Brokers Issue Forecasts for AutoZone, Inc.’s FY2024 Earnings (NYSE:AZO)

AutoZone, Inc. (NYSE:AZO) – Equities researchers at Wedbush reduced their FY2024 EPS estimates for AutoZone in a research report issued on Thursday, September 19th. Wedbush analyst S. Basham now expects that the company will post earnings of $150.77 per share for the year, down from their prior forecast of $151.03. Wedbush currently has a “Outperform” rating and a $3,200.00 price target 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.

Other equities research analysts have also recently issued reports about the company. Guggenheim lifted their price objective on AutoZone from $3,150.00 to $3,225.00 and gave the stock a “buy” rating in a research note on Wednesday, June 26th. Evercore ISI lowered their price target on AutoZone from $3,900.00 to $3,350.00 and set an “outperform” rating for the company in a research note on Friday. Oppenheimer reiterated a “market perform” rating and issued a $2,600.00 price target on shares of AutoZone in a research report on Wednesday, June 26th. Finally, StockNews.com cut shares of AutoZone from a “buy” rating to a “hold” rating in a report on Saturday. Three research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $3,129.44.

AutoZone Stock Performance

AZO opened at $3,020.66 on Friday. The company has a fifty day moving average price of $3,105.66 and a two-hundred day moving average price of $3,010.75. The firm has a market capitalization of $51.60 billion, a PE ratio of 20.89, a P/E/G ratio of 1.45 and a beta of 0.71. AutoZone has a 52 week low of $2,375.35 and a 52 week high of $3,256.37.

Hedge Funds Weigh In On AutoZone

Large investors have recently bought and sold shares of the company. Clearbridge Investments LLC grew its holdings in shares of AutoZone by 3.0% in the 4th quarter. Clearbridge Investments LLC now owns 6,179 shares of the company’s stock valued at $15,976,000 after acquiring an additional 179 shares in the last quarter. D.A. Davidson & CO. increased its position in shares of AutoZone by 27.3% during the 4th quarter. D.A. Davidson & CO. now owns 807 shares of the company’s stock worth $2,087,000 after purchasing an additional 173 shares during the last quarter. Assetmark Inc. raised its stake in shares of AutoZone by 10.0% during the 4th quarter. Assetmark Inc. now owns 1,459 shares of the company’s stock worth $3,772,000 after purchasing an additional 133 shares in the last quarter. WBI Investments LLC acquired a new stake in shares of AutoZone in the 4th quarter valued at approximately $225,000. Finally, Hohimer Wealth Management LLC boosted its holdings in shares of AutoZone by 1.4% in the 4th quarter. Hohimer Wealth Management LLC now owns 366 shares of the company’s stock valued at $946,000 after buying an additional 5 shares during the last quarter. Institutional investors and hedge funds own 92.74% of the company’s stock.

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.