Analysts Issue Forecasts for AutoZone, Inc.’s FY2019 Earnings (AZO)

AutoZone, Inc. (NYSE:AZO) – Equities research analysts at Oppenheimer lifted their FY2019 earnings per share (EPS) estimates for shares of AutoZone in a research note issued to investors on Tuesday, May 21st. Oppenheimer analyst B. Nagel now expects that the company will earn $62.71 per share for the year, up from their previous forecast of $61.65. Oppenheimer currently has a “Market Perform” rating and a $900.00 target price on the stock. Oppenheimer also issued estimates for AutoZone’s Q4 2019 earnings at $21.96 EPS and FY2020 earnings at $64.50 EPS.

AZO has been the topic of several other reports. Zacks Investment Research lowered shares of AutoZone from a “buy” rating to a “hold” rating in a report on Tuesday, February 5th. ValuEngine lowered shares of 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. Morgan Stanley increased their target price on shares of AutoZone from $870.00 to $900.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 23rd. Finally, Bank of America upgraded shares of AutoZone from a “neutral” rating to a “buy” rating in a report on Monday, March 11th. Five analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. AutoZone currently has a consensus rating of “Buy” and an average target price of $1,004.50.

AZO opened at $1,043.93 on Wednesday. The firm has a market capitalization of $24.49 billion, a price-to-earnings ratio of 20.74, a PEG ratio of 1.32 and a beta of 0.67. AutoZone has a twelve month low of $597.00 and a twelve month high of $1,074.67.

AutoZone (NYSE:AZO) last posted its earnings results on Tuesday, May 21st. The company reported $15.99 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $15.23 by $0.76. The company had revenue of $2.78 billion for the quarter, compared to analyst estimates of $2.77 billion. AutoZone had a net margin of 12.49% and a negative return on equity of 98.24%. The business’s revenue for the quarter was up 4.6% compared to the same quarter last year. During the same period last year, the business posted $13.42 earnings per share.

In other news, Director Earl G. Graves, Jr. sold 250 shares of the stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $1,038.68, for a total transaction of $259,670.00. Following the completion of the sale, the director now owns 4,357 shares of the company’s stock, valued at $4,525,528.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Albert Saltiel sold 2,150 shares of the stock in a transaction on Wednesday, February 27th. The stock was sold at an average price of $912.11, for a total transaction of $1,961,036.50. Following the sale, the vice president now directly owns 2,308 shares of the company’s stock, valued at approximately $2,105,149.88. The disclosure for this sale can be found here. Insiders have sold 10,640 shares of company stock valued at $10,370,907 in the last three months. 2.80% of the stock is owned by insiders.

Hedge funds have recently modified their holdings of the company. Berman Capital Advisors LLC bought a new position in AutoZone in the fourth quarter valued at $26,000. Advantage Investment Management LLC grew its position in AutoZone by 64.7% in the first quarter. Advantage Investment Management LLC now owns 28 shares of the company’s stock valued at $29,000 after purchasing an additional 11 shares in the last quarter. Penserra Capital Management LLC bought a new position in AutoZone in the fourth quarter valued at $30,000. Lindbrook Capital LLC bought a new position in AutoZone in the fourth quarter valued at $35,000. Finally, Legacy Bridge LLC bought a new position in AutoZone in the first quarter valued at $38,000. 95.81% of the stock is owned by institutional investors.

About AutoZone

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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Earnings History and Estimates for AutoZone (NYSE:AZO)

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