DA Davidson Brokers Boost Earnings Estimates for AutoZone, Inc. (NYSE:AZO)
AutoZone, Inc. (NYSE:AZO – Get Rating) – Research analysts at DA Davidson upped their FY2022 earnings per share estimates for shares of AutoZone in a research note issued on Thursday, May 26th. DA Davidson analyst M. Baker now forecasts that the company will earn $115.23 per share for the year, up from their previous estimate of $110.72. DA Davidson currently has a “Neutral” rating and a $1,920.00 target price on the stock. DA Davidson also issued estimates for AutoZone’s FY2023 earnings at $127.14 EPS.
Several other equities research analysts have also issued reports on AZO. Zacks Investment Research lowered shares of AutoZone from a “strong-buy” rating to a “hold” rating and set a $2,096.00 target price on the stock. in a research note on Tuesday, February 8th. StockNews.com assumed coverage on shares of AutoZone in a report on Thursday, March 31st. They set a “buy” rating for the company. Stephens raised their price target on shares of AutoZone from $2,195.00 to $2,285.00 and gave the stock an “overweight” rating in a report on Thursday. Citigroup lifted their price objective on shares of AutoZone from $2,210.00 to $2,250.00 in a report on Friday, May 13th. Finally, JPMorgan Chase & Co. raised their target price on shares of AutoZone from $2,175.00 to $2,200.00 and gave the company an “overweight” rating in a report on Wednesday, March 2nd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $2,095.33.
AutoZone stock opened at $2,055.39 on Monday. AutoZone has a fifty-two week low of $1,367.96 and a fifty-two week high of $2,267.40. The business’s 50-day simple moving average is $2,041.32 and its two-hundred day simple moving average is $1,980.07. The company has a market cap of $40.80 billion, a PE ratio of 18.65, a PEG ratio of 1.56 and a beta of 0.90.
AutoZone (NYSE:AZO – Get Rating) last issued its quarterly earnings data on Tuesday, May 24th. The company reported $29.03 EPS for the quarter, topping analysts’ consensus estimates of $25.70 by $3.33. AutoZone had a net margin of 15.44% and a negative return on equity of 109.21%. The company had revenue of $3.87 billion during the quarter, compared to the consensus estimate of $3.71 billion. During the same quarter in the previous year, the firm posted $26.48 earnings per share. AutoZone’s revenue for the quarter was up 5.9% compared to the same quarter last year.
In related news, EVP Philip B. Daniele sold 100 shares of AutoZone stock in a transaction dated Friday, March 4th. The stock was sold at an average price of $1,890.00, for a total transaction of $189,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Albert Saltiel sold 2,752 shares of the firm’s stock in a transaction that occurred on Thursday, April 7th. The stock was sold at an average price of $2,154.70, for a total transaction of $5,929,734.40. Following the sale, the vice president now owns 323 shares in the company, valued at approximately $695,968.10. The disclosure for this sale can be found here. Insiders sold a total of 7,682 shares of company stock worth $16,146,334 over the last quarter. Insiders own 2.60% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in AZO. BlackRock Inc. lifted its position in AutoZone by 1.1% during the fourth quarter. BlackRock Inc. now owns 1,513,879 shares of the company’s stock worth $3,173,680,000 after buying an additional 15,922 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of AutoZone by 13.9% in the 1st quarter. JPMorgan Chase & Co. now owns 1,188,751 shares of the company’s stock valued at $2,430,495,000 after purchasing an additional 144,984 shares during the last quarter. State Street Corp grew its stake in shares of AutoZone by 1.9% during the 4th quarter. State Street Corp now owns 901,396 shares of the company’s stock valued at $1,889,678,000 after buying an additional 16,973 shares during the period. Boston Partners increased its holdings in shares of AutoZone by 2.7% during the 1st quarter. Boston Partners now owns 737,596 shares of the company’s stock worth $1,509,438,000 after buying an additional 19,083 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in shares of AutoZone by 0.8% in the 4th quarter. Geode Capital Management LLC now owns 443,157 shares of the company’s stock worth $927,398,000 after buying an additional 3,608 shares during the period. Hedge funds and other institutional investors own 95.97% of the company’s stock.
AutoZone Company Profile (Get 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 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, chassis, clutches, CV axles, engines, fuel pumps, fuses, ignition and lighting products, mufflers, radiators, starters and alternators, thermostats, and water pumps, as well as tire repairs.
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