AutoZone (NYSE:AZO) Issues Quarterly Earnings Results

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

AutoZone Trading Up 2.1 %

AZO opened at $3,108.97 on Thursday. AutoZone has a 1-year low of $2,375.35 and a 1-year high of $3,256.37. The company has a market cap of $53.10 billion, a price-to-earnings ratio of 21.50, a PEG ratio of 1.43 and a beta of 0.71. The company’s fifty day moving average price is $3,109.08 and its two-hundred day moving average price is $3,009.36.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on AZO shares. UBS Group lifted 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 note on Wednesday. Morgan Stanley lifted their price objective on AutoZone from $3,038.00 to $3,125.00 and gave the stock an “overweight” rating in a research report on Wednesday. Evercore ISI cut their target price 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. Citigroup lowered their target price on AutoZone from $3,787.00 to $3,500.00 and set a “buy” rating for the company in a report on Wednesday. Finally, StockNews.com cut AutoZone from a “buy” rating to a “hold” rating in a report on Saturday, September 21st. Three investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $3,169.38.

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.