AutoZone, Inc. (NYSE:AZO) Forecasted to Earn Q3 2022 Earnings of $25.40 Per Share

AutoZone, Inc. (NYSE:AZOGet Rating) – Analysts at DA Davidson reduced their Q3 2022 earnings estimates for shares of AutoZone in a research note issued to investors on Monday, May 2nd. DA Davidson analyst M. Baker now forecasts that the company will earn $25.40 per share for the quarter, down from their prior estimate of $25.84.

A number of other equities analysts have also recently commented on the company. Citigroup raised their target price on AutoZone from $2,170.00 to $2,210.00 and gave the stock a “buy” rating in a report on Wednesday, March 2nd. Zacks Investment Research downgraded AutoZone from a “strong-buy” rating to a “hold” rating and set a $2,096.00 price target for the company. in a research note on Tuesday, February 8th. StockNews.com started coverage on AutoZone in a research report on Thursday, March 31st. They set a “buy” rating for the company. Raymond James raised their target price on shares of AutoZone from $2,100.00 to $2,400.00 and gave the company an “outperform” rating in a report on Tuesday, April 19th. Finally, Truist Financial dropped their price target on AutoZone from $2,329.00 to $2,215.00 in a research report on Wednesday, March 2nd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Buy” and an average target price of $2,073.00.

AutoZone stock opened at $2,006.69 on Tuesday. AutoZone has a one year low of $1,367.96 and a one year high of $2,267.40. The stock has a market cap of $39.83 billion, a PE ratio of 18.21, a price-to-earnings-growth ratio of 1.55 and a beta of 0.90. The stock has a fifty day moving average of $2,013.66 and a 200 day moving average of $1,961.05.

AutoZone (NYSE:AZOGet Rating) last posted its quarterly earnings results on Tuesday, March 1st. The company reported $22.30 EPS for the quarter, beating 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 firm had revenue of $3.37 billion for the quarter, compared to analysts’ expectations of $3.16 billion. During the same quarter in the prior year, the company posted $14.93 earnings per share. The business’s revenue for the quarter was up 15.8% on a year-over-year basis.

In other news, EVP Preston Frazer sold 1,500 shares of the business’s stock in a transaction on Wednesday, April 20th. The stock was sold at an average price of $2,220.00, for a total value of $3,330,000.00. Following the completion of the transaction, the executive vice president now directly owns 783 shares of the company’s stock, valued at approximately $1,738,260. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Albert Saltiel sold 2,752 shares of AutoZone stock in a transaction dated Thursday, April 7th. The shares were sold at an average price of $2,154.70, for a total value of $5,929,734.40. Following the completion of 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. Insiders have sold a total of 7,682 shares of company stock worth $16,146,334 in the last three months. Insiders own 2.60% of the company’s stock.

A number of large investors have recently bought and sold shares of the stock. BlackRock Inc. grew its holdings in AutoZone by 1.1% in the fourth quarter. BlackRock Inc. now owns 1,513,879 shares of the company’s stock worth $3,173,680,000 after purchasing an additional 15,922 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of AutoZone by 4.9% in the 4th quarter. JPMorgan Chase & Co. now owns 1,043,767 shares of the company’s stock worth $2,188,144,000 after purchasing an additional 48,423 shares in the last quarter. State Street Corp grew its stake in AutoZone by 1.9% during the 4th quarter. State Street Corp now owns 901,396 shares of the company’s stock worth $1,889,678,000 after buying an additional 16,973 shares during the last quarter. Geode Capital Management LLC increased its position in AutoZone by 0.8% during the 4th quarter. Geode Capital Management LLC now owns 443,157 shares of the company’s stock valued at $927,398,000 after buying an additional 3,608 shares in the last quarter. Finally, First Manhattan Co. increased its position in AutoZone by 1.4% during the 3rd quarter. First Manhattan Co. now owns 271,381 shares of the company’s stock valued at $460,802,000 after buying an additional 3,681 shares in the last quarter. 95.97% of the stock is owned by institutional investors.

About AutoZone (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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Earnings History and Estimates for AutoZone (NYSE:AZO)

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