AutoZone, Inc. (NYSE:AZO) Forecasted to Post FY2022 Earnings of $114.78 Per Share

AutoZone, Inc. (NYSE:AZOGet Rating) – Research analysts at Oppenheimer raised their FY2022 EPS estimates for AutoZone in a research note issued on Wednesday, May 25th. Oppenheimer analyst B. Nagel now anticipates that the company will post earnings per share of $114.78 for the year, up from their previous estimate of $111.29. Oppenheimer also issued estimates for AutoZone’s Q4 2022 earnings at $38.23 EPS.

A number of other equities research analysts also recently issued reports on AZO. JPMorgan Chase & Co. increased their price target on shares of AutoZone from $2,175.00 to $2,200.00 and gave the stock an “overweight” rating in a report on Wednesday, March 2nd. Wedbush restated an “outperform” rating on shares of AutoZone in a research report on Monday, May 23rd. Truist Financial reduced their price target 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. Citigroup increased their price objective on AutoZone from $2,210.00 to $2,250.00 in a research note on Friday, May 13th. Finally, DA Davidson raised their price target on AutoZone from $1,900.00 to $1,920.00 and gave the stock a “neutral” rating in a research note on Wednesday. One analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, AutoZone currently has a consensus rating of “Buy” and a consensus target price of $2,095.33.

AZO stock opened at $2,055.39 on Friday. The firm has a market cap of $40.80 billion, a P/E ratio of 18.65, a P/E/G ratio of 1.50 and a beta of 0.90. AutoZone has a 12 month low of $1,367.96 and a 12 month high of $2,267.40. The company’s 50-day moving average price is $2,041.32 and its two-hundred day moving average price is $1,979.42.

AutoZone (NYSE:AZOGet Rating) last posted its earnings results on Tuesday, May 24th. The company reported $29.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $25.70 by $3.33. AutoZone had a net margin of 15.44% and a negative return on equity of 109.21%. The company had revenue of $3.87 billion during the quarter, compared to analysts’ expectations of $3.71 billion. During the same quarter last year, the company posted $26.48 EPS. AutoZone’s quarterly revenue was up 5.9% compared to the same quarter last year.

In other AutoZone news, EVP Preston Frazer sold 1,500 shares of the stock in a transaction that occurred on Wednesday, April 20th. The stock was sold at an average price of $2,220.00, for a total transaction of $3,330,000.00. Following the transaction, the executive vice president now owns 783 shares in the company, valued at $1,738,260. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Albert Saltiel sold 2,752 shares of the stock in a transaction that occurred on Thursday, April 7th. The stock was sold at an average price of $2,154.70, for a total value of $5,929,734.40. Following the transaction, the vice president now owns 323 shares in the company, valued at approximately $695,968.10. The disclosure for this sale can be found here. Over the last quarter, insiders sold 7,682 shares of company stock valued at $16,146,334. 2.60% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently modified their holdings of AZO. Comprehensive Financial Consultants Institutional Inc. acquired a new position in AutoZone during the 4th quarter worth $27,000. Riverview Trust Co purchased a new stake in shares of AutoZone in the 1st quarter valued at about $27,000. Allworth Financial LP purchased a new stake in shares of AutoZone in the 4th quarter valued at about $29,000. Tcwp LLC acquired a new position in AutoZone in the 1st quarter valued at about $30,000. Finally, CVA Family Office LLC acquired a new position in AutoZone in the 4th quarter valued at about $31,000. 95.97% of the stock is owned by institutional investors and hedge funds.

AutoZone Company Profile (Get Rating)

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.

See Also

Earnings History and Estimates for AutoZone (NYSE:AZO)

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