Q3 2018 EPS Estimates for AutoZone, Inc. Reduced by Jefferies Group (AZO)
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.
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.
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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