AutoZone (NYSE:AZO) Issues Quarterly Earnings Results

AutoZone (NYSE:AZO) issued its earnings results on Tuesday. The company reported $38.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $36.22 by $1.85, FiscalAI reports. The company had revenue of $4.84 billion during the quarter, compared to analysts’ expectations of $4.86 billion. AutoZone had a negative return on equity of 72.31% and a net margin of 12.47%.

AutoZone Stock Down 0.1%

Shares of AutoZone stock opened at $3,401.96 on Tuesday. AutoZone has a 52 week low of $3,210.72 and a 52 week high of $4,388.11. The business’s fifty day simple moving average is $3,457.35 and its 200-day simple moving average is $3,583.61. The firm has a market cap 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.

Insider Activity at AutoZone

In other news, Director Earl G. Graves, Jr. sold 50 shares of the company’s stock in a transaction on Friday, April 10th. The stock was sold at an average price of $3,478.72, for a total value of $173,936.00. Following the transaction, the director owned 4,837 shares of the company’s stock, valued at $16,826,568.64. This represents a 1.02% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On AutoZone

Several hedge funds have recently bought and sold shares of AZO. Brighton Jones LLC lifted its stake in AutoZone by 14.4% during the 4th quarter. Brighton Jones LLC now owns 111 shares of the company’s stock worth $356,000 after acquiring an additional 14 shares in the last quarter. Sivia Capital Partners LLC acquired a new position in AutoZone during the 2nd quarter worth about $356,000. Guggenheim Capital LLC raised its position in AutoZone by 3.8% in the 2nd quarter. Guggenheim Capital LLC now owns 248 shares of the company’s stock valued at $921,000 after purchasing an additional 9 shares in the last quarter. NewEdge Advisors LLC raised its position in AutoZone by 8.9% in the 2nd quarter. NewEdge Advisors LLC now owns 1,376 shares of the company’s stock valued at $5,110,000 after purchasing an additional 112 shares in the last quarter. Finally, Treasurer of the State of North Carolina raised its position in AutoZone by 52.3% in the 2nd quarter. Treasurer of the State of North Carolina now owns 11,763 shares of the company’s stock valued at $43,667,000 after purchasing an additional 4,039 shares in the last quarter. Institutional investors and hedge funds own 92.74% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. BMO Capital Markets dropped their target price on AutoZone from $4,400.00 to $4,300.00 and set an “outperform” rating for the company in a report on Wednesday, March 4th. UBS Group set a $4,800.00 target price on AutoZone in a report on Tuesday, March 3rd. Barclays upped their target price on AutoZone from $3,800.00 to $3,900.00 and gave the company an “overweight” rating in a report on Wednesday, March 4th. Oppenheimer reaffirmed an “outperform” rating and issued a $4,300.00 price target (up from $4,150.00) on shares of AutoZone in a research note on Tuesday, March 10th. Finally, TD Cowen decreased their price target on AutoZone from $4,400.00 to $4,250.00 and set a “buy” rating on the stock in a research note on Monday, March 16th. One investment analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $4,290.91.

AutoZone Company Profile

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.