AutoZone (NYSE:AZO) Announces Quarterly Earnings Results

AutoZone (NYSE:AZO - Get Free Report) announced its earnings results on Tuesday. The company reported $35.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $37.07 by ($1.71), RTT News reports. AutoZone had a net margin of 14.18% and a negative return on equity of 53.89%. The business had revenue of $4.46 billion for the quarter, compared to the consensus estimate of $4.41 billion. During the same quarter last year, the firm posted $36.69 earnings per share. The business's quarterly revenue was up 5.4% compared to the same quarter last year.

AutoZone Stock Performance

Shares of AZO traded up $46.58 during mid-day trading on Friday, hitting $3,736.21. 190,971 shares of the stock were exchanged, compared to its average volume of 129,877. The company has a market cap of $62.70 billion, a PE ratio of 24.96, a price-to-earnings-growth ratio of 1.86 and a beta of 0.44. AutoZone has a 52-week low of $2,728.97 and a 52-week high of $3,916.81. The firm has a 50-day moving average of $3,697.62 and a two-hundred day moving average of $3,462.70.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on AZO shares. Evercore ISI set a $3,950.00 price objective on shares of AutoZone in a research report on Monday, May 19th. Argus downgraded AutoZone from a "buy" rating to a "hold" rating in a research report on Wednesday, March 5th. The Goldman Sachs Group set a $3,811.00 price target on AutoZone in a report on Friday, May 23rd. Oppenheimer raised AutoZone from a "market perform" rating to an "outperform" rating and set a $4,600.00 price objective on the stock in a research note on Friday, May 2nd. Finally, Guggenheim lifted their price objective on AutoZone from $3,850.00 to $4,100.00 and gave the company a "buy" rating in a research report on Wednesday. Two research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat, AutoZone currently has an average rating of "Buy" and a consensus price target of $4,054.52.

Insider Buying and Selling at AutoZone

In other news, VP Dennis W. Leriche sold 1,575 shares of the firm's stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $3,600.00, for a total value of $5,670,000.00. Following the completion of the sale, the vice president now directly owns 417 shares of the company's stock, valued at $1,501,200. This trade represents a 79.07% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Bailey L. Childress sold 160 shares of AutoZone stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $3,550.00, for a total value of $568,000.00. Following the completion of the transaction, the senior vice president now owns 50 shares of the company's stock, valued at approximately $177,500. This trade represents a 76.19% decrease in their position. The disclosure for this sale can be found here. Insiders sold 11,521 shares of company stock worth $42,177,331 over the last 90 days. 2.10% of the stock is owned by insiders.

Institutional Investors Weigh In On AutoZone

A hedge fund recently raised its stake in AutoZone stock. Brighton Jones LLC boosted its position in AutoZone, Inc. (NYSE:AZO - Free Report) by 14.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (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 Securities and Exchange Commission (SEC). Institutional investors own 92.74% of the company's stock.

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.