AutoZone, Inc. (NYSE:AZO) – William Blair decreased their Q4 2019 earnings estimates for shares of AutoZone in a report issued on Tuesday, December 4th. William Blair analyst D. Hofkin now expects that the company will post earnings per share of $21.10 for the quarter, down from their previous estimate of $21.15.
AutoZone (NYSE:AZO) last announced its quarterly earnings results on Tuesday, December 4th. The company reported $13.47 earnings per share for the quarter, topping the consensus estimate of $12.21 by $1.26. The company had revenue of $2.64 billion for the quarter, compared to the consensus estimate of $2.64 billion. AutoZone had a negative return on equity of 102.31% and a net margin of 12.49%. The firm’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same period last year, the firm earned $10.00 EPS.
Other equities research analysts have also recently issued reports about the company. Argus raised their target price on AutoZone to $940.00 and gave the company a “buy” rating in a research report on Thursday. Credit Suisse Group raised their target price on AutoZone from $854.00 to $930.00 and gave the company an “outperform” rating in a research report on Thursday. Zacks Investment Research upgraded AutoZone from a “hold” rating to a “buy” rating and set a $860.00 target price on the stock in a research report on Tuesday, August 28th. Barclays restated a “buy” rating and set a $950.00 target price on shares of AutoZone in a research report on Wednesday. Finally, Royal Bank of Canada dropped their target price on AutoZone from $779.00 to $775.00 and set a “sector perform” rating on the stock in a research report on Wednesday, September 19th. Six investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. AutoZone presently has an average rating of “Buy” and a consensus target price of $866.74.
Shares of AZO opened at $868.68 on Thursday. AutoZone has a fifty-two week low of $590.76 and a fifty-two week high of $894.37. The stock has a market cap of $22.49 billion, a price-to-earnings ratio of 17.26, a P/E/G ratio of 1.23 and a beta of 0.89.
A number of institutional investors have recently modified their holdings of AZO. Massey Quick Simon & CO. LLC lifted its stake in AutoZone by 222.4% in the 3rd quarter. Massey Quick Simon & CO. LLC now owns 187 shares of the company’s stock valued at $145,000 after buying an additional 129 shares in the last quarter. Bronfman E.L. Rothschild L.P. lifted its stake in AutoZone by 197.5% in the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 235 shares of the company’s stock valued at $158,000 after buying an additional 156 shares in the last quarter. ELM Advisors LLC purchased a new position in AutoZone in the 3rd quarter valued at about $163,000. Flagship Harbor Advisors LLC purchased a new position in AutoZone in the 2nd quarter valued at about $173,000. Finally, Paragon Capital Management Ltd purchased a new position in AutoZone in the 2nd quarter valued at about $201,000. 92.10% of the stock is currently owned by hedge funds and other institutional investors.
In related news, VP Charles Pleas III sold 9,500 shares of the firm’s stock in a transaction dated Thursday, September 20th. The shares were sold at an average price of $759.85, for a total value of $7,218,575.00. Following the transaction, the vice president now directly owns 13,862 shares of the company’s stock, valued at approximately $10,533,040.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider William W. Graves sold 18,900 shares of the firm’s stock in a transaction dated Thursday, September 27th. The shares were sold at an average price of $776.37, for a total transaction of $14,673,393.00. Following the completion of the transaction, the insider now directly owns 3,450 shares in the company, valued at $2,678,476.50. The disclosure for this sale can be found here. Insiders sold a total of 60,487 shares of company stock worth $46,667,608 over the last ninety days. 2.80% of the stock is currently owned by corporate insiders.
AutoZone declared that its Board of Directors has authorized a share buyback plan on Wednesday, September 26th that authorizes the company to repurchase $1.25 billion in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 6.1% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its stock is undervalued.
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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