AutoZone (AZO) Earning Somewhat Positive News Coverage, Report Shows

News articles about AutoZone (NYSE:AZO) have trended somewhat positive recently, according to Accern Sentiment Analysis. Accern rates the sentiment of press coverage by monitoring more than twenty million blog and news sources. Accern ranks coverage of public companies on a scale of -1 to 1, with scores nearest to one being the most favorable. AutoZone earned a daily sentiment score of 0.19 on Accern’s scale. Accern also assigned news stories about the company an impact score of 45.8057156770796 out of 100, meaning that recent press coverage is somewhat unlikely to have an impact on the company’s share price in the next few days.

These are some of the news stories that may have effected Accern Sentiment’s scoring:

AutoZone traded up $0.16, reaching $682.99, during mid-day trading on Thursday, Marketbeat reports. 293,126 shares of the stock were exchanged, compared to its average volume of 419,322. The firm has a market cap of $18.24 billion, a P/E ratio of 15.87, a PEG ratio of 0.97 and a beta of 0.86. AutoZone has a 1-year low of $491.13 and a 1-year high of $797.89. The company has a quick ratio of 0.15, a current ratio of 0.98 and a debt-to-equity ratio of -3.79.

AutoZone (NYSE:AZO) last released its earnings results on Tuesday, May 22nd. The company reported $13.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $12.99 by $0.43. The firm had revenue of $2.26 billion for the quarter, compared to analyst estimates of $2.71 billion. AutoZone had a negative return on equity of 95.76% and a net margin of 12.27%. AutoZone’s revenue was down 13.7% compared to the same quarter last year. During the same period in the previous year, the company earned $11.44 earnings per share. sell-side analysts expect that AutoZone will post 49.87 EPS for the current year.

AutoZone declared that its board has initiated a share repurchase program on Tuesday, March 20th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the company to repurchase shares of its stock through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

A number of research analysts have recently commented on AZO shares. Wedbush lowered their price target on AutoZone from $750.00 to $680.00 and set an “outperform” rating on the stock in a report on Wednesday, May 23rd. Morgan Stanley lowered their price target on AutoZone from $750.00 to $700.00 and set an “equal weight” rating on the stock in a report on Wednesday, May 23rd. Royal Bank of Canada lowered their price target on AutoZone to $668.00 and set a “market perform” rating on the stock in a report on Wednesday, May 23rd. Wells Fargo & Co reissued a “buy” rating and set a $700.00 price target on shares of AutoZone in a report on Tuesday, May 22nd. Finally, Citigroup lowered their price target on AutoZone from $820.00 to $790.00 and set a “buy” rating on the stock in a report on Thursday, March 1st. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $730.18.

In related news, Director Douglas H. Brooks purchased 162 shares of the company’s stock in a transaction that occurred on Monday, April 16th. The shares were purchased at an average price of $607.49 per share, with a total value of $98,413.38. Following the purchase, the director now owns 1,904 shares of the company’s stock, valued at approximately $1,156,660.96. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 2.80% of the company’s stock.

AutoZone Company Profile

AutoZone, Inc retails and distributes automotive replacement parts and accessories. It offers various products for cars, sport utility vehicles, vans, and light trucks, including new and remanufactured automotive hard parts, maintenance items, accessories, and non-automotive products. The company's products include A/C compressors, batteries and accessories, bearings, belts and hoses, calipers, carburetors, chassis, clutches, CV axles, engines, fuel pumps, fuses, ignition and lighting products, mufflers, radiators, thermostats, starters and alternators, and water pumps.

Insider Buying and Selling by Quarter for AutoZone (NYSE:AZO)

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