AutoZone (NYSE:AZO) Posts Quarterly Earnings Results, Beats Estimates By $1.85 EPS

AutoZone (NYSE:AZOGet Free Report) announced its earnings results on Tuesday. The company reported $38.07 EPS for the quarter, topping analysts’ consensus estimates of $36.22 by $1.85, FiscalAI reports. The business had revenue of $4.84 billion during the quarter, compared to the consensus estimate of $4.86 billion. AutoZone had a net margin of 12.47% and a negative return on equity of 72.31%.

AutoZone Stock Down 0.1%

AZO stock opened at $3,401.96 on Tuesday. The stock has a market capitalization of $56.06 billion, a PE ratio of 23.83, a price-to-earnings-growth ratio of 1.74 and a beta of 0.43. AutoZone has a 52 week low of $3,210.72 and a 52 week high of $4,388.11. The firm has a 50 day moving average of $3,457.35 and a 200 day moving average of $3,583.61.

Insider Transactions at AutoZone

In other AutoZone news, Director Earl G. Graves, Jr. sold 50 shares of the firm’s stock in a transaction on Friday, April 10th. The shares were sold at an average price of $3,478.72, for a total value of $173,936.00. Following the completion of the transaction, the director owned 4,837 shares of the company’s stock, valued at approximately $16,826,568.64. This trade represents a 1.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On AutoZone

Hedge funds have recently made changes to their positions in the company. Sivia Capital Partners LLC purchased a new position in shares of AutoZone in the second quarter worth about $356,000. Brighton Jones LLC boosted its position in AutoZone by 14.4% in the fourth quarter. Brighton Jones LLC now owns 111 shares of the company’s stock valued at $356,000 after buying an additional 14 shares during the last quarter. Lyell Wealth Management LP boosted its position in AutoZone by 5.0% in the fourth quarter. Lyell Wealth Management LP now owns 63 shares of the company’s stock valued at $214,000 after buying an additional 3 shares during the last quarter. Mission Creek Capital Partners Inc. acquired a new position in AutoZone in the 4th quarter worth approximately $210,000. Finally, Clark Capital Management Group Inc. acquired a new position in AutoZone in the 3rd quarter worth approximately $210,000. 92.74% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently issued reports on AZO. TD Cowen cut their price objective on shares of AutoZone from $4,400.00 to $4,250.00 and set a “buy” rating on the stock in a research report on Monday, March 16th. Truist Financial decreased their target price on shares of AutoZone from $4,076.00 to $4,045.00 and set a “buy” rating for the company in a research report on Wednesday, March 4th. JPMorgan Chase & Co. lifted their price target on shares of AutoZone from $4,100.00 to $4,300.00 and gave the stock an “overweight” rating in a report on Thursday, February 26th. The Goldman Sachs Group upped their price target on AutoZone from $4,274.00 to $4,345.00 and gave the stock a “buy” rating in a research report on Wednesday, March 4th. Finally, Mizuho increased their price objective on AutoZone from $3,550.00 to $3,600.00 and gave the company a “neutral” rating in a report on Thursday, March 5th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $4,290.91.

Check Out Our Latest Stock Analysis on AZO

AutoZone Company Profile

(Get Free Report)

AutoZone, Inc (NYSE: AZO) is a retailer and distributor of automotive replacement parts and accessories. Headquartered in Memphis, Tennessee, the company supplies a wide range of aftermarket components, maintenance items and accessories for passenger cars, light trucks and commercial vehicles. Its product assortment includes engine parts, electrical components, batteries, brakes, filters, fluids and interior and exterior accessories, supported by inventory management and logistics systems to serve retail customers and professional service providers.

AutoZone serves both do‑it‑yourself (DIY) consumers and commercial customers such as independent repair shops and service centers.

See Also

Earnings History for AutoZone (NYSE:AZO)

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