In Chicago, Illinois, on December 14, 2021, the city is expected to host the 2021 Winter Olympics. The list of stocks mentioned in the Analyst Blog may be seen on Zacks.com. Every day the Zacks Equity Research team discusses the latest developments in the stock and monetary markets. Stocks that have been mentioned recently in the blog include Autozone Stock(AZO), Thor Industries (THD), Asbury Automotive Group (ABG), Lithia (LIH), Chap, and Ford Motor Company.
This Week’s Analyst Blog Highlights Include The Following:
Review of Autozone StockBiggest ever acquisition, new overseas plants, and that are only the start!
Both AutoZone and Thor Industries surprised the industry last week by reporting strong quarterly results. The Stevinson Automotive Autozone Stock purchase, which added $715 million in annualized income to Asbury Automotive Group’s revenue, gave the auto retailer a chance to seize the limelight. As part of its takeover effort, Lithia Motors repurchased three Ford dealerships from Elder Auto Group. Ford’s decision to invest $900 million in Thailand’s redevelopment of its manufacturing facilities also made headlines this week.
It has been discovered that chip shortage has been wreaking havoc on the automobile industry in China, where the country’s largest vehicle market is located, by the China Association of Autozone StockManufacturers (CAAM). This is the sixth straight month that the number of vehicles sold in the United States has fallen. Regardless, Chinese sales of new energy cars surged by 121 percent to 450,000 units in November, showing that the country’s electric vehicles have worked out how to support the force.
1. Top Stories from the Past Week
In the first quarter of fiscal 2022, Autozone Stock reported a profit of $25.69 per share, compared to the previous year’s result of $18.61 per share. Furthermore, the Zacks Consensus Estimate of $20.83 for the key concern was surpassed by strong comparable transaction development. Compared to the Zacks Consensus Estimate of 3.9 percent, homegrown same-store sales grew 13.6 percent, a significant improvement. In comparison to the Zacks Consensus Estimate of $3,358 million, net transactions grew 16.3% year over year to $3,668.9 million.
By the 20th of November 2021, Autozone Stock cash and cash equivalents had fallen to $961.1 million from $1,664 million on the 21st of November of the previous year. As of Nov. 20, 2021, total liability was $5,271.3 million, a decrease from $5,514.8 million at the time of comparison in 2020. At an average cost of $1,749 per share, it bought back 515,000 shares for $900 million in the first quarter of the current fiscal year. In the current buyback permission, Autozone Stock has shares remaining valued at roughly $1 billion.
2. Stevinson Automotive acquisition was completed by Asbury.
Eight new car dealerships have been taken over by Stevinson, including two Lexus, two Toyotas, one Porsche, one Chevrolet, one Hyundai, and one Jaguar, as well as an additional Land Rover open location.
Stevinson, a highly recognized and successful showroom group, will aid Asbury in establishing a strong presence in the vibrant and enticing Denver market. To help ABG reach its five-year goal of generating $20 billion in annual revenues by 2025, the purchase will bring in an additional $715 million in annualized income.
3. The Elder Auto Group sold three Ford dealerships to Lithia.
In Florida, area 6, Elder Ford of Tampa and Elder Ford of Troy and Elder Ford of Romeo would assist Lithia Autozone StockMotors’ homegrown image, and in Location 3, Elder Ford of Troy and Romeo would give thickness to Michigan operations. As a group, the shops are expected to bring in $425 million in yearly revenue. The buys were financed using the existing on-accounting report limit.
LAD’s absolute estimated yearly earnings in 2021 will likely reach about $7 billion because of the planned growth of Elder Ford outlets. The company is currently on track to achieve the five-year plan benchmark of $50 billion in earnings and $50 in profit per share, which was announced in July 2020. Lithia has a Zacks Rank #3 at the moment (Hold). The complete list of today’s Zacks #1 Rank (Strong Buy) stocks can be seen here.
4. As part of the renovation of Passage’s assembly facilities in Thailand
New, best-in-class ideas and frameworks are being invested in as part of the Ford+ agenda for growth and value generation. With the new Ford Ranger pickup and the new Ford Everest SUV, Ford will be able to maintain the development of both models. Ford Thailand Manufacturing and Autozone StockThailand Truck Plant, a joint venture with Mazda Corporation, will implement the modernization initiative.
Changed income of $4.34 per share outperformed expectations of $3.10 and jumped 111.7 percent from the year’s previous benefit of $2.05, according to Thor’s results. On a year-over-year basis, the company reported $3,958.2 million in earnings, exceeding the Zacks Consensus Estimate of $3,397 million. Thor has $339.3 million in cash and cash equivalents and a long-term liability of $2,232.3 million as of October 31, 2021. As of the conclusion of the quarter, United had a surplus of $18.07 billion.
The acquisition of Elkhart Composites, Inc. was announced by Thor in a separate course of events. Thor will now have access to an unlimited supply of Elkboard, an unmatched and best-in-class component that has been utilized in many of Thor’s RV donations in the past. However, Elkboard has agreed to make considerable investments in the company to maintain its current production limit.
What’s Next In The Auto Industry?
There will be a lot of eyes on the European AutomobileAutozone Stock Manufacturers Association’s report on European Union passenger vehicle registrations for November this week. Also, keep an eye out for updates on how manufacturers plan to deal with the shortage of semiconductors and alter business processes.
There is no guarantee of future results based on past performance with the Autozone Coupon Code. The risk of bad luck is inherent in every kind of speculating. This content is being used only for educational reasons and does not include investment, legal, accounting, or tax advice, or a recommendation to buy, sell, or hold an asset.
