Zacks: Brokerages Expect AutoZone, Inc. (NYSE:AZO) Will Post Quarterly Sales of $3.71 Billion

Wall Street analysts expect that AutoZone, Inc. (NYSE:AZO – Get Rating) will report $3.71 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Eight analysts have made estimates for AutoZone’s earnings, with the highest sales estimate coming in at $3.78 billion and the lowest estimate coming in at $3.66 billion. AutoZone reported sales of $3.65 billion in the same quarter last year, which indicates a positive year over year growth rate of 1.6%. The business is scheduled to issue its next quarterly earnings results on Monday, January 1st.

According to Zacks, analysts expect that AutoZone will report full-year sales of $15.86 billion for the current fiscal year, with estimates ranging from $15.75 billion to $15.93 billion. For the next financial year, analysts forecast that the firm will report sales of $16.47 billion, with estimates ranging from $16.13 billion to $16.69 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow AutoZone.

AutoZone (NYSE:AZO – Get Rating) last issued its quarterly earnings data on Tuesday, March 1st. The company reported $22.30 earnings per share for the quarter, topping the Zacks’ consensus estimate of $17.79 by $4.51. AutoZone had a net margin of 15.44% and a negative return on equity of 109.21%. The business had revenue of $3.37 billion during the quarter, compared to analysts’ expectations of $3.16 billion. During the same period last year, the company posted $14.93 EPS. The company’s revenue was up 15.8% on a year-over-year basis.

AZO has been the subject of several recent analyst reports. Truist Financial lowered their target price on shares of AutoZone from $2,329.00 to $2,215.00 in a research note on Wednesday, March 2nd. Morgan Stanley lifted their target price on shares of AutoZone from $2,050.00 to $2,125.00 and gave the stock an “equal weight” rating in a research note on Wednesday, March 2nd. StockNews.com initiated coverage on shares of AutoZone in a research note on Thursday, March 31st. They issued a “buy” rating for the company. Wells Fargo & Company lifted their target price on shares of AutoZone from $2,200.00 to $2,350.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 5th. Finally, Argus raised shares of AutoZone from a “hold” rating to a “buy” rating and set a $2,210.00 target price for the company in a research note on Tuesday, March 29th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, AutoZone has an average rating of “Buy” and a consensus target price of $2,073.00.

AZO stock opened at $1,955.47 on Monday. The stock has a market capitalization of $38.81 billion, a P/E ratio of 17.75, a PEG ratio of 1.60 and a beta of 0.92. AutoZone has a one year low of $1,367.96 and a one year high of $2,267.40. The company has a 50 day moving average price of $2,010.54 and a two-hundred day moving average price of $1,959.14.

In other AutoZone news, EVP Preston Frazer sold 1,500 shares of the business’s stock in a transaction on Wednesday, April 20th. The shares were sold at an average price of $2,220.00, for a total value of $3,330,000.00. Following the transaction, the executive vice president now owns 783 shares in the company, valued at approximately $1,738,260. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Philip B. Daniele sold 100 shares of the business’s stock in a transaction on Wednesday, March 9th. The stock was sold at an average price of $1,900.00, for a total transaction of $190,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 7,682 shares of company stock worth $16,146,334 in the last 90 days. Company insiders own 2.60% of the company’s stock.

Hedge funds have recently modified their holdings of the business. D Orazio & Associates Inc. acquired a new position in AutoZone in the 3rd quarter worth $25,000. Comprehensive Financial Consultants Institutional Inc. bought a new stake in shares of AutoZone in the 4th quarter worth about $27,000. Riverview Trust Co bought a new stake in shares of AutoZone in the 1st quarter worth about $27,000. Allworth Financial LP bought a new stake in shares of AutoZone in the 4th quarter worth about $29,000. Finally, CVA Family Office LLC bought a new stake in shares of AutoZone in the 4th quarter worth about $31,000. Hedge funds and other institutional investors own 88.90% of the company’s stock.

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.

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