FY2024 Earnings Estimate for AutoZone, Inc. Issued By William Blair (NYSE:AZO)

AutoZone, Inc. (NYSE:AZO) – Research analysts at William Blair cut their FY2024 earnings per share (EPS) estimates for shares of AutoZone in a research report issued on Tuesday, May 21st. William Blair analyst P. Blee now forecasts that the company will post earnings of $152.17 per share for the year, down from their previous forecast of $153.91. The consensus estimate for AutoZone’s current full-year earnings is $152.27 per share. William Blair also issued estimates for AutoZone’s FY2025 earnings at $170.62 EPS.

AutoZone (NYSE:AZO) last released its earnings results on Tuesday, May 21st. The company reported $36.69 EPS for the quarter, beating the consensus estimate of $35.67 by $1.02. The firm had revenue of $4.24 billion for the quarter, compared to analysts’ expectations of $4.29 billion. AutoZone had a negative return on equity of 56.06% and a net margin of 14.70%. The business’s quarterly revenue was up 3.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $34.12 EPS.

AZO has been the topic of several other research reports. Citigroup cut their target price on AutoZone from $3,420.00 to $3,250.00 and set a “buy” rating on the stock in a research note on Wednesday. JPMorgan Chase & Co. boosted their price target on AutoZone from $3,000.00 to $3,200.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 28th. Barclays lowered their price target on AutoZone from $3,100.00 to $3,024.00 and set an “overweight” rating on the stock in a research report on Thursday. UBS Group lowered their price target on AutoZone from $3,465.00 to $3,340.00 and set a “buy” rating on the stock in a research report on Wednesday. Finally, Wedbush lowered their price target on AutoZone from $3,400.00 to $3,200.00 and set an “outperform” rating on the stock in a research report on Wednesday. Five research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, AutoZone has an average rating of “Moderate Buy” and an average price target of $3,066.53.

AutoZone Stock Performance

NYSE AZO opened at $2,796.98 on Thursday. The stock has a market capitalization of $48.44 billion, a price-to-earnings ratio of 19.69, a PEG ratio of 1.37 and a beta of 0.72. The stock’s 50 day moving average price is $3,009.41 and its two-hundred day moving average price is $2,827.75. AutoZone has a 52 week low of $2,277.88 and a 52 week high of $3,256.37.

Institutional Trading of AutoZone

A number of institutional investors have recently modified their holdings of AZO. LGT Capital Partners LTD. lifted its position in shares of AutoZone by 32.2% during the 4th quarter. LGT Capital Partners LTD. now owns 27,250 shares of the company’s stock worth $70,458,000 after buying an additional 6,630 shares during the last quarter. SRS Capital Advisors Inc. lifted its position in shares of AutoZone by 49.0% during the 4th quarter. SRS Capital Advisors Inc. now owns 155 shares of the company’s stock worth $401,000 after buying an additional 51 shares during the last quarter. Headlands Technologies LLC bought a new stake in shares of AutoZone during the 4th quarter worth $145,000. Knights of Columbus Asset Advisors LLC lifted its position in shares of AutoZone by 17.6% during the 4th quarter. Knights of Columbus Asset Advisors LLC now owns 1,701 shares of the company’s stock worth $4,398,000 after buying an additional 255 shares during the last quarter. Finally, Handelsbanken Fonder AB lifted its position in shares of AutoZone by 8.1% during the 4th quarter. Handelsbanken Fonder AB now owns 7,544 shares of the company’s stock worth $19,506,000 after buying an additional 566 shares during the last quarter. 92.74% of the stock is currently owned by institutional investors.

Insider Buying and Selling at AutoZone

In other AutoZone news, CEO Philip B. Daniele sold 4,190 shares of the company’s stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $3,161.68, for a total value of $13,247,439.20. Following the transaction, the chief executive officer now directly owns 900 shares of the company’s stock, valued at approximately $2,845,512. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CEO Philip B. Daniele sold 4,190 shares of the company’s stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $3,161.68, for a total transaction of $13,247,439.20. Following the completion of the sale, the chief executive officer now directly owns 900 shares in the company, valued at approximately $2,845,512. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Eric S. Gould sold 2,100 shares of the company’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $3,200.00, for a total value of $6,720,000.00. Following the sale, the vice president now owns 910 shares of the company’s stock, valued at $2,912,000. The disclosure for this sale can be found here. Insiders have sold a total of 15,990 shares of company stock valued at $50,335,193 in the last ninety days. 2.50% of the stock is currently owned by corporate insiders.

AutoZone Company Profile

AutoZone, Inc retails and distributes automotive replacement parts and accessories in the United States, Mexico, and Brazil. The company provides 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.