Wall Street brokerages predict that AutoZone, Inc. (NYSE:AZO) will report $2.71 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Nine analysts have made estimates for AutoZone’s earnings, with the highest sales estimate coming in at $2.78 billion and the lowest estimate coming in at $2.65 billion. AutoZone reported sales of $2.62 billion in the same quarter last year, which would suggest a positive year-over-year growth rate of 3.4%. The firm is scheduled to issue its next quarterly earnings report on Tuesday, May 22nd.
On average, analysts expect that AutoZone will report full year sales of $2.71 billion for the current financial year, with estimates ranging from $11.16 billion to $11.45 billion. For the next year, analysts anticipate that the business will post sales of $11.68 billion per share, with estimates ranging from $11.32 billion to $12.05 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for AutoZone.
AutoZone (NYSE:AZO) last announced its earnings results on Tuesday, February 27th. The company reported $8.47 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $8.81 by ($0.34). AutoZone had a negative return on equity of 85.64% and a net margin of 12.00%. The business had revenue of $2.41 billion for the quarter, compared to analyst estimates of $2.39 billion. During the same quarter in the previous year, the company earned $7.75 EPS. The business’s revenue for the quarter was up 5.4% on a year-over-year basis.
AZO has been the topic of a number of analyst reports. Barclays increased their target price on shares of AutoZone from $710.00 to $800.00 in a research report on Thursday, December 7th. Deutsche Bank increased their target price on shares of AutoZone from $625.00 to $700.00 in a research report on Thursday, December 7th. UBS Group restated a “buy” rating and set a $750.00 target price (up previously from $655.00) on shares of AutoZone in a research report on Wednesday, November 29th. Citigroup increased their target price on shares of AutoZone to $820.00 and gave the stock a “buy” rating in a research report on Wednesday, December 6th. Finally, Argus increased 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. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and eleven have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $754.28.
In related news, insider Albert Saltiel sold 2,150 shares of the stock in a transaction that occurred on Thursday, December 21st. The shares were sold at an average price of $703.09, for a total transaction of $1,511,643.50. Following the sale, the insider now owns 2,276 shares in the company, valued at approximately $1,600,232.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider William W. Graves sold 10,500 shares of the stock in a transaction that occurred on Wednesday, January 3rd. The stock was sold at an average price of $744.78, for a total transaction of $7,820,190.00. Following the sale, the insider now owns 12,574 shares in the company, valued at approximately $9,364,863.72. The disclosure for this sale can be found here. Insiders have sold a total of 18,887 shares of company stock worth $14,165,983 in the last quarter. 2.60% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Reliance Trust Co. of Delaware boosted its position in AutoZone by 14.4% in the fourth quarter. Reliance Trust Co. of Delaware now owns 588 shares of the company’s stock valued at $418,000 after buying an additional 74 shares in the last quarter. Pinebridge Investments L.P. boosted its position in AutoZone by 13.5% in the fourth quarter. Pinebridge Investments L.P. now owns 656 shares of the company’s stock valued at $467,000 after buying an additional 78 shares in the last quarter. Citizens Financial Group Inc. RI boosted its position in AutoZone by 5.2% in the third quarter. Citizens Financial Group Inc. RI now owns 1,734 shares of the company’s stock valued at $1,032,000 after buying an additional 86 shares in the last quarter. Bbva Compass Bancshares Inc. boosted its position in AutoZone by 22.5% in the fourth quarter. Bbva Compass Bancshares Inc. now owns 469 shares of the company’s stock valued at $334,000 after buying an additional 86 shares in the last quarter. Finally, Osborne Partners Capital Management LLC boosted its position in AutoZone by 1.3% in the fourth quarter. Osborne Partners Capital Management LLC now owns 7,170 shares of the company’s stock valued at $5,101,000 after buying an additional 90 shares in the last quarter. Institutional investors and hedge funds own 94.47% of the company’s stock.
Shares of AutoZone (AZO) traded up $4.80 during trading hours on Wednesday, hitting $659.40. 388,792 shares of the company’s stock were exchanged, compared to its average volume of 490,378. AutoZone has a 1 year low of $491.13 and a 1 year high of $797.89. The firm has a market cap of $18,170.00, a price-to-earnings ratio of 16.06, a PEG ratio of 1.05 and a beta of 0.85. The company has a debt-to-equity ratio of -3.27, a quick ratio of 0.14 and a current ratio of 0.93.
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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 October 27, 2016, the Company operated through 6,029 locations in the United States, Puerto Rico, Mexico and Brazil.
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