AutoZone (NYSE:AZO) Posts Quarterly Earnings Results, Beats Estimates By $2.20 EPS

AutoZone (NYSE:AZOGet 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

In other news, VP Domingo Hurtado sold 395 shares of AutoZone stock in a transaction dated Friday, July 15th. The shares were sold at an average price of $2,217.53, for a total value of $875,924.35. Following the completion of the transaction, the vice president now directly owns 362 shares of the company’s stock, valued at approximately $802,745.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, VP Domingo Hurtado sold 395 shares of the business’s stock in a transaction that occurred on Friday, July 15th. The stock was sold at an average price of $2,217.53, for a total transaction of $875,924.35. Following the completion of the transaction, the vice president now owns 362 shares in the company, valued at approximately $802,745.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO William C. Rhodes III sold 2,958 shares of the firm’s stock in a transaction on Monday, July 18th. The shares were sold at an average price of $2,206.33, for a total value of $6,526,324.14. Following the completion of the sale, the chief executive officer now owns 15,935 shares in the company, valued at $35,157,868.55. The disclosure for this sale can be found here. 2.60% of the stock is owned by corporate insiders.

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

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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.

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Earnings History for AutoZone (NYSE:AZO)

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