AutoZone (NYSE:AZO – Get 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
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.
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)
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