AutoZone (NYSE:AZO) Announces Earnings Results

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

AutoZone Stock Performance

Shares of NYSE AZO opened at $3,401.96 on Tuesday. AutoZone has a fifty-two week low of $3,210.72 and a fifty-two week high of $4,388.11. The firm has a market capitalization 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. The stock’s 50-day simple moving average is $3,457.35 and its 200-day simple moving average is $3,583.61.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. UBS Group set a $4,800.00 price target on AutoZone in a research report on Tuesday, March 3rd. JPMorgan Chase & Co. increased their target price on AutoZone from $4,100.00 to $4,300.00 and gave the company an “overweight” rating in a report on Thursday, February 26th. Robert W. Baird lowered AutoZone from an “outperform” rating to a “neutral” rating and set a $3,900.00 target price on the stock. in a report on Monday, February 9th. Evercore lifted their price target on AutoZone from $4,100.00 to $4,125.00 and gave the stock an “outperform” rating in a report on Friday, February 27th. Finally, The Goldman Sachs Group lifted their price target on AutoZone from $4,274.00 to $4,345.00 and gave the stock a “buy” rating in a report on Wednesday, March 4th. One research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $4,290.91.

Insider Buying and Selling at AutoZone

In other news, Director Earl G. Graves, Jr. sold 50 shares of the firm’s stock in a transaction dated Friday, April 10th. The stock was sold at an average price of $3,478.72, for a total transaction of $173,936.00. Following the sale, the director owned 4,837 shares of the company’s stock, valued at approximately $16,826,568.64. This trade represents a 1.02% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On AutoZone

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AZO. Morgan Stanley increased its holdings in shares of AutoZone by 17.8% in the 4th quarter. Morgan Stanley now owns 492,794 shares of the company’s stock valued at $1,671,323,000 after acquiring an additional 74,555 shares during the period. Price T Rowe Associates Inc. MD raised its position in AutoZone by 1.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 387,042 shares of the company’s stock valued at $1,312,654,000 after purchasing an additional 7,390 shares during the last quarter. Northern Trust Corp raised its position in AutoZone by 1.2% in the 3rd quarter. Northern Trust Corp now owns 189,789 shares of the company’s stock valued at $814,240,000 after purchasing an additional 2,333 shares during the last quarter. Nuveen LLC raised its position in AutoZone by 2.7% in the 4th quarter. Nuveen LLC now owns 160,344 shares of the company’s stock valued at $543,807,000 after purchasing an additional 4,154 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in AutoZone by 1.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 117,338 shares of the company’s stock valued at $397,952,000 after purchasing an additional 1,273 shares during the period. Hedge funds and other institutional investors own 92.74% of the company’s stock.

About AutoZone

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.