Oppenheimer Holdings, Inc. Cuts AutoZone, Inc. (AZO) Price Target to $0.00
AutoZone, Inc. (NYSE:AZO) had its price target reduced by stock analysts at Oppenheimer Holdings, Inc. in a research note issued to investors on Thursday, July 20th. The firm presently has an “outperform” rating on the stock. Oppenheimer Holdings also issued estimates for AutoZone’s Q4 2017 earnings at $15.05 EPS, FY2017 earnings at $43.77 EPS, Q1 2018 earnings at $9.88 EPS, Q2 2018 earnings at $8.50 EPS and Q3 2018 earnings at $12.30 EPS.
A number of other brokerages have also commented on AZO. Raymond James Financial, Inc. lowered AutoZone from a “strong-buy” rating to a “market perform” rating in a report on Tuesday, May 23rd. Royal Bank Of Canada decreased their target price on AutoZone from $829.00 to $753.00 and set a “sector perform” rating for the company in a research note on Monday, May 22nd. Morgan Stanley decreased their target price on AutoZone from $825.00 to $680.00 and set an “overweight” rating for the company in a research note on Thursday, May 25th. Citigroup Inc. cut AutoZone from a “strong-buy” rating to a “market perform” rating in a research note on Tuesday, May 23rd. Finally, Stephens cut AutoZone from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, May 24th. Two research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $775.91.
Shares of AutoZone (AZO) opened at 530.97 on Thursday. The stock has a market capitalization of $14.88 billion, a price-to-earnings ratio of 12.27 and a beta of 0.61. AutoZone has a 12 month low of $491.13 and a 12 month high of $813.70. The firm’s 50 day moving average is $535.93 and its 200 day moving average is $658.60.
AutoZone (NYSE:AZO) last issued its quarterly earnings results on Tuesday, May 23rd. The company reported $11.44 EPS for the quarter, missing analysts’ consensus estimates of $12.00 by $0.56. The business had revenue of $2.62 billion for the quarter, compared to analyst estimates of $2.70 billion. AutoZone had a net margin of 11.82% and a negative return on equity of 70.52%. AutoZone’s revenue for the quarter was up 1.0% on a year-over-year basis. During the same period last year, the business posted $10.77 earnings per share. On average, equities analysts predict that AutoZone will post $43.99 earnings per share for the current fiscal year.
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In other news, Director Earl G. Graves, Jr. sold 1,000 shares of the firm’s stock in a transaction dated Thursday, June 8th. The stock was sold at an average price of $602.50, for a total transaction of $602,500.00. Following the completion of the sale, the director now directly owns 4,431 shares of the company’s stock, valued at approximately $2,669,677.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director William Andrew Mckenna purchased 300 shares of the business’s stock in a transaction dated Thursday, July 13th. The shares were purchased at an average cost of $507.00 per share, with a total value of $152,100.00. Following the completion of the purchase, the director now directly owns 5,131 shares in the company, valued at $2,601,417. The disclosure for this purchase can be found here. 2.60% of the stock is currently owned by corporate insiders.
Large investors have recently bought and sold shares of the company. American Beacon Advisors Inc. purchased a new stake in AutoZone during the first quarter worth $104,000. Alpha Windward LLC increased its stake in AutoZone by 0.8% in the first quarter. Alpha Windward LLC now owns 251 shares of the company’s stock worth $181,000 after buying an additional 2 shares during the period. Colony Group LLC purchased a new stake in AutoZone during the first quarter worth $205,000. Global X Management Co. LLC increased its stake in AutoZone by 26.5% in the first quarter. Global X Management Co. LLC now owns 286 shares of the company’s stock worth $207,000 after buying an additional 60 shares during the period. Finally, Fox Run Management L.L.C. purchased a new stake in AutoZone during the first quarter worth $213,000. 97.11% of the stock is owned by institutional investors.
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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