AutoZone (NYSE:AZO – Get Rating) announced its quarterly earnings results on Monday. The company reported $40.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $38.31 by $2.20, MarketWatch Earnings reports. The firm had revenue of $5.35 billion during the quarter, compared to the consensus estimate of $5.16 billion. AutoZone had a negative return on equity of 79.74% and a net margin of 14.95%. The firm’s quarterly revenue was up 8.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $35.72 EPS.
AutoZone Price Performance
AZO stock opened at $2,131.47 on Wednesday. The firm has a market cap of $41.54 billion, a price-to-earnings ratio of 18.14, a PEG ratio of 1.49 and a beta of 0.78. AutoZone has a 1-year low of $1,605.97 and a 1-year high of $2,362.24. The firm has a fifty day moving average price of $2,189.23 and a two-hundred day moving average price of $2,094.60.
Wall Street Analyst Weigh In
A number of equities research analysts have recently issued reports on the company. Jefferies Financial Group increased their target price on AutoZone from $2,350.00 to $2,450.00 and gave the company a “buy” rating in a research note on Tuesday. The Goldman Sachs Group upgraded shares of AutoZone from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $1,969.00 to $2,296.00 in a research note on Monday, June 27th. UBS Group upped their target price on shares of AutoZone from $2,100.00 to $2,260.00 and gave the company a “neutral” rating in a research note on Monday, September 12th. Wedbush lifted their price target on shares of AutoZone from $2,250.00 to $2,350.00 and gave the stock an “outperform” rating in a research note on Tuesday. Finally, Citigroup upped their price objective on shares of AutoZone from $2,250.00 to $2,520.00 and gave the company a “buy” rating in a research report on Tuesday. One research analyst has rated the stock with a sell rating, three have given a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $2,234.41.
Insiders Place Their Bets
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently bought and sold shares of the company. Fairfield Bush & CO. acquired a new position in shares of AutoZone during the first quarter worth approximately $57,000. Zions Bancorporation N.A. grew its stake in shares of AutoZone by 76.2% in the first quarter. Zions Bancorporation N.A. now owns 37 shares of the company’s stock worth $76,000 after purchasing an additional 16 shares in the last quarter. SVB Wealth LLC acquired a new position in shares of AutoZone during the second quarter valued at $207,000. Penserra Capital Management LLC grew its position in AutoZone by 7.4% in the 1st quarter. Penserra Capital Management LLC now owns 102 shares of the company’s stock valued at $208,000 after buying an additional 7 shares in the last quarter. Finally, Echo Street Capital Management LLC increased its stake in AutoZone by 9.3% during the 1st quarter. Echo Street Capital Management LLC now owns 117 shares of the company’s stock valued at $239,000 after buying an additional 10 shares during the period. Institutional investors own 92.90% of the company’s stock.
AutoZone Company Profile
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.
- Get a free copy of the StockNews.com research report on AutoZone (AZO)
- 3 Airline Stocks Stuck in a Holding Pattern
- Roku Stock is Down but Not Out
- Is Ford Rolling To A Rebound After Its Q3 Warning
- If You’re Hungry for Value, Take a Bite on Ruth’s Hospitality Grp
- Has AMD stock stock fallen too far?
Receive News & Ratings for AutoZone Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AutoZone and related companies with MarketBeat.com's FREE daily email newsletter.