AutoZone, Inc. (NYSE:AZO) – Research analysts at William Blair lifted their FY2019 earnings estimates for shares of AutoZone in a research report issued to clients and investors on Tuesday, May 21st. William Blair analyst D. Hofkin now expects that the company will earn $62.50 per share for the year, up from their previous forecast of $61.50. William Blair also issued estimates for AutoZone’s Q4 2019 earnings at $21.77 EPS, Q1 2020 earnings at $14.37 EPS, Q2 2020 earnings at $11.83 EPS, Q3 2020 earnings at $16.82 EPS, Q4 2020 earnings at $22.67 EPS and FY2020 earnings at $65.50 EPS.
AutoZone (NYSE:AZO) last issued its quarterly earnings results on Tuesday, May 21st. The company reported $15.99 EPS for the quarter, topping analysts’ consensus estimates of $15.23 by $0.76. AutoZone had a negative return on equity of 98.24% and a net margin of 12.49%. The business had revenue of $2.78 billion during the quarter, compared to analysts’ expectations of $2.77 billion. During the same quarter in the prior year, the business posted $13.42 earnings per share. The business’s quarterly revenue was up 4.6% on a year-over-year basis.
AZO has been the topic of several other reports. Zacks Investment Research downgraded AutoZone from a “buy” rating to a “hold” rating in a report on Tuesday, February 5th. Oppenheimer reiterated a “market perform” rating and issued a $900.00 price target (up from $860.00) on shares of AutoZone in a report on Friday, February 8th. ValuEngine downgraded AutoZone from a “buy” rating to a “hold” rating in a report on Thursday, January 24th. Credit Suisse Group reiterated a “hold” rating on shares of AutoZone in a report on Wednesday, February 20th. Finally, Morgan Stanley lifted their price target on AutoZone from $870.00 to $900.00 and gave the company an “equal weight” rating in a report on Wednesday, January 23rd. Five research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. AutoZone presently has an average rating of “Buy” and a consensus price target of $1,006.25.
AZO opened at $1,043.93 on Thursday. The firm has a market cap of $25.69 billion, a price-to-earnings ratio of 20.74, a PEG ratio of 1.38 and a beta of 0.67. AutoZone has a 52 week low of $597.00 and a 52 week high of $1,074.67.
In other news, VP Albert Saltiel sold 2,150 shares of the firm’s stock in a transaction on Wednesday, February 27th. The stock was sold at an average price of $912.11, for a total value of $1,961,036.50. Following the completion of the sale, the vice president now owns 2,308 shares of the company’s stock, valued at approximately $2,105,149.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Thomas B. Newbern sold 7,500 shares of the firm’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $995.92, for a total value of $7,469,400.00. Following the completion of the sale, the vice president now directly owns 12,073 shares of the company’s stock, valued at approximately $12,023,742.16. The disclosure for this sale can be found here. Insiders sold a total of 10,640 shares of company stock worth $10,370,907 over the last quarter. Company insiders own 2.80% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. W.E. Donoghue & Co. LLC acquired a new stake in shares of AutoZone in the 1st quarter worth $2,900,000. FMR LLC boosted its position in shares of AutoZone by 3.7% in the 4th quarter. FMR LLC now owns 1,403,413 shares of the company’s stock worth $1,176,537,000 after purchasing an additional 49,662 shares in the last quarter. State Treasurer State of Michigan boosted its position in shares of AutoZone by 413.3% in the 4th quarter. State Treasurer State of Michigan now owns 40,364 shares of the company’s stock worth $33,839,000 after purchasing an additional 32,500 shares in the last quarter. Canada Pension Plan Investment Board boosted its position in shares of AutoZone by 67.3% in the 4th quarter. Canada Pension Plan Investment Board now owns 48,110 shares of the company’s stock worth $40,329,000 after purchasing an additional 19,347 shares in the last quarter. Finally, Teachers Advisors LLC boosted its position in shares of AutoZone by 5.4% in the 3rd quarter. Teachers Advisors LLC now owns 41,373 shares of the company’s stock worth $32,093,000 after purchasing an additional 2,126 shares in the last quarter. 94.15% of the stock is owned by hedge funds and other institutional investors.
AutoZone, Inc retails and distributes automotive replacement parts and accessories. The company 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. Its 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, starters and alternators, thermostats, and water pumps.
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