AutoZone (NYSE:AZO) Posts Earnings Results

AutoZone (NYSE:AZOGet Rating) issued its earnings results on Tuesday. The company reported $29.03 earnings per share for the quarter, topping the consensus estimate of $25.70 by $3.33, RTT News reports. The business had revenue of $3.87 billion for the quarter, compared to analyst estimates of $3.71 billion. AutoZone had a negative return on equity of 109.21% and a net margin of 15.44%. The business’s quarterly revenue was up 5.9% on a year-over-year basis. During the same period last year, the company posted $26.48 EPS.

Shares of AZO stock opened at $1,964.66 on Thursday. The company has a market capitalization of $39.00 billion, a price-to-earnings ratio of 17.83, a P/E/G ratio of 1.50 and a beta of 0.90. AutoZone has a 12-month low of $1,367.96 and a 12-month high of $2,267.40. The firm has a fifty day moving average of $2,037.74 and a 200-day moving average of $1,975.98.

In other news, EVP Preston Frazer sold 1,500 shares of the firm’s stock in a transaction dated Wednesday, April 20th. The shares were sold at an average price of $2,220.00, for a total transaction of $3,330,000.00. Following the completion of the sale, the executive vice president now owns 783 shares in the company, valued at approximately $1,738,260. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Eric S. Gould sold 2,550 shares of AutoZone stock in a transaction dated Thursday, March 24th. The stock was sold at an average price of $2,000.00, for a total transaction of $5,100,000.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 7,682 shares of company stock valued at $16,146,334. 2.60% of the stock is owned by insiders.

A number of hedge funds have recently added to or reduced their stakes in the business. Toroso Investments LLC grew its holdings in shares of AutoZone by 9.7% during the 1st quarter. Toroso Investments LLC now owns 722 shares of the company’s stock valued at $1,476,000 after purchasing an additional 64 shares during the last quarter. Wealthfront Advisers LLC lifted its position in shares of AutoZone by 115.0% in the 1st quarter. Wealthfront Advisers LLC now owns 1,645 shares of the company’s stock worth $3,363,000 after purchasing an additional 880 shares during the period. Advisors Asset Management Inc. lifted its position in shares of AutoZone by 12.6% in the 1st quarter. Advisors Asset Management Inc. now owns 570 shares of the company’s stock worth $1,165,000 after purchasing an additional 64 shares during the period. Lido Advisors LLC lifted its position in shares of AutoZone by 22.8% in the 1st quarter. Lido Advisors LLC now owns 156 shares of the company’s stock worth $318,000 after purchasing an additional 29 shares during the period. Finally, Beacon Pointe Advisors LLC lifted its position in shares of AutoZone by 59.7% in the 1st quarter. Beacon Pointe Advisors LLC now owns 190 shares of the company’s stock worth $388,000 after purchasing an additional 71 shares during the period. 95.97% of the stock is currently owned by hedge funds and other institutional investors.

AZO has been the topic of several research reports. Morgan Stanley increased their target price on AutoZone from $2,050.00 to $2,125.00 and gave the stock an “equal weight” rating in a research report on Wednesday, March 2nd. Argus raised AutoZone from a “hold” rating to a “buy” rating and set a $2,210.00 target price on the stock in a research report on Tuesday, March 29th. Zacks Investment Research lowered AutoZone from a “strong-buy” rating to a “hold” rating and set a $2,096.00 target price on the stock. in a research report on Tuesday, February 8th. JPMorgan Chase & Co. raised their price objective on AutoZone from $2,175.00 to $2,200.00 and gave the company an “overweight” rating in a research report on Wednesday, March 2nd. Finally, StockNews.com began coverage on AutoZone in a research report on Thursday, March 31st. They issued a “buy” rating on the stock. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, AutoZone presently has an average rating of “Buy” and a consensus price target of $2,063.47.

AutoZone Company Profile (Get Rating)

AutoZone, Inc retails and distributes automotive replacement parts and accessories. The company offers 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. Its products include A/C compressors, batteries and accessories, bearings, belts and hoses, calipers, chassis, clutches, CV axles, engines, fuel pumps, fuses, ignition and lighting products, mufflers, radiators, starters and alternators, thermostats, and water pumps, as well as tire repairs.

Further Reading

Earnings History for AutoZone (NYSE:AZO)

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