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

AutoZone (NYSE:AZOGet Rating) posted its earnings results on Monday. The company reported $40.51 earnings per share for the quarter, beating 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 firm had revenue of $5.35 billion during the quarter, compared to analyst estimates of $5.16 billion. During the same period last year, the firm posted $35.72 earnings per share. AutoZone’s revenue for the quarter was up 8.9% compared to the same quarter last year.

AutoZone Stock Up 1.6 %

Shares of NYSE AZO opened at $2,131.47 on Wednesday. AutoZone has a twelve month low of $1,605.97 and a twelve month high of $2,362.24. The firm has a market cap of $41.54 billion, a PE ratio of 18.91, a price-to-earnings-growth ratio of 1.54 and a beta of 0.78. The business has a fifty day simple moving average of $2,189.77 and a two-hundred day simple moving average of $2,094.34.

Insider Transactions at AutoZone

In related news, CEO William C. Rhodes III sold 2,958 shares of the company’s stock in a transaction dated 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 directly owns 15,935 shares of the company’s stock, valued at $35,157,868.55. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, CEO William C. Rhodes III sold 2,958 shares of AutoZone stock in a transaction that occurred on Monday, July 18th. The shares were 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 of the company’s stock, valued at $35,157,868.55. The sale was disclosed in a filing with the SEC, which is accessible through this link. 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 transaction 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 disclosure for this sale can be found here. Corporate insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On AutoZone

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. RB Capital Management LLC bought a new position in shares of AutoZone during the 1st quarter worth approximately $274,000. Fairfield Bush & CO. bought a new position in shares of AutoZone during the 1st quarter worth approximately $57,000. Roundview Capital LLC raised its stake in shares of AutoZone by 8.1% during the 1st quarter. Roundview Capital LLC now owns 426 shares of the company’s stock worth $871,000 after acquiring an additional 32 shares in the last quarter. Cetera Advisor Networks LLC raised its stake in shares of AutoZone by 31.7% during the 1st quarter. Cetera Advisor Networks LLC now owns 237 shares of the company’s stock worth $485,000 after acquiring an additional 57 shares in the last quarter. Finally, Sei Investments Co. raised its stake in shares of AutoZone by 24.4% during the 1st quarter. Sei Investments Co. now owns 12,966 shares of the company’s stock worth $26,331,000 after acquiring an additional 2,545 shares in the last quarter. Hedge funds and other institutional investors own 92.90% of the company’s stock.

Wall Street Analyst Weigh In

AZO has been the topic of several recent research reports. Citigroup upped their target price 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. Morgan Stanley raised AutoZone from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $2,125.00 to $2,420.00 in a research note on Thursday, June 16th. JPMorgan Chase & Co. boosted their target price on AutoZone from $2,550.00 to $2,660.00 and gave the company an “overweight” rating in a research report on Tuesday. UBS Group raised their price target on AutoZone from $2,100.00 to $2,260.00 and gave the stock a “neutral” rating in a research report on Monday, September 12th. Finally, The Goldman Sachs Group upgraded shares of AutoZone from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $1,969.00 to $2,296.00 in a research report on Monday, June 27th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $2,234.41.

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.

See Also

Earnings History for AutoZone (NYSE:AZO)

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