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.
Analyst Upgrades and Downgrades
Several equities analysts have recently commented on the stock. DA Davidson upped their price target on shares of AutoZone from $1,900.00 to $1,920.00 and gave the stock a "neutral" rating in a research report on Wednesday, May 25th. Citigroup upped their price target on shares of AutoZone from $2,210.00 to $2,250.00 in a research report on Friday, May 13th. Wedbush restated an "outperform" rating on shares of AutoZone in a research report on Monday, May 23rd. Raymond James upped their price target on shares of AutoZone from $2,100.00 to $2,400.00 and gave the stock an "outperform" rating in a research report on Tuesday, April 19th. Finally, MKM Partners started coverage on shares of AutoZone in a research report on Thursday, June 23rd. They set a "buy" rating and a $2,350.00 price target for the company. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and fifteen have given a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $2,169.41.
AutoZone Trading Up 1.4 %
Shares of NYSE:AZO opened at $2,195.19 on Friday. AutoZone has a twelve month low of $1,503.30 and a twelve month high of $2,267.40. The company has a market capitalization of $42.78 billion, a price-to-earnings ratio of 19.47, a PEG ratio of 1.63 and a beta of 0.78. The firm has a 50-day moving average of $2,119.73 and a two-hundred day moving average of $2,032.80.
AutoZone (NYSE:AZO - Get Rating) last issued its quarterly earnings results on Tuesday, May 24th. The company reported $29.03 earnings per share 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 during the quarter, compared to the consensus estimate of $3.71 billion. During the same period in the prior year, the company earned $26.48 EPS. AutoZone's revenue was up 5.9% on a year-over-year basis. As a group, research analysts predict that AutoZone will post 115.12 earnings per share for the current year.
Insider Buying and Selling at AutoZone
In other AutoZone news, Director Brian Hannasch purchased 133 shares of the business's stock in a transaction on Thursday, May 26th. The stock was bought at an average cost of $1,901.95 per share, with a total value of $252,959.35. Following the acquisition, the director now owns 512 shares of the company's stock, valued at $973,798.40. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Brian Hannasch acquired 133 shares of AutoZone stock in a transaction on Thursday, May 26th. The stock was bought at an average cost 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 purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Domingo Hurtado sold 395 shares of the company's stock in a transaction dated 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 sale, the vice president now directly owns 362 shares of the company's stock, valued at $802,745.86. The disclosure for this sale can be found here. 2.60% of the stock is owned by corporate insiders.
