AutoZone (NYSE:AZO) Releases Quarterly Earnings Results, Misses Estimates By $1.17 EPS

AutoZone (NYSE:AZO) announced its quarterly earnings data on Tuesday. The company reported $32.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $33.69 by ($1.17), RTT News reports. AutoZone had a negative return on equity of 52.99% and a net margin of 14.40%.

AutoZone Stock Up 0.5 %

Shares of AZO opened at $3,326.95 on Tuesday. The stock’s 50-day moving average price is $3,134.07 and its 200 day moving average price is $3,053.20. AutoZone has a 12-month low of $2,510.00 and a 12-month high of $3,345.27. The firm has a market capitalization of $56.24 billion, a price-to-earnings ratio of 22.22, a P/E/G ratio of 1.70 and a beta of 0.71.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Guggenheim reaffirmed a “buy” rating on shares of AutoZone in a research note on Wednesday, December 4th. Truist Financial raised their price objective on shares of AutoZone from $3,341.00 to $3,501.00 and gave the company a “buy” rating in a research report on Monday, October 14th. UBS Group boosted their target price on shares of AutoZone from $3,340.00 to $3,500.00 and gave the stock a “buy” rating in a research report on Wednesday, September 25th. Roth Capital upgraded shares of AutoZone to a “strong-buy” rating in a report on Tuesday, October 15th. Finally, BNP Paribas upgraded shares of AutoZone to a “strong-buy” rating in a report on Wednesday, September 25th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, fourteen have given a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat.com, AutoZone currently has an average rating of “Moderate Buy” and a consensus target price of $3,232.88.

Insider Transactions at AutoZone

In related news, VP John Scott Murphy sold 1,580 shares of the firm’s stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $3,107.69, for a total transaction of $4,910,150.20. Following the completion of the transaction, the vice president now owns 1,218 shares in the company, valued at $3,785,166.42. This trade represents a 56.47 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman William C. Rhodes III sold 300 shares of the company’s stock in a transaction on Thursday, October 3rd. The shares were sold at an average price of $3,075.20, for a total value of $922,560.00. Following the completion of the sale, the chairman now owns 13,857 shares in the company, valued at $42,613,046.40. This trade represents a 2.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 14,880 shares of company stock valued at $46,225,660. 2.10% of the stock is owned by corporate insiders.

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.