Jefferies Financial Group Equities Analysts Lower Earnings Estimates for AutoZone, Inc. (NYSE:AZO)

AutoZone, Inc. (NYSE:AZOGet Rating) – Equities research analysts at Jefferies Financial Group reduced their Q1 2023 EPS estimates for shares of AutoZone in a research note issued to investors on Monday, September 19th. Jefferies Financial Group analyst B. Jordan now expects that the company will post earnings of $25.22 per share for the quarter, down from their previous estimate of $27.66. Jefferies Financial Group currently has a “Buy” rating and a $2,450.00 target price on the stock. The consensus estimate for AutoZone’s current full-year earnings is $122.78 per share. Jefferies Financial Group also issued estimates for AutoZone’s Q2 2023 earnings at $20.71 EPS.

A number of other research firms have also recently weighed in on AZO. Wedbush upped their target price on shares of AutoZone from $2,250.00 to $2,350.00 and gave the company an “outperform” rating in a research note on Tuesday. JPMorgan Chase & Co. upped their price objective on AutoZone from $2,550.00 to $2,660.00 and gave the company an “overweight” rating in a research note on Tuesday. Morgan Stanley raised AutoZone from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $2,125.00 to $2,420.00 in a research note on Thursday, June 16th. MKM Partners began coverage on AutoZone in a research note on Thursday, June 23rd. They set a “buy” rating and a $2,350.00 price objective for the company. Finally, UBS Group boosted their target price on shares of AutoZone from $2,100.00 to $2,260.00 and gave the company a “neutral” rating in a research note on Monday, September 12th. Three research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, AutoZone has a consensus rating of “Moderate Buy” and a consensus price target of $2,356.53.

AutoZone Price Performance

Shares of AutoZone stock opened at $2,082.64 on Thursday. AutoZone has a 52-week low of $1,634.34 and a 52-week high of $2,362.24. The firm has a market capitalization of $40.59 billion, a PE ratio of 17.72, a price-to-earnings-growth ratio of 1.53 and a beta of 0.78. The company’s fifty day moving average price is $2,185.96 and its two-hundred day moving average price is $2,096.21.

AutoZone (NYSE:AZOGet Rating) last announced its quarterly earnings data on Monday, September 19th. The company reported $40.51 EPS for the quarter, topping analysts’ consensus estimates of $38.38 by $2.13. The company had revenue of $5.35 billion during the quarter, compared to the consensus estimate of $5.16 billion. AutoZone had a negative return on equity of 79.74% and a net margin of 14.95%. The company’s quarterly revenue was up 8.9% on a year-over-year basis. During the same quarter last year, the company earned $35.72 EPS.

Insider Buying and Selling at AutoZone

In other news, CEO William C. Rhodes III sold 2,958 shares of the business’s stock in a transaction on 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 completion of the sale, the chief executive officer now owns 15,935 shares in the company, valued at $35,157,868.55. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, VP Domingo Hurtado sold 395 shares of the 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 value of $875,924.35. Following the transaction, the vice president now directly owns 362 shares in the company, valued at $802,745.86. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO William C. Rhodes III sold 2,958 shares of AutoZone stock in a transaction on 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 sale, the chief executive officer now directly owns 15,935 shares of the company’s stock, valued at approximately $35,157,868.55. The disclosure for this sale can be found here. Corporate insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Comprehensive Financial Consultants Institutional Inc. acquired a new position in AutoZone in the fourth quarter valued at about $27,000. Riverview Trust Co bought a new position in AutoZone during the 1st quarter worth approximately $27,000. Tcwp LLC acquired a new position in AutoZone during the first quarter valued at approximately $30,000. Kings Point Capital Management acquired a new stake in AutoZone in the first quarter worth $31,000. Finally, Johnson Financial Group Inc. bought a new position in shares of AutoZone during the fourth quarter worth $36,000. 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.

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Earnings History and Estimates for AutoZone (NYSE:AZO)

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