AutoZone, Inc. (NYSE:AZO) – Analysts at Wedbush decreased their Q4 2018 earnings per share estimates for shares of AutoZone in a report issued on Wednesday, May 23rd. Wedbush analyst S. Basham now expects that the company will post earnings of $17.17 per share for the quarter, down from their prior forecast of $17.80. Wedbush has a “Outperform” rating and a $680.00 price objective on the stock. Wedbush also issued estimates for AutoZone’s Q1 2019 earnings at $11.22 EPS, Q2 2019 earnings at $9.22 EPS, Q3 2019 earnings at $14.44 EPS, Q4 2019 earnings at $20.10 EPS and FY2019 earnings at $54.97 EPS.
Several other equities research analysts also recently commented on the stock. ValuEngine raised shares of AutoZone from a “sell” rating to a “hold” rating in a report on Thursday. Royal Bank of Canada dropped their price objective on shares of AutoZone to $668.00 and set a “market perform” rating on the stock in a report on Wednesday. Morgan Stanley dropped their price objective on shares of AutoZone from $750.00 to $700.00 and set an “equal weight” rating on the stock in a report on Wednesday. JPMorgan Chase & Co. dropped their price objective on shares of AutoZone from $900.00 to $800.00 and set an “overweight” rating on the stock in a report on Wednesday. Finally, Wells Fargo & Co reaffirmed a “buy” rating and set a $700.00 price objective on shares of AutoZone in a report on Tuesday. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. AutoZone has a consensus rating of “Hold” and a consensus price target of $724.30.
Shares of AutoZone opened at $636.99 on Friday, Marketbeat Ratings reports. The stock has a market capitalization of $16.95 billion, a P/E ratio of 14.80, a P/E/G ratio of 0.93 and a beta of 0.85. AutoZone has a fifty-two week low of $491.13 and a fifty-two week high of $797.89. The company has a current ratio of 0.98, a quick ratio of 0.15 and a debt-to-equity ratio of -3.79.
AutoZone (NYSE:AZO) last issued its quarterly earnings results on Tuesday, May 22nd. The company reported $13.42 earnings per share for the quarter, topping the Zacks’ consensus estimate of $12.99 by $0.43. The company had revenue of $2.26 billion for the quarter, compared to the consensus estimate of $2.71 billion. AutoZone had a net margin of 12.00% and a negative return on equity of 88.86%. The firm’s quarterly revenue was down 13.7% on a year-over-year basis. During the same period in the previous year, the firm earned $11.44 EPS.
Several institutional investors have recently made changes to their positions in AZO. Creative Planning lifted its holdings in shares of AutoZone by 5.0% in the fourth quarter. Creative Planning now owns 2,044 shares of the company’s stock worth $1,454,000 after buying an additional 97 shares in the last quarter. Schwab Charles Investment Management Inc. lifted its holdings in shares of AutoZone by 5.2% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 97,347 shares of the company’s stock worth $69,250,000 after buying an additional 4,812 shares in the last quarter. State of Alaska Department of Revenue lifted its holdings in shares of AutoZone by 107.4% in the fourth quarter. State of Alaska Department of Revenue now owns 3,708 shares of the company’s stock worth $2,636,000 after buying an additional 1,920 shares in the last quarter. Flagship Harbor Advisors LLC purchased a new stake in shares of AutoZone in the fourth quarter worth about $211,000. Finally, SG Americas Securities LLC lifted its holdings in shares of AutoZone by 316.8% in the fourth quarter. SG Americas Securities LLC now owns 5,627 shares of the company’s stock worth $4,003,000 after buying an additional 4,277 shares in the last quarter. 88.96% of the stock is currently owned by hedge funds and other institutional investors.
In other news, Director Douglas H. Brooks purchased 162 shares of the stock in a transaction dated Monday, April 16th. The shares were purchased at an average cost of $607.49 per share, with a total value of $98,413.38. Following the completion of the acquisition, the director now owns 1,904 shares in the company, valued at approximately $1,156,660.96. The transaction was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 2.60% of the company’s stock.
AutoZone declared that its board has authorized a stock buyback program on Tuesday, March 20th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the company to repurchase shares of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.
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.
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