AutoZone, Inc. (NYSE:AZO – Get Rating) – Research analysts at DA Davidson lowered their FY2023 earnings estimates for shares of AutoZone in a report released on Tuesday, September 20th. DA Davidson analyst M. Baker now anticipates that the company will post earnings per share of $124.18 for the year, down from their previous forecast of $127.30. The consensus estimate for AutoZone’s current full-year earnings is $122.78 per share.
AZO has been the topic of a number of other research reports. Jefferies Financial Group lifted their target price on AutoZone from $2,350.00 to $2,450.00 and gave the company a “buy” rating in a research report on Tuesday. Wells Fargo & Company lifted their price target on shares of AutoZone from $2,350.00 to $2,450.00 and gave the company an “overweight” rating in a report on Friday, September 9th. JPMorgan Chase & Co. upped their price objective on shares of AutoZone from $2,550.00 to $2,660.00 and gave the stock an “overweight” rating in a research report on Tuesday. Citigroup raised their target price on shares of AutoZone from $2,250.00 to $2,520.00 and gave the company a “buy” rating in a research report on Tuesday. Finally, Wedbush upped their price target on shares of AutoZone from $2,250.00 to $2,350.00 and gave the stock an “outperform” rating in a report on Tuesday. Three equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $2,356.53.
AutoZone Stock Performance
AutoZone (NYSE:AZO – Get Rating) last announced its quarterly earnings data on Monday, September 19th. The company reported $40.51 EPS for the quarter, beating the consensus estimate of $38.38 by $2.13. The business had revenue of $5.35 billion during the quarter, compared to the consensus estimate of $5.16 billion. AutoZone had a net margin of 14.95% and a negative return on equity of 79.74%. The company’s revenue was up 8.9% on a year-over-year basis. During the same period in the previous year, the business earned $35.72 earnings per share.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. American International Group Inc. grew its position in shares of AutoZone by 1.2% during the 4th quarter. American International Group Inc. now owns 6,624 shares of the company’s stock worth $13,886,000 after buying an additional 77 shares during the period. Rockefeller Capital Management L.P. increased its stake in AutoZone by 28.9% in the fourth quarter. Rockefeller Capital Management L.P. now owns 562 shares of the company’s stock valued at $1,178,000 after purchasing an additional 126 shares in the last quarter. GSA Capital Partners LLP bought a new stake in AutoZone in the fourth quarter valued at $698,000. Nissay Asset Management Corp Japan ADV raised its holdings in shares of AutoZone by 1.9% during the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 2,456 shares of the company’s stock valued at $5,149,000 after purchasing an additional 46 shares during the period. Finally, LPL Financial LLC boosted its position in shares of AutoZone by 19.3% during the 4th quarter. LPL Financial LLC now owns 8,774 shares of the company’s stock worth $18,393,000 after purchasing an additional 1,417 shares in the last quarter. 92.90% of the stock is owned by institutional investors and hedge funds.
Insider Activity at AutoZone
In other AutoZone news, VP Domingo Hurtado sold 395 shares of the firm’s stock in a transaction that occurred on Friday, July 15th. The shares were sold at an average price of $2,217.53, for a total transaction of $875,924.35. Following the completion of the transaction, the vice president now owns 362 shares in the company, valued at approximately $802,745.86. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CEO William C. Rhodes III sold 2,958 shares of the business’s stock in a transaction on Monday, July 18th. The shares were 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 owns 15,935 shares in the company, valued at $35,157,868.55. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, VP Domingo Hurtado sold 395 shares of the stock in a transaction dated Friday, July 15th. The stock was sold at an average price of $2,217.53, for a total value of $875,924.35. Following the sale, the vice president now owns 362 shares of the company’s stock, valued at $802,745.86. The disclosure for this sale can be found here. 2.60% of the stock is currently owned by company insiders.
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, 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.
- Get a free copy of the StockNews.com research report on AutoZone (AZO)
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