AutoZone (NYSE:AZO) – Stock analysts at Jefferies Group cut their Q3 2018 EPS estimates for AutoZone in a report released on Wednesday, April 18th. Jefferies Group analyst B. Jordan now anticipates that the company will earn $13.01 per share for the quarter, down from their previous estimate of $13.36. Jefferies Group also issued estimates for AutoZone’s FY2018 earnings at $49.59 EPS and Q3 2019 earnings at $14.94 EPS.
AutoZone (NYSE:AZO) last issued its earnings results on Tuesday, February 27th. The company reported $8.47 earnings per share for the quarter, missing the Zacks’ consensus estimate of $8.81 by ($0.34). AutoZone had a negative return on equity of 88.86% and a net margin of 12.00%. The company had revenue of $2.41 billion for the quarter, compared to the consensus estimate of $2.39 billion. During the same quarter in the prior year, the company posted $7.75 EPS. AutoZone’s revenue was up 5.4% compared to the same quarter last year.
A number of other brokerages have also weighed in on AZO. Stephens set a $840.00 target price on shares of AutoZone and gave the stock a “hold” rating in a research report on Tuesday, January 16th. Argus upped their target price on shares of AutoZone from $675.00 to $875.00 and gave the stock a “buy” rating in a research report on Friday, February 2nd. Credit Suisse Group set a $790.00 target price on shares of AutoZone and gave the stock a “hold” rating in a research report on Thursday, January 4th. Zacks Investment Research upgraded shares of AutoZone from a “hold” rating to a “buy” rating and set a $819.00 target price for the company in a research report on Tuesday, February 6th. Finally, Morgan Stanley dropped their target price on shares of AutoZone from $800.00 to $750.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 28th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and eleven have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $758.72.
Shares of NYSE:AZO opened at $603.82 on Friday. The company has a debt-to-equity ratio of -3.79, a current ratio of 0.98 and a quick ratio of 0.15. AutoZone has a fifty-two week low of $491.13 and a fifty-two week high of $797.89. The firm has a market cap of $16,583.05, a P/E ratio of 12.96, a P/E/G ratio of 0.98 and a beta of 0.84.
AutoZone declared that its board has approved 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 reacquire shares of its stock through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.
In other news, Director Douglas H. Brooks bought 162 shares of the stock in a transaction dated Monday, April 16th. The stock was purchased at an average price of $607.49 per share, for a total transaction of $98,413.38. Following the acquisition, the director now owns 1,904 shares of the company’s stock, valued at $1,156,660.96. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 2.60% of the stock is currently owned by company insiders.
Several institutional investors have recently added to or reduced their stakes in AZO. First Republic Investment Management Inc. bought a new stake in shares of AutoZone in the 4th quarter worth about $202,000. Flagship Harbor Advisors LLC purchased a new position in AutoZone in the 4th quarter worth about $211,000. Bfsg LLC purchased a new position in AutoZone in the 4th quarter worth about $213,000. Paragon Capital Management Ltd purchased a new position in AutoZone in the 4th quarter worth about $213,000. Finally, John G Ullman & Associates Inc. purchased a new position in AutoZone in the 4th quarter worth about $213,000. Hedge funds and other institutional investors own 95.86% of the company’s stock.
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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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