Brokers Set Expectations for AutoZone, Inc.’s FY2018 Earnings (AZO)
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.
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.
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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