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
A number of brokerages have recently issued reports on AZO. Truist Financial cut their price objective on shares of AutoZone from $2,215.00 to $2,174.00 and set a "buy" rating on the stock in a research report on Wednesday, May 25th. Stephens boosted 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. DA Davidson boosted their target price 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. Morgan Stanley raised shares of AutoZone from an "equal weight" rating to an "overweight" rating and boosted their target price for the stock from $2,125.00 to $2,420.00 in a research report on Thursday, June 16th. Finally, Raymond James boosted their target price 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. 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.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $2,169.41.
AutoZone Stock Up 0.3 %
AutoZone stock opened at $2,230.83 on Friday. AutoZone has a 52-week low of $1,503.30 and a 52-week high of $2,267.40. The firm has a market capitalization of $43.47 billion, a price-to-earnings ratio of 19.79, a PEG ratio of 1.67 and a beta of 0.78. The company has a fifty day simple moving average of $2,130.02 and a 200-day simple moving average of $2,038.06.
AutoZone (NYSE:AZO - Get Rating) last announced 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. The firm had revenue of $3.87 billion during 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 quarter in the prior year, the firm posted $26.48 earnings per share. On average, research analysts anticipate that AutoZone will post 115.12 EPS for the current fiscal year.
Insiders Place Their Bets
In other AutoZone news, Director Brian Hannasch purchased 133 shares of AutoZone stock in a transaction dated 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 transaction, the director now owns 512 shares of the company's stock, valued at $973,798.40. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, Director Brian Hannasch acquired 133 shares of the 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 transaction, the director now directly owns 512 shares in the company, valued at approximately $973,798.40. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO William C. Rhodes III sold 2,958 shares of the business's stock in a transaction dated 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 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. 2.60% of the stock is currently owned by insiders.
