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. In addition, the company offers maintenance products, such as antifreeze and windshield washer fluids; brake drums, rotors, shoes, and pads; brake and power steering fluids, and oil and fuel additives; oil and transmission fluids; oil, cabin, air, fuel, and transmission filters; oxygen sensors; paints and accessories; refrigerants and accessories; shock absorbers and struts; spark plugs and wires; and windshield wipers. Further, it provides air fresheners, cell phone accessories, drinks and snacks, floor mats and seat covers, interior and exterior accessories, mirrors, performance products, protectants and cleaners, sealants and adhesives, steering wheel covers, stereos and radios, tools, and wash and wax products, as well as towing services. Additionally, the company provides a sales program that offers commercial credit and delivery of parts and other products; sells automotive diagnostic and repair software under the ALLDATA brand through alldata.com and alldatadiy.com; and automotive hard parts, maintenance items, accessories, and non-automotive products through autozone.com. As of November 20, 2021, it operated 6,066 stores in the United States; 666 stores in Mexico; and 53 stores in Brazil. The company was founded in 1979 and is based in Memphis, Tennessee.
Wall Street Analyst Weigh In
Several research firms have weighed in on AZO. MKM Partners began coverage on shares of AutoZone in a research report on Thursday, June 23rd. They issued a "buy" rating and a $2,350.00 price objective for the company. The Goldman Sachs Group upgraded shares of AutoZone from a "neutral" rating to a "buy" rating and raised their price objective for the company from $1,969.00 to $2,296.00 in a research report on Monday, June 27th. DA Davidson raised their target price on shares of AutoZone from $1,900.00 to $1,920.00 and gave the company a "neutral" rating in a research note on Wednesday, May 25th. Raymond James raised their target price on shares of AutoZone from $2,100.00 to $2,400.00 and gave the company an "outperform" rating in a research note on Tuesday, April 19th. Finally, Morgan Stanley raised shares of AutoZone from an "equal weight" rating to an "overweight" rating and raised their target price for the company from $2,125.00 to $2,420.00 in a research note on Thursday, June 16th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and fifteen have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $2,169.41.
AutoZone Stock Up 1.9 %
NYSE:AZO opened at $2,329.52 on Wednesday. AutoZone has a 12-month low of $1,503.30 and a 12-month high of $2,362.24. The company has a market capitalization of $45.40 billion, a PE ratio of 20.66, a price-to-earnings-growth ratio of 1.72 and a beta of 0.78. The firm's 50 day moving average is $2,141.17 and its 200-day moving average is $2,046.57.
AutoZone (NYSE:AZO - Get Rating) last posted its quarterly earnings data on Tuesday, May 24th. The company reported $29.03 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $25.87 by $3.16. AutoZone had a net margin of 15.21% and a negative return on equity of 92.10%. The company had revenue of $3.87 billion for the quarter, compared to the consensus estimate of $3.71 billion. During the same period last year, the company earned $26.48 earnings per share. The firm's revenue was up 5.9% compared to the same quarter last year. As a group, sell-side analysts expect that AutoZone will post 115.12 EPS for the current year.
Insider Buying and Selling
In other news, Director Brian Hannasch bought 133 shares of the stock in a transaction that occurred on Thursday, May 26th. The shares were acquired at an average cost of $1,901.95 per share, for a total transaction of $252,959.35. Following the completion of the acquisition, the director now owns 512 shares in the company, valued at $973,798.40. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other AutoZone news, VP Domingo Hurtado sold 395 shares of AutoZone stock in a transaction 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 directly owns 362 shares of the company's stock, valued at $802,745.86. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Brian Hannasch bought 133 shares of AutoZone stock in a transaction dated Thursday, May 26th. The stock was acquired at an average cost of $1,901.95 per share, with a total value of $252,959.35. Following the transaction, the director now owns 512 shares of the company's stock, valued at approximately $973,798.40. The disclosure for this purchase can be found here. 2.60% of the stock is owned by corporate insiders.
