AutoZone - AZO Stock Forecast, Price & News

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.

AutoZone Stock Performance

NYSE:AZO traded up $19.03 on Tuesday, reaching $2,304.99. 241 shares of the company's stock traded hands, compared to its average volume of 144,064. AutoZone has a fifty-two week low of $1,503.30 and a fifty-two week high of $2,293.19. The stock has a 50 day moving average price of $2,141.17 and a 200-day moving average price of $2,046.57. The firm has a market cap of $44.92 billion, a price-to-earnings ratio of 20.28, a P/E/G ratio of 1.70 and a beta of 0.78.

AutoZone (NYSE:AZO - Get Rating) last posted its quarterly earnings results on Tuesday, May 24th. The company reported $29.03 earnings per share for the quarter, topping analysts' consensus estimates of $25.87 by $3.16. The firm had revenue of $3.87 billion for the quarter, compared to analyst estimates of $3.71 billion. AutoZone had a net margin of 15.21% and a negative return on equity of 92.10%. AutoZone's quarterly revenue was up 5.9% on a year-over-year basis. During the same period in the previous year, the business posted $26.48 earnings per share. As a group, equities research analysts anticipate that AutoZone will post 115.12 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

AZO has been the subject of a number of recent research reports. Citigroup upped their target price on AutoZone from $2,210.00 to $2,250.00 in a research note on Friday, May 13th. Wedbush restated an "outperform" rating on shares of AutoZone in a report on Monday, May 23rd. MKM Partners started coverage on AutoZone in a research report on Thursday, June 23rd. They issued a "buy" rating and a $2,350.00 target price on the stock. Stephens lifted their target price on AutoZone from $2,195.00 to $2,285.00 and gave the stock an "overweight" rating in a research note on Thursday, May 26th. Finally, Truist Financial reduced their price target on AutoZone from $2,215.00 to $2,174.00 and set a "buy" rating for the company in a research note on Wednesday, May 25th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $2,169.41.

Insider Activity

In related news, Director Brian Hannasch purchased 133 shares of the business's stock in a transaction that occurred on Thursday, May 26th. The shares were purchased at an average cost of $1,901.95 per share, for a total transaction of $252,959.35. Following the purchase, the director now directly owns 512 shares of the company's stock, valued at $973,798.40. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO William C. Rhodes III sold 2,958 shares of the company's stock in a transaction that occurred on Monday, July 18th. The shares were sold at an average price of $2,206.33, for a total transaction of $6,526,324.14. Following the completion of the transaction, the chief executive officer now owns 15,935 shares of the company's stock, valued at $35,157,868.55. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Brian Hannasch acquired 133 shares of the firm's stock in a transaction on Thursday, May 26th. The shares were acquired at an average price of $1,901.95 per share, with a total value of $252,959.35. Following the completion of the purchase, the director now owns 512 shares of the company's stock, valued at $973,798.40. The disclosure for this purchase can be found here. Company insiders own 2.60% of the company's stock.