AutoZone, Inc. (NYSE:AZO) – Stock analysts at Jefferies Financial Group issued their Q1 2020 earnings estimates for shares of AutoZone in a research note issued on Tuesday, September 18th, according to Zacks Investment Research. Jefferies Financial Group analyst B. Jordan expects that the company will earn $13.54 per share for the quarter. Jefferies Financial Group also issued estimates for AutoZone’s Q2 2020 earnings at $11.32 EPS and Q3 2020 earnings at $15.34 EPS.

AutoZone (NYSE:AZO) last posted its quarterly earnings data on Tuesday, September 18th. The company reported $18.54 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $17.92 by $0.62. The business had revenue of $3.56 billion during the quarter, compared to the consensus estimate of $3.60 billion. AutoZone had a negative return on equity of 99.70% and a net margin of 11.92%. AutoZone’s quarterly revenue was up 1.3% on a year-over-year basis. During the same period last year, the company earned $15.27 earnings per share.

Several other brokerages have also recently commented on AZO. Argus reduced their price target on AutoZone to $820.00 and set a “buy” rating for the company in a research report on Thursday, August 30th. Zacks Investment Research raised AutoZone from a “hold” rating to a “buy” rating and set a $860.00 price target for the company in a research report on Tuesday, August 28th. Stephens reissued a “buy” rating and set a $825.00 price target on shares of AutoZone in a research report on Wednesday, September 19th. They noted that the move was a valuation call. JPMorgan Chase & Co. increased their price target on AutoZone to $880.00 and gave the company an “overweight” rating in a research report on Wednesday, September 19th. Finally, Deutsche Bank raised AutoZone from a “hold” rating to a “buy” rating and increased their price target for the company from $675.00 to $805.00 in a research report on Wednesday, August 1st. Nine investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. AutoZone currently has a consensus rating of “Buy” and an average price target of $773.95.

Shares of NYSE:AZO traded up $5.95 during mid-day trading on Friday, reaching $774.96. 343,101 shares of the stock were exchanged, compared to its average volume of 355,464. The company has a debt-to-equity ratio of -3.29, a quick ratio of 0.14 and a current ratio of 0.92. The company has a market cap of $20.51 billion, a PE ratio of 15.39, a PEG ratio of 1.10 and a beta of 0.88. AutoZone has a one year low of $560.82 and a one year high of $797.89.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. American Century Companies Inc. bought a new position in AutoZone during the 2nd quarter worth $120,225,000. JPMorgan Chase & Co. increased its stake in AutoZone by 10.2% during the 1st quarter. JPMorgan Chase & Co. now owns 1,792,694 shares of the company’s stock worth $1,162,902,000 after acquiring an additional 165,885 shares during the period. Morgan Stanley increased its stake in AutoZone by 435.3% during the 2nd quarter. Morgan Stanley now owns 156,439 shares of the company’s stock worth $104,960,000 after acquiring an additional 127,214 shares during the period. Unigestion Holding SA bought a new position in AutoZone during the 2nd quarter worth $66,555,000. Finally, Point72 Asset Management L.P. bought a new position in AutoZone during the 2nd quarter worth $61,390,000. Institutional investors own 91.62% of the company’s stock.

In other news, Chairman William C. Rhodes III sold 23,700 shares of the firm’s stock in a transaction that occurred on Thursday, September 27th. The stock was sold at an average price of $780.06, for a total value of $18,487,422.00. Following the completion of the sale, the chairman now directly owns 37,918 shares of the company’s stock, valued at $29,578,315.08. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider William W. Graves sold 18,900 shares of the stock in a transaction that occurred on Thursday, September 27th. The stock was sold at an average price of $776.37, for a total value of $14,673,393.00. Following the transaction, the insider now owns 3,450 shares in the company, valued at approximately $2,678,476.50. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 54,250 shares of company stock valued at $41,922,875. Insiders own 2.80% of the company’s stock.

AutoZone declared that its board has approved a share buyback program on Wednesday, September 26th that authorizes the company to buyback $1.25 billion in outstanding shares. This buyback authorization authorizes the company to reacquire up to 6.1% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.

About AutoZone

AutoZone, Inc retails and distributes automotive replacement parts and accessories. It 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. The company's 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, thermostats, starters and alternators, and water pumps.

See Also: Book Value Per Share – BVPS

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Earnings History and Estimates for AutoZone (NYSE:AZO)

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