AutoZone, Inc. (NYSE:AZO) – Equities research analysts at Gabelli reduced their FY2018 earnings estimates for AutoZone in a research note issued on Wednesday. Gabelli analyst C. Jolly now expects that the company will earn $47.55 per share for the year, down from their previous estimate of $48.60. Gabelli also issued estimates for AutoZone’s FY2022 earnings at $70.15 EPS.

AutoZone (NYSE:AZO) last issued its quarterly earnings results on Tuesday, September 19th. The company reported $15.18 earnings per share for the quarter, topping the consensus estimate of $15.11 by $0.07. The company had revenue of $3.51 billion during the quarter, compared to analysts’ expectations of $3.49 billion. AutoZone had a net margin of 11.76% and a negative return on equity of 74.48%. The business’s quarterly revenue was up 3.3% on a year-over-year basis. During the same period last year, the business earned $14.30 EPS.

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Several other brokerages also recently issued reports on AZO. ValuEngine downgraded AutoZone from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Wedbush downgraded AutoZone from an “outperform” rating to a “neutral” rating and decreased their price target for the stock from $660.00 to $650.00 in a report on Tuesday, May 30th. Goldman Sachs Group, Inc. (The) upgraded AutoZone from a “neutral” rating to a “buy” rating and upped 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. Morgan Stanley decreased their price target on AutoZone from $825.00 to $680.00 and set an “overweight” rating for the company in a report on Thursday, May 25th. Finally, TheStreet upgraded AutoZone from a “d+” rating to a “c” rating in a report on Wednesday, June 7th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twelve have assigned 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 target price of $747.27.

Shares of AutoZone (AZO) traded up 1.294% during trading on Thursday, hitting $550.615. 343,701 shares of the stock traded hands. 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 $534.42 and a 200-day moving average of $611.55. The firm has a market cap of $15.43 billion, a P/E ratio of 12.719 and a beta of 0.62.

In other news, 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 directly owns 18,500 shares in the company, valued at approximately $10,750,350. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director William Andrew Mckenna acquired 300 shares of AutoZone stock in a transaction dated Thursday, July 13th. The shares were purchased at an average price of $507.00 per share, for a total transaction of $152,100.00. Following the completion of the transaction, the director now directly owns 5,131 shares in the company, valued at approximately $2,601,417. The disclosure for this purchase can be found here. 2.60% of the stock is owned by corporate insiders.

Several institutional investors have recently made changes to their positions in AZO. American Beacon Advisors Inc. bought a new position in shares of AutoZone during the 1st quarter valued at about $104,000. Fieldpoint Private Securities LLC bought a new position in AutoZone during the 2nd quarter worth approximately $114,000. Alpha Windward LLC grew its position 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 during the last quarter. Salem Investment Counselors Inc. grew its position 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 during the last quarter. Finally, Global X Management Co. LLC grew its position in AutoZone by 12.9% during the 2nd 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. Hedge funds and other institutional investors own 96.08% of the company’s stock.

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.

Earnings History and Estimates for AutoZone (NYSE:AZO)

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