News stories about AutoZone (NYSE:AZO) have been trending somewhat positive this week, Accern Sentiment reports. Accern identifies negative and positive media coverage by analyzing more than twenty million blog and news sources in real-time. Accern ranks coverage of publicly-traded companies on a scale of -1 to 1, with scores closest to one being the most favorable. AutoZone earned a coverage optimism score of 0.11 on Accern’s scale. Accern also assigned headlines about the company an impact score of 46.8250186236253 out of 100, indicating that recent media coverage is somewhat unlikely to have an effect on the company’s share price in the immediate future.
Here are some of the news headlines that may have impacted Accern Sentiment Analysis’s analysis:
- AutoZone (AZO) Announces $1B Share Repurchase Authorization – Nasdaq (nasdaq.com)
- AutoZone (AZO) Board Initiates Share Buyback Plan (americanbankingnews.com)
- Technical data from the actions of people on AutoZone, Inc. (AZO) – Wall Street Morning (wallstreetmorning.com)
- AutoZone adds $1B to buyback authorization (seekingalpha.com)
- AutoZone Authorizes Additional Stock Repurchase (markets.financialcontent.com)
AZO has been the topic of several research reports. Deutsche Bank boosted their price objective on shares of AutoZone from $625.00 to $700.00 in a research note on Thursday, December 7th. Jefferies Group reissued a “hold” rating and set a $720.00 price objective on shares of AutoZone in a research note on Wednesday, December 6th. Wedbush reissued a “neutral” rating and set a $670.00 price objective (down previously from $720.00) on shares of AutoZone in a research note on Wednesday, February 28th. Argus boosted their price objective on shares of AutoZone from $675.00 to $875.00 and gave the stock a “buy” rating in a research note on Friday, February 2nd. Finally, Zacks Investment Research lowered shares of AutoZone from a “hold” rating to a “sell” rating in a research note on Tuesday, November 21st. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and ten have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $754.28.
AutoZone (NYSE:AZO) last released its quarterly earnings data on Tuesday, February 27th. The company reported $8.47 earnings per share for the quarter, missing the consensus estimate of $8.81 by ($0.34). AutoZone had a net margin of 12.00% and a negative return on equity of 88.86%. The company had revenue of $2.41 billion for the quarter, compared to analysts’ expectations of $2.39 billion. During the same period in the previous year, the firm earned $7.75 earnings per share. The firm’s revenue for the quarter was up 5.4% on a year-over-year basis. equities research analysts forecast that AutoZone will post 49.48 earnings per share for the current year.
AutoZone declared that its board has authorized a stock repurchase plan on Tuesday, March 20th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the company to repurchase shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s leadership believes its shares are undervalued.
In other news, insider Philip B. Daniele sold 740 shares of the business’s stock in a transaction that occurred on Friday, January 12th. The shares were sold at an average price of $780.37, for a total transaction of $577,473.80. Following the completion of the transaction, the insider now directly owns 1,058 shares of the company’s stock, valued at $825,631.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Richard Craig Smith sold 2,700 shares of the business’s stock in a transaction that occurred on Thursday, January 4th. The shares were sold at an average price of $760.00, for a total transaction of $2,052,000.00. Following the transaction, the vice president now directly owns 4,500 shares of the company’s stock, valued at $3,420,000. The disclosure for this sale can be found here. Insiders have sold 18,887 shares of company stock valued at $14,165,983 over the last three months. 2.80% of the stock is owned by corporate insiders.
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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 October 27, 2016, the Company operated through 6,029 locations in the United States, Puerto Rico, Mexico and Brazil.
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