AutoZone, Inc. (NYSE:AZO) Forecasted to Post Q1 2023 Earnings of $27.51 Per Share

AutoZone, Inc. (NYSE:AZOGet Rating) – Investment analysts at DA Davidson issued their Q1 2023 earnings per share (EPS) estimates for AutoZone in a research note issued on Tuesday, September 20th. DA Davidson analyst M. Baker expects that the company will earn $27.51 per share for the quarter. DA Davidson currently has a “Neutral” rating and a $1,920.00 target price on the stock. The consensus estimate for AutoZone’s current full-year earnings is $115.12 per share. DA Davidson also issued estimates for AutoZone’s FY2024 earnings at $139.03 EPS.

AutoZone (NYSE:AZOGet Rating) last announced its quarterly earnings data on Monday, September 19th. The company reported $40.51 earnings per share for the quarter, beating the consensus estimate of $38.31 by $2.20. The business had revenue of $5.35 billion during the quarter, compared to analyst estimates of $5.16 billion. AutoZone had a negative return on equity of 92.10% and a net margin of 15.21%. The company’s revenue was up 8.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $35.72 earnings per share.

Several other brokerages have also weighed in on AZO. Stephens upped their price objective on AutoZone to $2,400.00 in a report on Tuesday. JPMorgan Chase & Co. upped their target price on AutoZone from $2,550.00 to $2,660.00 and gave the company an “overweight” rating in a report on Tuesday. Truist Financial reduced their target price on AutoZone from $2,215.00 to $2,174.00 and set a “buy” rating for the company in a report on Wednesday, May 25th. Citigroup upped their target price on AutoZone from $2,250.00 to $2,520.00 and gave the company a “buy” rating in a report on Tuesday. Finally, Jefferies Financial Group upped their target price on AutoZone from $2,350.00 to $2,450.00 and gave the company a “buy” rating in a report on Tuesday. One research analyst has rated the stock with a sell rating, three have given a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $2,234.41.

AutoZone Stock Up 1.6 %

Shares of AutoZone stock opened at $2,131.47 on Wednesday. The firm has a market cap of $41.54 billion, a price-to-earnings ratio of 18.91, a price-to-earnings-growth ratio of 1.54 and a beta of 0.78. The business has a fifty day simple moving average of $2,189.77 and a 200-day simple moving average of $2,094.34. AutoZone has a fifty-two week low of $1,605.97 and a fifty-two week high of $2,362.24.

Insiders Place Their Bets

In other AutoZone news, CEO William C. Rhodes III sold 2,958 shares of the company’s stock in a transaction dated Monday, July 18th. The stock was sold at an average price of $2,206.33, for a total value of $6,526,324.14. Following the transaction, the chief executive officer now directly owns 15,935 shares of the company’s stock, valued at approximately $35,157,868.55. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, CEO William C. Rhodes III sold 2,958 shares of the stock in a transaction dated Monday, July 18th. The stock was sold at an average price of $2,206.33, for a total transaction of $6,526,324.14. Following the transaction, the chief executive officer now owns 15,935 shares of the company’s stock, valued at approximately $35,157,868.55. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Domingo Hurtado sold 395 shares of the stock in a transaction dated Friday, July 15th. The shares were sold at an average price of $2,217.53, for a total value of $875,924.35. Following the transaction, the vice president now directly owns 362 shares in the company, valued at approximately $802,745.86. The disclosure for this sale can be found here. Insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Ellevest Inc. acquired a new position in shares of AutoZone during the 1st quarter valued at about $55,000. Harbor Investment Advisory LLC boosted its stake in AutoZone by 11.6% during the 1st quarter. Harbor Investment Advisory LLC now owns 106 shares of the company’s stock valued at $217,000 after purchasing an additional 11 shares during the period. Mackenzie Financial Corp boosted its stake in AutoZone by 71.5% during the 4th quarter. Mackenzie Financial Corp now owns 16,993 shares of the company’s stock valued at $35,624,000 after purchasing an additional 7,084 shares during the period. Quent Capital LLC boosted its stake in AutoZone by 10.7% during the 1st quarter. Quent Capital LLC now owns 83 shares of the company’s stock valued at $170,000 after purchasing an additional 8 shares during the period. Finally, Principal Financial Group Inc. boosted its stake in AutoZone by 5.4% during the 1st quarter. Principal Financial Group Inc. now owns 27,644 shares of the company’s stock valued at $56,521,000 after purchasing an additional 1,423 shares during the period. Institutional investors and hedge funds own 92.90% 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.

See Also

Earnings History and Estimates for AutoZone (NYSE:AZO)

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