AutoZone (NYSE:AZO) Issues Earnings Results, Beats Expectations By $2.20 EPS

AutoZone (NYSE:AZOGet Rating) posted its quarterly earnings data on Monday. The company reported $40.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $38.31 by $2.20, MarketWatch Earnings reports. AutoZone had a net margin of 15.21% and a negative return on equity of 92.10%. The business had revenue of $5.35 billion during the quarter, compared to the consensus estimate of $5.16 billion. During the same quarter last year, the company posted $35.72 earnings per share. The firm’s quarterly revenue was up 8.9% compared to the same quarter last year.

AutoZone Trading Up 1.6 %

Shares of NYSE AZO opened at $2,131.47 on Wednesday. The business has a 50-day moving average of $2,189.77 and a 200-day moving average of $2,094.34. The firm has a market capitalization of $41.54 billion, a price-to-earnings ratio of 18.91, a PEG ratio of 1.54 and a beta of 0.78. AutoZone has a 12 month low of $1,605.97 and a 12 month high of $2,362.24.

Insider Activity at AutoZone

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

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Sequoia Financial Advisors LLC grew its holdings in shares of AutoZone by 21.6% during the 1st quarter. Sequoia Financial Advisors LLC now owns 208 shares of the company’s stock valued at $425,000 after purchasing an additional 37 shares during the last quarter. Beacon Pointe Advisors LLC increased its holdings in shares of AutoZone by 59.7% in the first quarter. Beacon Pointe Advisors LLC now owns 190 shares of the company’s stock worth $388,000 after buying an additional 71 shares during the period. Fund Management at Engine No. 1 LLC purchased a new stake in AutoZone during the 1st quarter valued at about $358,000. Lido Advisors LLC grew its position in AutoZone by 22.8% during the 1st quarter. Lido Advisors LLC now owns 156 shares of the company’s stock worth $318,000 after acquiring an additional 29 shares during the last quarter. Finally, Laurel Wealth Advisors Inc. increased its stake in AutoZone by 11.6% in the 1st quarter. Laurel Wealth Advisors Inc. now owns 135 shares of the company’s stock worth $276,000 after purchasing an additional 14 shares during the period. 92.90% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on AZO shares. The Goldman Sachs Group upgraded shares of AutoZone from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $1,969.00 to $2,296.00 in a report on Monday, June 27th. Stephens raised their price objective on shares of AutoZone to $2,400.00 in a report on Tuesday. Wells Fargo & Company lifted their target price on shares of AutoZone from $2,350.00 to $2,450.00 and gave the stock an “overweight” rating in a research note on Friday, September 9th. Truist Financial reduced their target price on shares of AutoZone from $2,215.00 to $2,174.00 and set a “buy” rating for the company in a research note on Wednesday, May 25th. Finally, Wedbush lifted their target price 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. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat, AutoZone presently has a consensus rating of “Moderate Buy” and a consensus price target of $2,234.41.

About AutoZone

(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.

Featured Articles

Earnings History for AutoZone (NYSE:AZO)

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.