Zacks: Brokerages Anticipate AutoZone, Inc. (AZO) Will Announce Quarterly Sales of $3.49 Billion
Brokerages expect AutoZone, Inc. (NYSE:AZO) to report sales of $3.49 billion for the current quarter, Zacks Investment Research reports. Nine analysts have issued estimates for AutoZone’s earnings, with estimates ranging from $3.45 billion to $3.55 billion. AutoZone posted sales of $3.40 billion during the same quarter last year, which would indicate a positive year over year growth rate of 2.6%. The firm is scheduled to issue its next quarterly earnings report before the market opens on Tuesday, September 19th.
According to Zacks, analysts expect that AutoZone will report full year sales of $3.49 billion for the current year, with estimates ranging from $10.82 billion to $10.93 billion. For the next year, analysts expect that the business will report sales of $11.23 billion per share, with estimates ranging from $11.09 billion to $11.43 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that cover AutoZone.
A number of equities research analysts have issued reports on AZO shares. Goldman Sachs Group, Inc. (The) raised shares of AutoZone from a “neutral” rating to a “buy” rating and raised their price target for the stock from $615.62 to $662.00 in a report on Tuesday, May 30th. They noted that the move was a valuation call. Citigroup Inc. dropped their price objective on shares of AutoZone from $920.00 to $750.00 and set a “buy” rating on the stock in a research note on Thursday, May 25th. Oppenheimer Holdings, Inc. set a $900.00 price objective on shares of AutoZone and gave the stock a “buy” rating in a research note on Tuesday, May 23rd. BTIG Research reissued a “buy” rating and set a $825.00 price objective on shares of AutoZone in a research note on Wednesday, May 24th. Finally, CIBC reaffirmed a “buy” rating and issued a $900.00 target price on shares of AutoZone in a report on Wednesday, May 24th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $776.64.
In other AutoZone news, Director William Andrew Mckenna bought 300 shares of the company’s stock in a transaction on Thursday, July 13th. The shares were bought at an average cost of $507.00 per share, for a total transaction of $152,100.00. Following the acquisition, the director now directly owns 5,131 shares in the company, valued at $2,601,417. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP William T. Giles sold 10,000 shares of the stock in a transaction dated Tuesday, June 27th. The stock was sold at an average price of $581.10, for a total transaction of $5,811,000.00. Following the transaction, the vice president now owns 18,500 shares in the company, valued at $10,750,350. The disclosure for this sale can be found here. Company insiders own 2.60% of the company’s stock.
Institutional investors have recently modified their holdings of the business. American Beacon Advisors Inc. bought a new position in AutoZone during the 1st quarter worth about $104,000. Fieldpoint Private Securities LLC bought a new position in AutoZone during the 2nd quarter worth about $114,000. Alpha Windward LLC grew its holdings in AutoZone by 3.2% during the 2nd quarter. Alpha Windward LLC now owns 259 shares of the company’s stock worth $148,000 after acquiring an additional 8 shares in the last quarter. Salem Investment Counselors Inc. grew its holdings in AutoZone by 3.5% during the 2nd quarter. Salem Investment Counselors Inc. now owns 264 shares of the company’s stock worth $151,000 after acquiring an additional 9 shares in the last quarter. Finally, Colony Group LLC bought a new position in AutoZone during the 1st quarter worth about $205,000. Institutional investors own 96.06% of the company’s stock.
Shares of AutoZone (NYSE:AZO) opened at 540.51 on Friday. The company has a market cap of $15.15 billion, a PE ratio of 12.49 and a beta of 0.62. AutoZone has a 52 week low of $491.13 and a 52 week high of $813.70. The company has a 50 day moving average of $526.96 and a 200 day moving average of $622.23.
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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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