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 Ratings Changes
Several research firms have recently issued reports on AZO. Morgan Stanley raised AutoZone from an "equal weight" rating to an "overweight" rating and upped their price objective for the stock from $2,125.00 to $2,420.00 in a research report on Thursday, June 16th. Truist Financial lowered their price objective on AutoZone from $2,215.00 to $2,174.00 and set a "buy" rating for the company in a research report on Wednesday, May 25th. MKM Partners assumed coverage on AutoZone in a research report on Thursday, June 23rd. They issued a "buy" rating and a $2,350.00 target price for the company. The Goldman Sachs Group raised AutoZone from a "neutral" rating to a "buy" rating and upped their target price for the company from $1,969.00 to $2,296.00 in a research report on Monday, June 27th. Finally, Citigroup upped their target price on AutoZone from $2,210.00 to $2,250.00 in a research report on Friday, May 13th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $2,169.41.
AutoZone Trading Up 0.5 %
AutoZone stock traded up $10.66 during midday trading on Monday, hitting $2,269.84. The stock had a trading volume of 1,293 shares, compared to its average volume of 183,245. The stock has a market cap of $44.23 billion, a P/E ratio of 20.19, a P/E/G ratio of 1.70 and a beta of 0.78. AutoZone has a 12 month low of $1,503.30 and a 12 month high of $2,267.40. The business has a fifty day moving average price of $2,137.43 and a 200 day moving average price of $2,044.21.
AutoZone (NYSE:AZO - Get Rating) last issued its earnings results on Tuesday, May 24th. The company reported $29.03 EPS for the quarter, beating analysts' consensus estimates of $25.87 by $3.16. AutoZone had a negative return on equity of 92.10% and a net margin of 15.21%. 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 previous year, the firm posted $26.48 earnings per share. AutoZone's quarterly revenue was up 5.9% compared to the same quarter last year. On average, equities analysts anticipate that AutoZone will post 115.12 EPS for the current fiscal year.
Insider Transactions at AutoZone
In other news, CEO William C. Rhodes III sold 2,958 shares of the business's 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 transaction, the chief executive officer now directly owns 15,935 shares in the company, valued at $35,157,868.55. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, Director Brian Hannasch bought 133 shares of the business's stock in a transaction on Thursday, May 26th. The stock was purchased at an average cost of $1,901.95 per share, for a total transaction of $252,959.35. Following the completion of the transaction, the director now directly owns 512 shares of the company's stock, valued at approximately $973,798.40. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO William C. Rhodes III sold 2,958 shares of the company's 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 value of $6,526,324.14. Following the completion of the sale, the chief executive officer now owns 15,935 shares of the company's stock, valued at $35,157,868.55. The disclosure for this sale can be found here. Insiders own 2.60% of the company's stock.
