AutoZone, Inc. (NYSE:AZO) – Equities research analysts at William Blair lifted their FY2019 earnings estimates for AutoZone in a research note issued on Tuesday, May 21st, according to Zacks Investment Research. William Blair analyst D. Hofkin now forecasts 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 earnings results on Tuesday, May 21st. The company reported $15.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $15.23 by $0.76. The company had revenue of $2.78 billion during the quarter, compared to analyst estimates of $2.77 billion. AutoZone had a net margin of 12.70% and a negative return on equity of 97.19%. The company’s revenue for the quarter was up 4.6% on a year-over-year basis. During the same quarter last year, the business posted $13.42 EPS.
A number of other research analysts also recently weighed in on the stock. Zacks Investment Research upgraded shares of AutoZone from a “hold” rating to a “buy” rating and set a $1,156.00 price target on the stock in a report on Friday, June 7th. Citigroup raised their price target on shares of AutoZone from $1,206.00 to $1,234.00 and gave the company a “buy” rating in a report on Wednesday, May 22nd. Wedbush restated an “outperform” rating and set a $1,100.00 price target (up previously from $1,030.00) on shares of AutoZone in a report on Wednesday, May 22nd. Wells Fargo & Co restated a “buy” rating and set a $1,140.00 price target on shares of AutoZone in a report on Tuesday, May 21st. Finally, Credit Suisse Group set a $1,131.00 price target on shares of AutoZone and gave the company a “positive” rating in a report on Tuesday, April 23rd. They noted that the move was a valuation call. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $1,017.31.
Shares of AutoZone stock traded up $5.92 during midday trading on Thursday, reaching $1,119.87. 192,400 shares of the company’s stock traded hands, compared to its average volume of 307,982. The company has a market capitalization of $27.15 billion, a P/E ratio of 22.25, a P/E/G ratio of 1.45 and a beta of 0.64. AutoZone has a 52 week low of $662.17 and a 52 week high of $1,121.37.
In related news, Director Earl G. Graves, Jr. sold 250 shares of AutoZone stock in a transaction on Friday, May 31st. The shares were sold at an average price of $1,021.86, for a total value of $255,465.00. Following the transaction, the director now owns 4,357 shares in the company, valued at approximately $4,452,244.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Thomas B. Newbern sold 7,500 shares of the business’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $995.92, for a total transaction of $7,469,400.00. Following the transaction, the vice president now owns 12,073 shares in the company, valued at approximately $12,023,742.16. The disclosure for this sale can be found here. Insiders sold a total of 32,237 shares of company stock worth $33,558,782 in the last quarter. Insiders own 2.80% of the company’s stock.
Several large investors have recently bought and sold shares of the company. BlackRock Inc. increased its holdings in shares of AutoZone by 1.7% during the 1st quarter. BlackRock Inc. now owns 1,916,950 shares of the company’s stock worth $1,963,187,000 after purchasing an additional 32,263 shares during the period. FMR LLC boosted its position in shares of AutoZone by 2.7% during the 1st quarter. FMR LLC now owns 1,441,475 shares of the company’s stock valued at $1,476,243,000 after acquiring an additional 38,062 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of AutoZone by 30.4% during the 1st quarter. Geode Capital Management LLC now owns 461,370 shares of the company’s stock valued at $472,187,000 after acquiring an additional 107,490 shares in the last quarter. Janus Henderson Group PLC boosted its position in shares of AutoZone by 27.8% during the 1st quarter. Janus Henderson Group PLC now owns 333,246 shares of the company’s stock valued at $341,286,000 after acquiring an additional 72,455 shares in the last quarter. Finally, Northern Trust Corp boosted its position in shares of AutoZone by 4.4% during the 1st quarter. Northern Trust Corp now owns 316,440 shares of the company’s stock valued at $324,074,000 after acquiring an additional 13,478 shares in the last quarter. Institutional investors own 92.98% of the company’s stock.
AutoZone Company Profile
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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