AutoZone (NYSE:AZO) Issues Quarterly Earnings Results

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

AutoZone Stock Performance

Shares of AZO traded up $36.03 during trading hours on Thursday, hitting $3,145.00. The stock had a trading volume of 22,002 shares, compared to its average volume of 141,865. AutoZone has a 12-month low of $2,375.35 and a 12-month high of $3,256.37. The firm has a market cap of $53.72 billion, a P/E ratio of 21.49, a P/E/G ratio of 1.43 and a beta of 0.71. The company’s fifty day simple moving average is $3,111.58 and its 200 day simple moving average is $3,010.06.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on AZO. Wedbush restated an “outperform” rating and set a $3,200.00 price target on shares of AutoZone in a research note on Thursday, September 19th. Mizuho boosted their price target on shares of AutoZone from $3,280.00 to $3,350.00 and gave the stock an “outperform” rating in a research report on Wednesday. Guggenheim lifted their target price on shares of AutoZone from $3,225.00 to $3,350.00 and gave the company a “buy” rating in a report on Wednesday. UBS Group increased their target price on AutoZone from $3,340.00 to $3,500.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, Truist Financial dropped their target price on AutoZone from $3,394.00 to $3,341.00 and set a “buy” rating for the company in a research report on Wednesday. Three analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target 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.