AutoZone (NYSE:AZO) Issues Earnings Results

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

AutoZone Price Performance

Shares of NYSE AZO traded up $36.03 during trading on Thursday, reaching $3,145.00. 22,002 shares of the stock traded hands, compared to its average volume of 141,865. AutoZone has a 52-week low of $2,375.35 and a 52-week high of $3,256.37. The company has a 50-day moving average of $3,111.58 and a 200-day moving average of $3,010.06. The stock has a market capitalization of $53.72 billion, a P/E ratio of 21.49, a price-to-earnings-growth ratio of 1.43 and a beta of 0.71.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. UBS Group boosted their price objective on shares of AutoZone from $3,340.00 to $3,500.00 and gave the company a “buy” rating in a research note on Wednesday. Citigroup decreased their price objective on shares of AutoZone from $3,787.00 to $3,500.00 and set a “buy” rating for the company in a research report on Wednesday. Oppenheimer reaffirmed a “market perform” rating and set a $2,600.00 target price on shares of AutoZone in a research report on Wednesday, June 26th. Truist Financial lowered their price objective on AutoZone from $3,394.00 to $3,341.00 and set a “buy” rating for the company in a research note on Wednesday. Finally, Guggenheim boosted their price objective on AutoZone from $3,225.00 to $3,350.00 and gave the company a “buy” rating in a report on Wednesday. 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 stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus 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.