Brokers Issue Forecasts for AutoZone, Inc.’s FY2024 Earnings (NYSE:AZO)

AutoZone, Inc. (NYSE:AZOFree Report) – Stock analysts at William Blair reduced their FY2024 earnings per share estimates for shares of AutoZone in a research note issued on Tuesday, May 21st. William Blair analyst P. Blee now forecasts that the company will post earnings of $152.17 per share for the year, down from their previous estimate of $153.91. The consensus estimate for AutoZone’s current full-year earnings is $152.36 per share. William Blair also issued estimates for AutoZone’s FY2025 earnings at $170.62 EPS.

AZO has been the topic of a number of other research reports. Wedbush dropped their target price on AutoZone from $3,400.00 to $3,200.00 and set an “outperform” rating on the stock in a report on Wednesday. Evercore ISI dropped their target price on AutoZone from $3,300.00 to $3,250.00 and set an “outperform” rating on the stock in a report on Wednesday. StockNews.com downgraded AutoZone from a “buy” rating to a “hold” rating in a report on Friday, April 12th. Barclays increased their price objective on AutoZone from $2,779.00 to $3,100.00 and gave the stock an “overweight” rating in a report on Thursday, February 29th. Finally, Mizuho dropped their price objective on AutoZone from $3,450.00 to $3,280.00 and set a “buy” rating on the stock in a report on Wednesday. Five research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $3,058.17.

View Our Latest Analysis on AutoZone

AutoZone Price Performance

Shares of AZO opened at $2,772.64 on Thursday. The company has a market capitalization of $48.02 billion, a price-to-earnings ratio of 19.52, a P/E/G ratio of 1.45 and a beta of 0.72. AutoZone has a fifty-two week low of $2,277.88 and a fifty-two week high of $3,256.37. The business’s 50-day moving average is $3,022.78 and its 200-day moving average is $2,826.79.

AutoZone (NYSE:AZOGet Free Report) last issued its earnings results on Tuesday, May 21st. The company reported $36.69 earnings per share for the quarter, beating analysts’ consensus estimates of $35.67 by $1.02. The company had revenue of $4.24 billion for the quarter, compared to the consensus estimate of $4.29 billion. AutoZone had a negative return on equity of 56.06% and a net margin of 14.70%. The firm’s quarterly revenue was up 3.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $34.12 EPS.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Atria Investments Inc raised its stake in shares of AutoZone by 6.2% in the first quarter. Atria Investments Inc now owns 2,347 shares of the company’s stock valued at $7,397,000 after purchasing an additional 136 shares in the last quarter. Swedbank AB acquired a new position in shares of AutoZone in the first quarter valued at $49,339,000. Sanibel Captiva Trust Company Inc. raised its stake in AutoZone by 2.2% during the first quarter. Sanibel Captiva Trust Company Inc. now owns 3,566 shares of the company’s stock worth $11,239,000 after acquiring an additional 76 shares in the last quarter. Delphi Management Inc. MA raised its stake in AutoZone by 9.0% during the first quarter. Delphi Management Inc. MA now owns 412 shares of the company’s stock worth $1,298,000 after acquiring an additional 34 shares in the last quarter. Finally, Virtu Financial LLC acquired a new position in AutoZone during the first quarter worth $4,355,000. 92.74% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other AutoZone news, VP Richard Craig Smith sold 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $2,997.76, for a total transaction of $8,993,280.00. Following the completion of the sale, the vice president now owns 2,921 shares of the company’s stock, valued at $8,756,456.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Chairman William C. Rhodes III sold 6,700 shares of the stock in a transaction that occurred on Tuesday, March 26th. The stock was sold at an average price of $3,190.22, for a total value of $21,374,474.00. Following the completion of the sale, the chairman now directly owns 15,357 shares of the company’s stock, valued at $48,992,208.54. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Richard Craig Smith sold 3,000 shares of the stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $2,997.76, for a total value of $8,993,280.00. Following the completion of the sale, the vice president now directly owns 2,921 shares of the company’s stock, valued at $8,756,456.96. The disclosure for this sale can be found here. Insiders sold 15,990 shares of company stock valued at $50,335,193 over the last 90 days. 2.50% of the stock is currently owned by company insiders.

AutoZone Company Profile

(Get Free Report)

AutoZone, Inc retails and distributes automotive replacement parts and accessories in the United States, Mexico, and Brazil. The company provides 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.

Further Reading

Earnings History and Estimates for AutoZone (NYSE:AZO)

Receive News & Ratings for AutoZone Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AutoZone and related companies with MarketBeat.com's FREE daily email newsletter.