AutoZone (NYSE:AZO) Announces Earnings Results

AutoZone (NYSE:AZO) issued its earnings results on Tuesday. The company reported $48.11 earnings per share (EPS) for the quarter, missing the consensus estimate 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 firm had revenue of $6.21 billion during the quarter, compared to analysts’ expectations of $6.25 billion. During the same period last year, the firm posted $46.46 earnings per share. The firm’s quarterly revenue was up 9.0% on a year-over-year basis.

AutoZone Trading Down 0.1 %

Shares of NYSE:AZO opened at $3,046.64 on Wednesday. The stock has a 50 day moving average of $3,109.08 and a 200 day moving average of $3,009.36. The company has a market cap of $52.04 billion, a PE ratio of 21.07, a price-to-earnings-growth ratio of 1.43 and a beta of 0.71. AutoZone has a 12-month low of $2,375.35 and a 12-month high of $3,256.37.

Analysts Set New Price Targets

Several research firms recently issued reports on AZO. Evercore ISI lowered their price objective on AutoZone from $3,900.00 to $3,350.00 and set an “outperform” rating on the stock in a research report on Friday, September 20th. Wedbush reaffirmed an “outperform” rating and set a $3,200.00 price objective on shares of AutoZone in a research report on Thursday, September 19th. Guggenheim lifted their price objective on AutoZone from $3,150.00 to $3,225.00 and gave the stock a “buy” rating in a report on Wednesday, June 26th. Oppenheimer restated a “market perform” rating and set a $2,600.00 target price on shares of AutoZone in a research note on Wednesday, June 26th. Finally, StockNews.com cut shares of AutoZone from a “buy” rating to a “hold” rating in a report on Saturday. Three analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $3,129.44.

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.