AutoZone, Inc. (NYSE:AZO) – Research analysts at Oppenheimer upped their Q1 2022 earnings per share estimates for AutoZone in a report released on Wednesday, September 22nd. Oppenheimer analyst B. Nagel now anticipates that the company will earn $20.42 per share for the quarter, up from their previous forecast of $19.79. Oppenheimer has a “Outperform” rating and a $1,850.00 price objective on the stock.
Several other research firms also recently commented on AZO. Credit Suisse Group increased their price objective on shares of AutoZone from $1,660.00 to $1,785.00 and gave the company an “outperform” rating in a report on Wednesday. Argus downgraded shares of AutoZone from a “buy” rating to a “hold” rating in a research note on Monday, June 7th. They noted that the move was a valuation call. Wedbush increased their price target on AutoZone from $1,650.00 to $1,820.00 and gave the stock an “outperform” rating in a report on Wednesday. Wells Fargo & Company boosted their price objective on AutoZone from $1,700.00 to $1,750.00 and gave the company an “overweight” rating in a report on Monday, September 13th. Finally, Morgan Stanley boosted their price objective on AutoZone from $1,650.00 to $1,710.00 and gave the company an “equal weight” rating in a report on Wednesday. One analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $1,651.89.
AutoZone (NYSE:AZO) last released its quarterly earnings data on Monday, September 20th. The company reported $35.72 EPS for the quarter, beating the consensus estimate of $30.20 by $5.52. AutoZone had a net margin of 14.90% and a negative return on equity of 163.72%. The business had revenue of $4.91 billion during the quarter, compared to the consensus estimate of $4.57 billion. During the same quarter in the prior year, the firm earned $30.93 EPS. The business’s revenue was up 8.1% on a year-over-year basis.
In other news, CEO William C. Rhodes III sold 4,492 shares of the stock in a transaction dated Tuesday, June 29th. The stock was sold at an average price of $1,501.14, for a total value of $6,743,120.88. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO William C. Rhodes III sold 14,535 shares of the stock in a transaction dated Thursday, July 1st. The shares were sold at an average price of $1,511.74, for a total value of $21,973,140.90. Following the completion of the transaction, the chief executive officer now directly owns 33,491 shares in the company, valued at $50,629,684.34. The disclosure for this sale can be found here. Insiders have sold a total of 45,444 shares of company stock worth $71,603,903 over the last ninety days. 2.80% of the stock is currently owned by corporate insiders.
Large investors have recently bought and sold shares of the business. JPMorgan Chase & Co. boosted its stake in AutoZone by 26.7% during the first quarter. JPMorgan Chase & Co. now owns 1,134,026 shares of the company’s stock worth $1,592,512,000 after buying an additional 239,250 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in AutoZone by 88.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 228,278 shares of the company’s stock valued at $320,571,000 after acquiring an additional 107,164 shares in the last quarter. Factorial Partners LLC boosted its stake in AutoZone by 140,330.0% in the first quarter. Factorial Partners LLC now owns 98,301 shares of the company’s stock valued at $70,000 after acquiring an additional 98,231 shares in the last quarter. Morgan Stanley boosted its stake in AutoZone by 26.4% in the second quarter. Morgan Stanley now owns 291,351 shares of the company’s stock valued at $434,761,000 after acquiring an additional 60,824 shares in the last quarter. Finally, Macquarie Group Ltd. boosted its stake in shares of AutoZone by 195.0% during the second quarter. Macquarie Group Ltd. now owns 88,961 shares of the company’s stock worth $132,749,000 after buying an additional 58,809 shares during the period. Institutional investors own 87.65% of the company’s stock.
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.
Read More: How do investors use RSI to grade stocks?
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.