Today The Q2 2017 EPS Estimates for AutoZone, Inc. (AZO) Decreased by Wedbush

Today The Q2 2017 EPS Estimates for AutoZone, Inc. (AZO) Decreased by Wedbush

AutoZone, Inc. (NYSE:AZO) – Equities research analysts at Wedbush reduced their Q2 2017 EPS estimates for AutoZone in a research note issued to investors on Thursday. Wedbush analyst S. Basham now forecasts that the firm will post earnings of $8.15 per share for the quarter, down from their prior estimate of $8.26. Wedbush has a “Outperform” rating on the stock. Wedbush also issued estimates for AutoZone’s Q2 2018 earnings at $9.18 EPS.

Several other brokerages also recently commented on AZO. Atlantic Securities assumed coverage on AutoZone in a research note on Wednesday, December 14th. They set a “neutral” rating and a $864.00 target price for the company. Zacks Investment Research downgraded AutoZone from a “buy” rating to a “hold” rating in a research note on Tuesday, November 29th. Credit Suisse Group reiterated a “buy” rating and set a $814.00 target price on shares of AutoZone in a research note on Wednesday, November 23rd. Vetr upgraded AutoZone from a “hold” rating to a “strong-buy” rating and set a $887.00 target price for the company in a research note on Wednesday, December 14th. Finally, Guggenheim assumed coverage on AutoZone in a research note on Wednesday, January 18th. They set a “buy” rating and a $880.00 target price for the company. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $868.67.

Shares of AutoZone (NYSE:AZO) opened at 738.00 on Monday. AutoZone has a 52 week low of $681.01 and a 52 week high of $819.54. The firm has a market capitalization of $21.12 billion, a price-to-earnings ratio of 17.64 and a beta of 0.62. The stock has a 50 day moving average price of $790.05 and a 200-day moving average price of $773.54.

AutoZone (NYSE:AZO) last released its quarterly earnings data on Tuesday, December 6th. The company reported $9.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $9.31 by $0.05. AutoZone had a negative return on equity of 69.22% and a net margin of 11.77%. The firm earned $2.50 billion during the quarter, compared to analyst estimates of $2.49 billion. During the same period in the prior year, the company posted $8.29 earnings per share. The business’s revenue for the quarter was up 3.9% compared to the same quarter last year.

A number of institutional investors have recently modified their holdings of the company. Todd Asset Management LLC boosted its position in shares of AutoZone by 3,280.0% in the second quarter. Todd Asset Management LLC now owns 17,914 shares of the company’s stock worth $14,221,000 after buying an additional 17,384 shares during the last quarter. Evercore Wealth Management LLC boosted its position in shares of AutoZone by 0.5% in the second quarter. Evercore Wealth Management LLC now owns 80,995 shares of the company’s stock worth $64,297,000 after buying an additional 414 shares during the last quarter. CAM Group Holding A S boosted its position in shares of AutoZone by 40.5% in the second quarter. CAM Group Holding A S now owns 1,527 shares of the company’s stock worth $1,213,000 after buying an additional 440 shares during the last quarter. Sumitomo Mitsui Asset Management Company LTD boosted its position in shares of AutoZone by 1.1% in the second quarter. Sumitomo Mitsui Asset Management Company LTD now owns 2,320 shares of the company’s stock worth $1,841,000 after buying an additional 26 shares during the last quarter. Finally, LMR Partners LLP boosted its position in shares of AutoZone by 15.2% in the second quarter. LMR Partners LLP now owns 1,663 shares of the company’s stock worth $1,320,000 after buying an additional 219 shares during the last quarter. 95.90% of the stock is owned by institutional investors and hedge funds.

In other news, insider James C. Griffith sold 660 shares of the business’s stock in a transaction on Wednesday, January 11th. The stock was sold at an average price of $789.79, for a total transaction of $521,261.40. Following the completion of the transaction, the insider now owns 735 shares of the company’s stock, valued at approximately $580,495.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman William C. Rhodes III sold 32,000 shares of the business’s stock in a transaction on Wednesday, December 7th. The stock was sold at an average price of $793.04, for a total value of $25,377,280.00. Following the transaction, the chairman now directly owns 50,129 shares of the company’s stock, valued at approximately $39,754,302.16. The disclosure for this sale can be found here. Insiders have sold a total of 38,260 shares of company stock valued at $30,427,541 in the last three months. 2.60% of the stock is owned by insiders.

AutoZone Company Profile

Autozone, Inc is a retailer and distributor of automotive replacement parts and accessories in the United States. The Company operates through the Auto Parts Locations segment. The Auto Parts Locations segment is a retailer and distributor of automotive parts and accessories. As of August 27, 2016, the Company operated through 5,814 locations in the United States, Puerto Rico, Mexico and Brazil.

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