AutoZone, Inc. (AZO): Monthly Stock Report
Publication Date: September 22, 2024
Company Overview
AutoZone, Inc. (AZO) is a leading retailer and distributor of automotive replacement parts and accessories, with operations spanning the United States, Mexico, and Brazil. Established in 1979 and headquartered in Memphis, Tennessee, AutoZone offers a wide range of products for cars, SUVs, vans, and light trucks, including both new and remanufactured hard parts as well as maintenance items. The company enhances its service offerings through commercial credit options and automotive diagnostic software under its ALLDATA brand. Since its initial public offering in January 1997, AutoZone has solidified its stature in the Consumer Cyclical sector and emerged as a key player in the specialty retail industry.
Growth Potential and Market Sentiment
AutoZone has demonstrated robust financial performance with total revenue reaching approximately $17.98 billion. As consumer spending tends to increase during economic recovery, the specialty retail segment is poised for growth, further supporting a buy recommendation for AZO stock. Market analysts have set a bullish target high price of $3,900, indicating strong confidence in AutoZone’s future potential. With a current share price of $3,020.66, there is substantial room for appreciation, as the estimated mean price sits at $3,284.82. Additionally, the relatively low short percent of float, at only 2.81%, suggests limited bearish sentiment among investors, further reinforcing the optimistic outlook for AutoZone’s stock performance.
Technical Analysis and Performance Indicators
AutoZone’s stock price is currently below its fifty-day moving average of $3,100.05, indicating a recent underperformance relative to historical trends. The stock has experienced notable price fluctuations over the past year, with a fifty-two-week high of $3,256.37 and a low of $2,375.35. This volatility may create opportunities for investors, with the high serving as a potential resistance level and the low reflecting support. Analysts are largely favoring AZO, evidenced by a mean recommendation score of 1.9 across 21 opinions, which signals a consensus to buy. Overall, AutoZone’s combination of solid financials and positive market sentiment positions it favorably in the evolving landscape of the automotive retail market.
| Metric | Value |
|---|---|
| Market Cap | $51.6b |
| Total Debt | $12.6b |
| Total Cash | $336.0m |
| Shares Outstanding | 17.1m |
| Float Shares | 17.0m |
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