AutoZone, Inc. to Post Q1 2022 Earnings of $20.43 Per Share, DA Davidson Forecasts (NYSE:AZO)

AutoZone, Inc. (NYSE:AZO) – DA Davidson issued their Q1 2022 earnings estimates for AutoZone in a note issued to investors on Wednesday, September 22nd. DA Davidson analyst M. Baker forecasts that the company will earn $20.43 per share for the quarter. DA Davidson currently has a “Neutral” rating and a $1,600.00 target price on the stock. DA Davidson also issued estimates for AutoZone’s FY2022 earnings at $99.75 EPS and FY2023 earnings at $110.38 EPS.

AutoZone (NYSE:AZO) last issued its quarterly earnings data on Monday, September 20th. The company reported $35.72 earnings per share for the quarter, beating analysts’ consensus estimates of $30.20 by $5.52. AutoZone had a negative return on equity of 163.72% and a net margin of 14.90%. The firm had revenue of $4.91 billion during the quarter, compared to analyst estimates of $4.57 billion. During the same quarter last year, the firm earned $30.93 EPS. AutoZone’s quarterly revenue was up 8.1% on a year-over-year basis.

A number of other equities research analysts have also weighed in on the company. Raymond James raised their price objective on AutoZone from $1,750.00 to $1,800.00 and gave the company an “outperform” rating in a research note on Wednesday. Wells Fargo & Company increased their target price on AutoZone from $1,700.00 to $1,750.00 and gave the stock an “overweight” rating in a report on Monday, September 13th. Morgan Stanley increased their target price on AutoZone from $1,650.00 to $1,710.00 and gave the stock an “equal weight” rating in a report on Wednesday. Citigroup increased their target price on AutoZone from $1,870.00 to $1,950.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, Bank of America increased their target price on AutoZone from $1,390.00 to $1,490.00 and gave the stock an “underperform” rating in a report on Wednesday. One research analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, AutoZone currently has a consensus rating of “Buy” and a consensus price target of $1,651.89.

Shares of NYSE AZO opened at $1,687.79 on Thursday. AutoZone has a fifty-two week low of $1,085.85 and a fifty-two week high of $1,704.02. The business has a 50 day moving average price of $1,602.03 and a two-hundred day moving average price of $1,494.65. The firm has a market cap of $36.36 billion, a PE ratio of 18.56, a price-to-earnings-growth ratio of 1.46 and a beta of 0.94.

A number of institutional investors have recently made changes to their positions in the business. MAI Capital Management raised its stake in AutoZone by 1.5% during the 2nd quarter. MAI Capital Management now owns 474 shares of the company’s stock valued at $707,000 after acquiring an additional 7 shares in the last quarter. Berman Capital Advisors LLC increased its position in shares of AutoZone by 8.9% during the 2nd quarter. Berman Capital Advisors LLC now owns 86 shares of the company’s stock valued at $127,000 after purchasing an additional 7 shares during the period. Penserra Capital Management LLC increased its position in shares of AutoZone by 16.3% during the 1st quarter. Penserra Capital Management LLC now owns 57 shares of the company’s stock valued at $80,000 after purchasing an additional 8 shares during the period. Equitable Trust Co. increased its position in shares of AutoZone by 4.5% during the 1st quarter. Equitable Trust Co. now owns 186 shares of the company’s stock valued at $262,000 after purchasing an additional 8 shares during the period. Finally, Dumont & Blake Investment Advisors LLC increased its position in shares of AutoZone by 1.2% during the 2nd quarter. Dumont & Blake Investment Advisors LLC now owns 666 shares of the company’s stock valued at $994,000 after purchasing an additional 8 shares during the period. 87.65% of the stock is currently owned by hedge funds and other institutional investors.

In other AutoZone news, VP Ronald B. Griffin sold 7,017 shares of AutoZone stock in a transaction on Friday, July 16th. The stock was sold at an average price of $1,608.29, for a total transaction of $11,285,370.93. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Mark A. Finestone sold 7,900 shares of AutoZone stock in a transaction on Friday, July 9th. The shares were sold at an average price of $1,556.75, for a total value of $12,298,325.00. Following the sale, the vice president now directly owns 12,112 shares in the company, valued at approximately $18,855,356. The disclosure for this sale can be found here. In the last three months, insiders sold 33,944 shares of company stock worth $52,299,958. Company insiders own 2.80% of the company’s stock.

AutoZone Company Profile

AutoZone, Inc engages in the retail and distribution of automotive replacement parts and accessories. The firm offers ALLDATA, which produces, sells and maintains diagnostic and repair information software used in the automotive repair industry and E-commerce, which includes direct sales to customers.

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Earnings History and Estimates for AutoZone (NYSE:AZO)

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