AutoZone, Inc. (NYSE:AZO) – Oppenheimer Holdings dropped their FY2017 earnings per share estimates for shares of AutoZone in a research report issued to clients and investors on Thursday. Oppenheimer Holdings analyst B. Nagel now forecasts that the company will post earnings of $43.77 per share for the year, down from their prior estimate of $44.52. Oppenheimer Holdings currently has a “Outperform” rating on the stock. Oppenheimer Holdings also issued estimates for AutoZone’s Q4 2017 earnings at $15.05 EPS, Q1 2018 earnings at $9.88 EPS, Q2 2018 earnings at $8.50 EPS and Q3 2018 earnings at $12.30 EPS.

Several other research firms also recently issued reports on AZO. Raymond James Financial, Inc. downgraded AutoZone from a “strong-buy” rating to a “market perform” rating in a research note on Tuesday, May 23rd. Royal Bank Of Canada dropped their price target on AutoZone from $829.00 to $753.00 and set a “sector perform” rating on the stock in a research note on Monday, May 22nd. Morgan Stanley dropped their price target on AutoZone from $825.00 to $680.00 and set an “overweight” rating on the stock in a research note on Thursday, May 25th. Citigroup Inc. downgraded AutoZone from a “strong-buy” rating to a “market perform” rating in a research note on Tuesday, May 23rd. Finally, Stephens downgraded AutoZone from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, May 24th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. AutoZone has a consensus rating of “Hold” and a consensus price target of $780.26.

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Shares of AutoZone (NYSE AZO) traded up 0.68% on Friday, reaching $505.98. The company’s stock had a trading volume of 141,871 shares. The company has a 50 day moving average price of $562.64 and a 200 day moving average price of $677.76. AutoZone has a 52-week low of $491.13 and a 52-week high of $818.00. The company has a market cap of $14.18 billion, a P/E ratio of 11.69 and a beta of 0.62.

AutoZone (NYSE:AZO) last issued its earnings results on Tuesday, May 23rd. The company reported $11.44 EPS for the quarter, missing analysts’ consensus estimates of $12.00 by $0.56. AutoZone had a net margin of 11.82% and a negative return on equity of 70.52%. The firm had revenue of $2.62 billion during the quarter, compared to analysts’ expectations of $2.70 billion. During the same quarter last year, the firm earned $10.77 EPS. The business’s revenue for the quarter was up 1.0% compared to the same quarter last year.

A number of large investors have recently modified their holdings of AZO. Gulf International Bank UK Ltd increased its stake in shares of AutoZone by 1.2% in the first quarter. Gulf International Bank UK Ltd now owns 9,050 shares of the company’s stock valued at $6,543,000 after buying an additional 105 shares during the period. Creative Planning increased its stake in shares of AutoZone by 0.4% in the first quarter. Creative Planning now owns 1,972 shares of the company’s stock valued at $1,426,000 after buying an additional 8 shares during the period. Manning & Napier Advisors LLC increased its stake in shares of AutoZone by 508.4% in the first quarter. Manning & Napier Advisors LLC now owns 53,480 shares of the company’s stock valued at $38,667,000 after buying an additional 44,690 shares during the period. Chevy Chase Trust Holdings Inc. increased its stake in shares of AutoZone by 1.3% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 26,745 shares of the company’s stock valued at $19,338,000 after buying an additional 355 shares during the period. Finally, Pensionfund DSM Netherlands increased its stake in shares of AutoZone by 4.8% in the first quarter. Pensionfund DSM Netherlands now owns 4,400 shares of the company’s stock valued at $3,181,000 after buying an additional 200 shares during the period. Hedge funds and other institutional investors own 96.79% of the company’s stock.

In other AutoZone news, Director Earl G. Graves, Jr. sold 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 8th. The shares were sold at an average price of $602.50, for a total transaction of $602,500.00. Following the completion of the sale, the director now directly owns 4,431 shares in the company, valued at $2,669,677.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director William Andrew Mckenna acquired 300 shares of the business’s stock in a transaction on Thursday, July 13th. The shares were bought at an average price of $507.00 per share, with a total value of $152,100.00. Following the completion of the transaction, the director now directly owns 5,131 shares of the company’s stock, valued at $2,601,417. The disclosure for this purchase can be found here. Company 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.

Earnings History and Estimates for AutoZone (NYSE:AZO)

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