William Blair Brokers Boost Earnings Estimates for AutoZone, Inc. (AZO)

AutoZone, Inc. (NYSE:AZO) – Analysts at William Blair raised their FY2019 earnings per share (EPS) estimates for AutoZone in a report issued on Tuesday, May 21st. William Blair analyst D. Hofkin now expects that the company will post earnings of $62.50 per share for the year, up from their previous estimate 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 released its quarterly earnings results on Tuesday, May 21st. The company reported $15.99 EPS for the quarter, topping the Thomson Reuters’ consensus estimate 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 earned $13.42 earnings per share. The company’s quarterly revenue was up 4.6% compared to the same quarter last year.

Several other research analysts have also recently issued reports on AZO. Citigroup increased their price objective on AutoZone from $1,206.00 to $1,234.00 and gave the stock a “buy” rating in a research report on Wednesday. Wells Fargo & Co reiterated a “buy” rating and issued a $1,140.00 price objective on shares of AutoZone in a research report on Tuesday. Wedbush reiterated an “outperform” rating and issued a $1,100.00 price objective (up previously from $1,030.00) on shares of AutoZone in a research report on Wednesday. Zacks Investment Research cut AutoZone from a “buy” rating to a “hold” rating in a research report on Tuesday, February 5th. Finally, Barclays reiterated an “overweight” rating and issued a $1,050.00 price objective (up previously from $950.00) on shares of AutoZone in a research report on Wednesday, February 27th. Five research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. AutoZone currently has an average rating of “Buy” and an average target price of $1,006.25.

NYSE:AZO opened at $1,052.19 on Thursday. The firm has a market capitalization of $25.69 billion, a price-to-earnings ratio of 20.90, a price-to-earnings-growth ratio of 1.38 and a beta of 0.67. AutoZone has a 1 year low of $615.13 and a 1 year high of $1,074.67.

Several institutional investors and hedge funds have recently bought and sold shares of the stock. BlackRock Inc. boosted its stake in shares of AutoZone by 1.7% during the first quarter. BlackRock Inc. now owns 1,916,950 shares of the company’s stock valued at $1,963,187,000 after acquiring an additional 32,263 shares during the last quarter. FMR LLC boosted its stake in shares of AutoZone by 2.7% during the first 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 during the last quarter. Geode Capital Management LLC boosted its stake in shares of AutoZone by 30.4% during the first 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 during the last quarter. Janus Henderson Group PLC boosted its stake in shares of AutoZone by 27.8% during the first 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 during the last quarter. Finally, Northern Trust Corp boosted its stake in shares of AutoZone by 4.4% during the first 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 during the last quarter. 94.15% of the stock is currently owned by institutional investors and hedge funds.

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 transaction, the vice president now owns 2,308 shares in the company, valued at $2,105,149.88. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, VP Thomas B. Newbern sold 7,500 shares of the firm’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $995.92, for a total value of $7,469,400.00. Following the completion of the transaction, the vice president now 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. In the last 90 days, insiders sold 13,137 shares of company stock valued at $12,963,966. Company insiders own 2.80% of the company’s stock.

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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