AutoZone (NYSE:AZO) Issues Quarterly Earnings Results

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

AutoZone Stock Up 1.2 %

AutoZone stock traded up $37.65 during trading hours on Thursday, hitting $3,146.62. 27,239 shares of the company traded hands, compared to its average volume of 141,910. The firm has a market cap of $53.74 billion, a P/E ratio of 21.49, a P/E/G ratio of 1.43 and a beta of 0.71. The firm’s 50-day simple moving average is $3,111.58 and its two-hundred day simple moving average is $3,010.06. AutoZone has a 1-year low of $2,375.35 and a 1-year high of $3,256.37.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. UBS Group raised their price objective on shares of AutoZone from $3,340.00 to $3,500.00 and gave the stock a “buy” rating in a report on Wednesday. Mizuho raised their price target on shares of AutoZone from $3,280.00 to $3,350.00 and gave the stock an “outperform” rating in a research report on Wednesday. Guggenheim raised their price target on shares of AutoZone from $3,225.00 to $3,350.00 and gave the stock a “buy” rating in a research report on Wednesday. Citigroup reduced their price target on shares of AutoZone from $3,787.00 to $3,500.00 and set a “buy” rating on the stock in a research report on Wednesday. Finally, StockNews.com downgraded shares of AutoZone from a “buy” rating to a “hold” rating in a research report on Saturday, September 21st. Three analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $3,169.38.

AutoZone Company Profile

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.