AutoZone (NYSE:AZO) Issues Earnings Results

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

AutoZone Stock Up 1.3%

NYSE:AZO traded up $46.58 during mid-day trading on Friday, reaching $3,736.21. The company's stock had a trading volume of 190,971 shares, compared to its average volume of 129,947. AutoZone has a 1 year low of $2,728.97 and a 1 year high of $3,916.81. The stock has a fifty day moving average of $3,698.83 and a 200-day moving average of $3,466.57. The firm has a market capitalization 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.

Insider Buying and Selling

In other AutoZone news, VP Domingo Hurtado sold 4,800 shares of the business's stock in a transaction dated Tuesday, April 22nd. The shares were sold at an average price of $3,660.00, for a total value of $17,568,000.00. Following the completion of the transaction, the vice president now directly owns 159 shares in the company, valued at approximately $581,940. The trade was a 96.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Dennis W. Leriche sold 1,575 shares of the business'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 transaction of $5,670,000.00. Following the sale, the vice president now directly owns 417 shares in the company, valued at approximately $1,501,200. This represents a 79.07% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 11,521 shares of company stock valued at $42,177,331 over the last three months. 2.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

An institutional investor recently raised its position in AutoZone stock. Brighton Jones LLC grew its holdings in AutoZone, Inc. (NYSE:AZO - Free Report) by 14.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 111 shares of the company's stock after acquiring an additional 14 shares during the period. Brighton Jones LLC's holdings in AutoZone were worth $356,000 at the end of the most recent quarter. 92.74% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. The Goldman Sachs Group set a $3,811.00 price target on shares of AutoZone in a research report on Friday, May 23rd. Wall Street Zen upgraded shares of AutoZone from a "hold" rating to a "buy" rating in a research report on Wednesday, May 14th. Wells Fargo & Company set a $4,200.00 price objective on shares of AutoZone and gave the company an "overweight" rating in a research report on Monday, May 19th. Argus cut shares of AutoZone from a "buy" rating to a "hold" rating in a research report on Wednesday, March 5th. Finally, Oppenheimer upgraded shares of AutoZone from a "market perform" rating to an "outperform" rating and set a $4,600.00 price objective on the stock in a research report on Friday, May 2nd. Two research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and four have given a strong buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Buy" and an average price target of $4,054.52.

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.