO

Receive News & Ratings for AutoZone Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AutoZone Inc. and related companies with MarketBeat.com's FREE daily email newsletter.