Equities research analysts expect that AutoZone, Inc. (NYSE:AZO) will report $2.77 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Eight analysts have made estimates for AutoZone’s earnings, with estimates ranging from $2.75 billion to $2.79 billion. AutoZone posted sales of $2.66 billion in the same quarter last year, which would indicate a positive year over year growth rate of 4.1%. The business is scheduled to report its next earnings results on Tuesday, May 28th.

On average, analysts expect that AutoZone will report full year sales of $11.81 billion for the current year, with estimates ranging from $11.75 billion to $11.87 billion. For the next financial year, analysts expect that the business will post sales of $12.06 billion, with estimates ranging from $11.96 billion to $12.12 billion. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for AutoZone.

AutoZone (NYSE:AZO) last released its earnings results on Tuesday, February 26th. The company reported $11.49 earnings per share for the quarter, topping the consensus estimate of $9.97 by $1.52. AutoZone had a negative return on equity of 98.24% and a net margin of 12.49%. The business had revenue of $2.45 billion during the quarter, compared to the consensus estimate of $2.45 billion. During the same period last year, the company earned $8.47 earnings per share. The business’s revenue for the quarter was up 1.6% compared to the same quarter last year.

AZO has been the topic of several research reports. Bank of America upgraded AutoZone from a “neutral” rating to a “buy” rating in a research note on Monday, March 11th. Morgan Stanley raised their price target on AutoZone from $870.00 to $900.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 23rd. Credit Suisse Group restated a “hold” rating on shares of AutoZone in a research note on Wednesday, February 20th. Wedbush restated an “outperform” rating and set a $1,030.00 price target (up previously from $970.00) on shares of AutoZone in a research note on Wednesday, February 27th. Finally, Deutsche Bank raised their price target on AutoZone from $960.00 to $1,035.00 and gave the company a “buy” rating in a research note on Wednesday, February 27th. Five analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $964.89.

In other AutoZone news, Director Earl G. Graves, Jr. sold 250 shares of AutoZone stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $1,038.68, for a total value of $259,670.00. Following the transaction, the director now owns 4,357 shares in the company, valued at $4,525,528.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Albert Saltiel sold 2,150 shares of the firm’s stock in a transaction dated Wednesday, February 27th. The stock was sold at an average price of $912.11, for a total value of $1,961,036.50. Following the completion of the sale, the vice president now directly owns 2,308 shares of the company’s stock, valued at approximately $2,105,149.88. The disclosure for this sale can be found here. Insiders sold 10,640 shares of company stock worth $10,370,907 in the last quarter. 2.80% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of AZO. JPMorgan Chase & Co. grew its holdings in AutoZone by 4.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,034,551 shares of the company’s stock valued at $1,578,202,000 after buying an additional 84,961 shares in the last quarter. BlackRock Inc. increased its holdings in AutoZone by 0.8% during the 4th quarter. BlackRock Inc. now owns 1,884,687 shares of the company’s stock worth $1,580,008,000 after purchasing an additional 14,276 shares during the period. FMR LLC increased its holdings in AutoZone by 3.7% during the 4th quarter. FMR LLC now owns 1,403,413 shares of the company’s stock worth $1,176,537,000 after purchasing an additional 49,662 shares during the period. Geode Capital Management LLC increased its holdings in AutoZone by 4.3% during the 4th quarter. Geode Capital Management LLC now owns 353,880 shares of the company’s stock worth $296,182,000 after purchasing an additional 14,661 shares during the period. Finally, Two Sigma Advisers LP increased its holdings in AutoZone by 766.3% during the 4th quarter. Two Sigma Advisers LP now owns 271,957 shares of the company’s stock worth $227,992,000 after purchasing an additional 240,565 shares during the period. 95.06% of the stock is owned by institutional investors and hedge funds.

Shares of AutoZone stock traded up $16.28 during trading on Friday, hitting $1,051.48. 8,243 shares of the stock traded hands, compared to its average volume of 315,103. The firm has a market cap of $25.76 billion, a P/E ratio of 20.93, a P/E/G ratio of 1.41 and a beta of 0.69. AutoZone has a 52-week low of $595.29 and a 52-week high of $1,074.67.

AutoZone Company Profile

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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Earnings History and Estimates for AutoZone (NYSE:AZO)

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