Wedbush Research Analysts Lower Earnings Estimates for AutoZone, Inc. (NYSE:AZO)

AutoZone, Inc. (NYSE:AZO) – Stock analysts at Wedbush reduced their FY2024 earnings per share estimates for shares of AutoZone in a research note issued on Thursday, September 19th. Wedbush analyst S. Basham now forecasts that the company will post earnings of $150.77 per share for the year, down from their previous estimate of $151.03. Wedbush has a “Outperform” rating and a $3,200.00 price objective on the stock. The consensus estimate for AutoZone’s current full-year earnings is $151.37 per share. Wedbush also issued estimates for AutoZone’s Q4 2024 earnings at $52.64 EPS, Q1 2025 earnings at $34.98 EPS, Q2 2025 earnings at $31.41 EPS, Q3 2025 earnings at $40.16 EPS, Q4 2025 earnings at $55.46 EPS, FY2025 earnings at $161.91 EPS and FY2026 earnings at $179.91 EPS.

A number of other research firms have also commented on AZO. Guggenheim raised their price objective on shares of AutoZone from $3,150.00 to $3,225.00 and gave the stock a “buy” rating in a research note on Wednesday, June 26th. StockNews.com upgraded AutoZone from a “hold” rating to a “buy” rating in a report on Friday, September 13th. Oppenheimer reissued a “market perform” rating and set a $2,600.00 price target on shares of AutoZone in a research report on Wednesday, June 26th. Finally, Evercore ISI decreased their price objective on AutoZone from $3,900.00 to $3,350.00 and set an “outperform” rating for the company in a research report on Friday. Two investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $3,117.12.

AutoZone Price Performance

AutoZone stock opened at $3,016.89 on Friday. AutoZone has a fifty-two week low of $2,375.35 and a fifty-two week high of $3,256.37. The firm’s 50 day simple moving average is $3,105.66 and its 200-day simple moving average is $3,011.39. The company has a market cap of $51.54 billion, a P/E ratio of 20.87, a price-to-earnings-growth ratio of 1.45 and a beta of 0.71.

Institutional Investors Weigh In On AutoZone

Large investors have recently bought and sold shares of the business. Anchor Investment Management LLC boosted its stake in shares of AutoZone by 5.8% during the 2nd quarter. Anchor Investment Management LLC now owns 1,042 shares of the company’s stock worth $3,089,000 after acquiring an additional 57 shares in the last quarter. Sanctuary Advisors LLC bought a new stake in AutoZone during the second quarter worth approximately $2,249,000. 3Chopt Investment Partners LLC acquired a new position in AutoZone during the second quarter valued at approximately $362,000. Brandes Investment Partners LP raised its position in shares of AutoZone by 18.3% in the second quarter. Brandes Investment Partners LP now owns 17,174 shares of the company’s stock valued at $50,897,000 after purchasing an additional 2,660 shares during the period. Finally, Regal Investment Advisors LLC lifted its stake in shares of AutoZone by 39.3% in the second quarter. Regal Investment Advisors LLC now owns 248 shares of the company’s stock worth $735,000 after buying an additional 70 shares during the last quarter. 92.74% of the stock is currently owned by institutional investors.

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.