AutoZone, Inc. (NYSE:AZO – Get Rating) – Equity research analysts William Blair raised their fiscal 2022 earnings estimates for AutoZone in a research note released Wednesday, May 25. William Blair analyst D. Hofkin now expects the company to earn $114.50 per share for the year, up from its previous estimate of $111.50. William Blair also released estimates for AutoZone’s fourth quarter 2022 earnings at $38.02 EPS and full year 2023 earnings at $123.00 EPS.
Several other equity research analysts have also recently weighed in on the company. StockNews.com supported AutoZone’s coverage in a Thursday, March 31 research note. They set a “buy” rating on the stock. Argus upgraded AutoZone from a “hold” rating to a “buy” rating and set a target price of $2,210.00 for the company in a Tuesday, March 29 report. Zacks Investment Research downgraded AutoZone from a “strong buy” rating to a “hold” rating and set a price target of $2,096.00 for the stock. in a research report on Tuesday, February 8. JPMorgan Chase & Co. raised its price target on AutoZone from $2,175.00 to $2,200.00 and gave the stock an “overweight” rating in a Wednesday, March 2 research report. Finally, Truist Financial cut its target price on AutoZone from $2,215.00 to $2,174.00 and set a “buy” rating on the stock in a research report Wednesday. One financial analyst gave the stock a sell rating, seven gave the company a hold rating and thirteen gave the company a buy rating. According to data from MarketBeat.com, AutoZone has an average rating of “Buy” and an average price target of $2,063.47.
AZO stock opened at $1,964.66 on Thursday. The company has a market capitalization of $39.00 billion, a PE ratio of 17.83, a growth price-earnings ratio of 1.50 and a beta of 0.90. The company has a 50-day moving average of $2,037.74 and a 200-day moving average of $1,975.98. AutoZone has a 12-month low of $1,367.96 and a 12-month high of $2,267.40.
AutoZone (NYSE:AZO – Get Rating) last released its quarterly earnings data on Tuesday, May 24. The company reported earnings per share (EPS) of $29.03 for the quarter, beating analyst consensus estimates of $25.70 by $3.33. The company posted revenue of $3.87 billion in the quarter, versus $3.71 billion expected by analysts. AutoZone had a negative return on equity of 109.21% and a net margin of 15.44%. The company’s revenue for the quarter increased by 5.9% compared to the same quarter last year. During the same period of the previous year, the company achieved EPS of $26.48.
Several institutional investors and hedge funds have recently increased or reduced their stake in AZO. Comprehensive Financial Consultants Institutional Inc. bought a new position in AutoZone in the fourth quarter worth about $27,000. Riverview Trust Co bought a new position in shares of AutoZone in Q1 worth approximately $27,000. Allworth Financial LP bought a new position in shares of AutoZone in Q4 worth approximately $29,000. Tcwp LLC purchased a new equity stake in AutoZone during Q1 for approximately $30,000. Finally, CVA Family Office LLC purchased a new equity stake in AutoZone during Q4 for approximately $31,000. 95.97% of the shares are currently held by institutional investors and hedge funds.
In other AutoZone news, Executive Vice President Philip B. Daniele sold 200 shares of the company in a trade on Wednesday, March 16. The shares were sold at an average price of $1,950.00, for a total transaction of $390,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Additionally, Executive Vice President Philip B. Daniele sold 100 shares of the company in a trade dated Friday, March 4. The shares were sold at an average price of $1,890.00, for a total transaction of $189,000.00. The disclosure of this sale can be found here. In the past three months, insiders have sold 7,682 shares of the company worth $16,146,334. Insiders of the company hold 2.60% of the shares of the company.
About Auto Zone (Get a rating)
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 rebuilt auto parts, maintenance items, accessories and non-automotive products. Its products include air conditioning compressors, batteries and accessories, bearings, belts and hoses, calipers, chassis, clutches, CV axles, motors, fuel pumps, fuses, maintenance products. ignition and lighting, mufflers, radiators, starters and alternators, thermostats and water pumps, as well as tire repair.
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