AutoZone (NYSE:AZO) Releases Earnings Results, Misses Estimates By $0.82 EPS

AutoZone (NYSE:AZO) posted its quarterly earnings data on Tuesday. The company reported $28.29 EPS for the quarter, missing analysts’ consensus estimates of $29.11 by ($0.82), Zacks reports. AutoZone had a negative return on equity of 53.89% and a net margin of 14.18%. The business had revenue of $3.95 billion during the quarter, compared to analyst estimates of $3.98 billion.

AutoZone Stock Up 2.8 %

Shares of AZO stock opened at $3,569.49 on Thursday. The firm has a fifty day moving average of $3,351.07 and a 200-day moving average of $3,223.79. The company has a market capitalization of $59.90 billion, a price-to-earnings ratio of 23.85, a P/E/G ratio of 1.86 and a beta of 0.71. AutoZone has a 12-month low of $2,728.97 and a 12-month high of $3,570.50.

Analysts Set New Price Targets

AZO has been the topic of several research reports. Truist Financial upped their price target on shares of AutoZone from $3,753.00 to $3,841.00 and gave the stock a “buy” rating in a research report on Wednesday. Barclays upped their target price on shares of AutoZone from $3,024.00 to $3,585.00 and gave the stock an “overweight” rating in a research report on Thursday, January 9th. UBS Group boosted their price objective on shares of AutoZone from $3,875.00 to $4,025.00 and gave the stock a “buy” rating in a research report on Wednesday. Guggenheim increased their price objective on AutoZone from $3,750.00 to $3,850.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, BMO Capital Markets boosted their target price on AutoZone from $3,700.00 to $3,850.00 and gave the stock an “outperform” rating in a research report on Wednesday. One research analyst has rated the stock with a sell rating, five have given a hold rating, fifteen have issued a buy rating and four have issued a strong buy rating to the company. According to MarketBeat, AutoZone currently has an average rating of “Moderate Buy” and a consensus price target of $3,646.62.

Institutional Trading of AutoZone

An institutional investor recently raised its position in AutoZone stock. Brighton Jones LLC boosted its stake in shares of AutoZone, Inc. (NYSE:AZO) by 14.4% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 111 shares of the company’s stock after purchasing an additional 14 shares during the period. Brighton Jones LLC’s holdings in AutoZone were worth $356,000 as of its most recent filing with the SEC. 92.74% of the stock is currently owned by institutional investors and hedge funds.

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.