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 Up 1.3 %

Shares of NYSE:AZO traded up $28.35 on Friday, hitting $2,259.18. 129,362 shares of the company traded hands, compared to its average volume of 145,199. The company has a market cap of $44.03 billion, a PE ratio of 20.04, a PEG ratio of 1.68 and a beta of 0.78. The stock has a 50 day simple moving average of $2,137.43 and a 200-day simple moving average of $2,042.13. AutoZone has a 52 week low of $1,503.30 and a 52 week high of $2,267.40.

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

Analysts Set New Price Targets

AZO has been the topic of several recent analyst reports. MKM Partners initiated coverage on AutoZone in a report on Thursday, June 23rd. They set a "buy" rating and a $2,350.00 price target on the stock. Citigroup boosted their target price on AutoZone from $2,210.00 to $2,250.00 in a research note on Friday, May 13th. Morgan Stanley raised AutoZone from an "equal weight" rating to an "overweight" rating and raised their price target for the stock from $2,125.00 to $2,420.00 in a research note on Thursday, June 16th. DA Davidson boosted their price objective on shares of AutoZone from $1,900.00 to $1,920.00 and gave the company a "neutral" rating in a research report on Wednesday, May 25th. Finally, Stephens raised their target price on shares of AutoZone from $2,195.00 to $2,285.00 and gave the stock an "overweight" rating in a research report on Thursday, May 26th. One investment 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. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $2,169.41.

Insider Buying and Selling at AutoZone

In other AutoZone news, Director Brian Hannasch purchased 133 shares of the firm's stock in a transaction dated Thursday, May 26th. The stock was purchased at an average price of $1,901.95 per share, for a total transaction of $252,959.35. Following the completion of the purchase, the director now directly owns 512 shares of the company's stock, valued at $973,798.40. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, Director Brian Hannasch bought 133 shares of the company's stock in a transaction that occurred on Thursday, May 26th. The shares were bought at an average price 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 of the company's stock, valued at approximately $973,798.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO William C. Rhodes III sold 2,958 shares of AutoZone stock in a transaction that occurred 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 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. Company insiders own 2.60% of the company's stock.