AutoZone (NYSE:AZO) Issues Quarterly Earnings Results

AutoZone (NYSE:AZO) posted its quarterly earnings data on Tuesday. The company reported $48.11 EPS for the quarter, missing analysts’ consensus estimates of $53.31 by ($5.20), Briefing.com reports. AutoZone had a net margin of 14.60% and a negative return on equity of 54.58%. The business had revenue of $6.21 billion during the quarter, compared to analyst estimates of $6.25 billion. During the same quarter in the prior year, the firm posted $46.46 earnings per share. The company’s revenue for the quarter was up 9.0% compared to the same quarter last year.

AutoZone Stock Performance

NYSE AZO traded up $80.12 during trading hours on Thursday, hitting $3,189.09. The company had a trading volume of 125,311 shares, compared to its average volume of 142,437. AutoZone has a 52 week low of $2,375.35 and a 52 week high of $3,256.37. The firm has a market capitalization of $54.47 billion, a price-to-earnings ratio of 21.49, a PEG ratio of 1.43 and a beta of 0.71. The firm has a 50 day simple moving average of $3,111.58 and a 200 day simple moving average of $3,010.06.

Wall Street Analysts Forecast Growth

AZO has been the subject of several recent research reports. Mizuho raised their target price on shares of AutoZone from $3,280.00 to $3,350.00 and gave the company an “outperform” rating in a report on Wednesday. Oppenheimer reaffirmed a “market perform” rating and issued a $2,600.00 target price on shares of AutoZone in a research report on Wednesday, June 26th. UBS Group lifted their price objective on AutoZone from $3,340.00 to $3,500.00 and gave the stock a “buy” rating in a report on Wednesday. Morgan Stanley lifted their price objective on shares of AutoZone from $3,038.00 to $3,125.00 and gave the stock an “overweight” rating in a report on Wednesday. Finally, Evercore ISI lowered their price target on shares of AutoZone from $3,900.00 to $3,350.00 and set an “outperform” rating for the company in a research report on Friday, September 20th. Three analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $3,169.38.

About AutoZone

AutoZone, Inc retails and distributes automotive replacement parts and accessories in the United States, Mexico, and Brazil. The company provides 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.