AutoZone Inc. (NYSE:AZO) – Investment analysts at Wedbush lifted their Q1 2017 EPS estimates for shares of AutoZone in a note issued to investors on Friday. Wedbush analyst S. Basham now anticipates that the brokerage will earn $9.38 per share for the quarter, up from their prior estimate of $9.34. Wedbush has a “Outperform” rating and a $870.00 price target on the stock. Wedbush also issued estimates for AutoZone’s Q2 2017 earnings at $8.25 EPS, Q3 2017 earnings at $11.96 EPS, Q4 2017 earnings at $15.97 EPS and FY2018 earnings at $51.05 EPS.
AutoZone (NYSE:AZO) last issued its earnings results on Thursday, September 22nd. The company reported $14.30 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $14.25 by $0.05. The firm earned $3.40 billion during the quarter. AutoZone had a net margin of 11.55% and a negative return on equity of 68.63%. The firm’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $12.75 earnings per share.
A number of other research firms have also recently weighed in on AZO. Credit Suisse Group AG set a $870.00 price target on AutoZone and gave the stock a “buy” rating in a report on Saturday, September 17th. Barclays PLC reiterated an “overweight” rating and set a $870.00 price target on shares of AutoZone in a report on Sunday. Goldman Sachs Group Inc. set a $841.00 price target on AutoZone and gave the stock a “hold” rating in a report on Monday, September 19th. BTIG Research started coverage on AutoZone in a report on Wednesday, June 1st. They set a “buy” rating and a $900.00 price target for the company. Finally, Morgan Stanley set a $820.00 price target on AutoZone and gave the stock a “hold” rating in a report on Thursday, August 11th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $858.24.
Shares of AutoZone (NYSE:AZO) traded up 1.81% during mid-day trading on Monday, hitting $772.65. 109,164 shares of the stock were exchanged. The company has a 50-day moving average price of $761.94 and a 200-day moving average price of $776.57. AutoZone has a 12 month low of $681.01 and a 12 month high of $819.54. The stock has a market cap of $22.50 billion, a price-to-earnings ratio of 18.98 and a beta of 0.42.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Evercore Wealth Management LLC increased its position in shares of AutoZone by 1.7% in the second quarter. Evercore Wealth Management LLC now owns 81,985 shares of the company’s stock valued at $65,083,000 after buying an additional 1,404 shares during the period. Kentucky Retirement Systems Insurance Trust Fund bought a new position in shares of AutoZone during the second quarter valued at $957,000. Kentucky Retirement Systems bought a new position in shares of AutoZone during the second quarter valued at $2,016,000. Mason Street Advisors LLC bought a new position in shares of AutoZone during the second quarter valued at $3,193,000. Finally, CI Global Investments Inc. increased its position in shares of AutoZone by 29.7% in the second quarter. CI Global Investments Inc. now owns 17,375 shares of the company’s stock valued at $13,793,000 after buying an additional 3,975 shares during the period. 95.55% of the stock is currently owned by institutional investors.
In other AutoZone news, Director Earl G. Graves, Jr. sold 1,000 shares of AutoZone stock in a transaction that occurred on Tuesday, July 19th. The stock was sold at an average price of $795.24, for a total transaction of $795,240.00. Following the transaction, the director now owns 4,127 shares of the company’s stock, valued at $3,281,955.48. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Thomas B. Newbern sold 16,870 shares of AutoZone stock in a transaction that occurred on Thursday, August 11th. The stock was sold at an average price of $799.82, for a total value of $13,492,963.40. Following the transaction, the insider now directly owns 15,977 shares in the company, valued at approximately $12,778,724.14. The disclosure for this sale can be found here. Company insiders own 2.40% 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’s operating segments include Auto Parts Locations and Other. The Auto Parts Locations segment comprises Domestic Auto Parts, Mexico, Brazil and Interamerican Motor Corporation (IMC).
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