AutoZone, Inc. (NYSE:AZO) – Equities researchers at Oppenheimer Holdings decreased their FY2017 earnings per share estimates for shares of AutoZone in a research note issued to investors on Thursday. Oppenheimer Holdings analyst B. Nagel now forecasts that the company will post earnings per share of $43.77 for the year, down from their prior estimate of $44.52. Oppenheimer Holdings currently has a “Outperform” rating on the stock. Oppenheimer Holdings also issued estimates for AutoZone’s Q4 2017 earnings at $15.05 EPS, Q1 2018 earnings at $9.88 EPS, Q2 2018 earnings at $8.50 EPS and Q3 2018 earnings at $12.30 EPS.

Other research analysts have also issued reports about the company. Goldman Sachs Group, Inc. (The) raised AutoZone from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $615.62 to $662.00 in a research report on Tuesday, May 30th. They noted that the move was a valuation call. Citigroup Inc. decreased their target price on AutoZone from $920.00 to $750.00 and set a “buy” rating for the company in a research report on Thursday, May 25th. BTIG Research reaffirmed a “buy” rating and issued a $825.00 target price on shares of AutoZone in a research report on Wednesday, May 24th. CIBC reaffirmed a “buy” rating and issued a $900.00 target price on shares of AutoZone in a research report on Wednesday, May 24th. Finally, ValuEngine raised AutoZone from a “hold” rating to a “buy” rating in a research report on Wednesday, May 24th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $775.91.

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Shares of AutoZone (AZO) opened at 511.46 on Friday. The firm has a 50 day moving average price of $562.64 and a 200 day moving average price of $677.76. AutoZone has a one year low of $491.13 and a one year high of $818.00. The company has a market capitalization of $14.34 billion, a P/E ratio of 11.81 and a beta of 0.62.

AutoZone (NYSE:AZO) last announced its quarterly earnings results on Tuesday, May 23rd. The company reported $11.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $12.00 by $0.56. AutoZone had a negative return on equity of 70.52% and a net margin of 11.82%. The business had revenue of $2.62 billion during the quarter, compared to the consensus estimate of $2.70 billion. During the same quarter last year, the company earned $10.77 earnings per share. The firm’s revenue was up 1.0% compared to the same quarter last year.

In other AutoZone news, Director William Andrew Mckenna bought 300 shares of the stock in a transaction on Thursday, July 13th. The shares were acquired at an average price of $507.00 per share, with a total value of $152,100.00. Following the acquisition, the director now directly owns 5,131 shares of the company’s stock, valued at approximately $2,601,417. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Earl G. Graves, Jr. sold 1,000 shares of the business’s stock in a transaction on Thursday, June 8th. The shares were sold at an average price of $602.50, for a total transaction of $602,500.00. Following the sale, the director now directly owns 4,431 shares in the company, valued at approximately $2,669,677.50. The disclosure for this sale can be found here. Insiders own 2.60% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BLS Capital Fondsmaeglerselskab A S purchased a new position in AutoZone during the fourth quarter valued at $12,767,000. Dimensional Fund Advisors LP boosted its position in AutoZone by 0.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 56,575 shares of the company’s stock valued at $44,689,000 after buying an additional 367 shares during the last quarter. Quadrature Capital Ltd boosted its position in AutoZone by 6.8% in the fourth quarter. Quadrature Capital Ltd now owns 10,513 shares of the company’s stock valued at $8,318,000 after buying an additional 672 shares during the last quarter. UBS Asset Management Americas Inc. boosted its position in AutoZone by 0.5% in the fourth quarter. UBS Asset Management Americas Inc. now owns 105,543 shares of the company’s stock valued at $83,357,000 after buying an additional 544 shares during the last quarter. Finally, Kentucky Retirement Systems purchased a new position in AutoZone during the fourth quarter valued at $1,654,000. 96.79% of the stock is currently owned by hedge funds and other institutional investors.

About AutoZone

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.

Earnings History and Estimates for AutoZone (NYSE:AZO)

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