Zacks Research Research Analysts Lift Earnings Estimates for AutoZone, Inc. (NYSE:AZO)

Posted by Defense World Staff on Sep 7th, 2023

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AutoZone, Inc. (NYSE:AZO – Free Report) – Analysts at Zacks Research boosted their Q1 2024 earnings per share (EPS) estimates for AutoZone in a report issued on Tuesday, September 5th. Zacks Research analyst R. Singhi now anticipates that the company will post earnings of $29.98 per share for the quarter, up from their previous forecast of $29.85. The consensus estimate for AutoZone’s current full-year earnings is $130.70 per share. Zacks Research also issued estimates for AutoZone’s Q1 2025 earnings at $35.17 EPS.

AZO has been the topic of several other reports. DA Davidson reduced their price objective on AutoZone from $2,425.00 to $2,340.00 in a research note on Wednesday, May 24th. 51job reaffirmed a “maintains” rating on shares of AutoZone in a report on Thursday, May 11th. Wedbush increased their price objective on shares of AutoZone from $2,600.00 to $2,750.00 in a research note on Monday, May 22nd. StockNews.com assumed coverage on shares of AutoZone in a research note on Thursday, August 17th. They set a “buy” rating on the stock. Finally, 92 Resources reiterated a “reiterates” rating on shares of AutoZone in a research note on Tuesday, June 27th. Two equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $2,716.00.

Check Out Our Latest Analysis on AutoZone

AutoZone Stock Up 0.5 %

NYSE:AZO opened at $2,568.89 on Wednesday. The company has a market cap of $46.65 billion, a PE ratio of 20.27, a P/E/G ratio of 1.42 and a beta of 0.66. The business’s 50 day moving average is $2,494.05 and its two-hundred day moving average is $2,509.64. AutoZone has a 52 week low of $2,050.21 and a 52 week high of $2,750.00.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Independence Bank of Kentucky purchased a new position in AutoZone in the 2nd quarter worth about $25,000. Ameritas Advisory Services LLC purchased a new position in AutoZone in the 1st quarter worth about $27,000. First Capital Advisors Group LLC. purchased a new position in AutoZone in the 2nd quarter worth about $32,000. MCF Advisors LLC increased its stake in AutoZone by 600.0% in the 1st quarter. MCF Advisors LLC now owns 14 shares of the company’s stock worth $34,000 after purchasing an additional 12 shares in the last quarter. Finally, MUFG Americas Holdings Corp boosted its stake in AutoZone by 166.7% in the 3rd quarter. MUFG Americas Holdings Corp now owns 16 shares of the company’s stock worth $34,000 after purchasing an additional 10 shares during the period. Institutional investors own 90.34% of the company’s stock.

Insider Buying and Selling at AutoZone

In other AutoZone news, VP Charles Pleas III sold 4,200 shares of the stock in a transaction on Tuesday, July 11th. The stock was sold at an average price of $2,546.55, for a total transaction of $10,695,510.00. Following the completion of the transaction, the vice president now directly owns 3,425 shares of the company’s stock, valued at approximately $8,721,933.75. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other AutoZone news, SVP K. Michelle Borninkhof purchased 217 shares of the business’s stock in a transaction on Monday, June 12th. The stock was bought at an average cost of $2,406.36 per share, with a total value of $522,180.12. Following the acquisition, the senior vice president now owns 501 shares of the company’s stock, valued at $1,205,586.36. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Charles Pleas III sold 4,200 shares of the company’s stock in a transaction on Tuesday, July 11th. The shares were sold at an average price of $2,546.55, for a total value of $10,695,510.00. Following the completion of the transaction, the vice president now directly owns 3,425 shares in the company, valued at approximately $8,721,933.75. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 8,445 shares of company stock valued at $21,200,970. Company insiders own 2.59% of the company’s stock.

About AutoZone

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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.