AutoZone (NYSE:AZO) Announces Quarterly Earnings Results

AutoZone (NYSE:AZO - Get Free Report) posted its earnings results on Tuesday. The company reported $32.52 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $33.69 by ($1.17), RTT News reports. AutoZone had a net margin of 14.40% and a negative return on equity of 52.99%. The business had revenue of $4.28 billion during the quarter, compared to analyst estimates of $4.30 billion. During the same period in the previous year, the firm posted $32.55 earnings per share. The firm's revenue was up 2.1% on a year-over-year basis.

AutoZone Price Performance

AZO traded up $23.15 on Tuesday, hitting $3,347.16. 230,005 shares of the stock were exchanged, compared to its average volume of 139,765. AutoZone has a 12 month low of $2,510.00 and a 12 month high of $3,416.71. The firm has a market capitalization of $56.58 billion, a price-to-earnings ratio of 22.36, a PEG ratio of 1.70 and a beta of 0.71. The business has a 50-day moving average of $3,134.07 and a two-hundred day moving average of $3,053.20.

Analysts Set New Price Targets

A number of research firms have issued reports on AZO. StockNews.com cut AutoZone from a "buy" rating to a "hold" rating in a research note on Saturday, September 21st. Morgan Stanley boosted their price target on AutoZone from $3,038.00 to $3,125.00 and gave the company an "overweight" rating in a report on Wednesday, September 25th. Citigroup cut their price target on AutoZone from $3,787.00 to $3,500.00 and set a "buy" rating on the stock in a report on Wednesday, September 25th. Redburn Atlantic upgraded AutoZone to a "strong-buy" rating in a report on Tuesday, October 1st. Finally, Roth Capital upgraded AutoZone to a "strong-buy" rating in a report on Tuesday, October 15th. One analyst has rated the stock with a sell rating, three have given a hold rating, fourteen have issued a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $3,232.88.

Insider Transactions at AutoZone

In related news, Chairman William C. Rhodes III sold 13,000 shares of the business's stock in a transaction on Thursday, October 10th. The shares were sold at an average price of $3,107.15, for a total value of $40,392,950.00. Following the sale, the chairman now owns 13,857 shares of the company's stock, valued at $43,055,777.55. The trade was a 48.40 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP John Scott Murphy sold 1,580 shares of the firm's stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $3,107.69, for a total value of $4,910,150.20. Following the transaction, the vice president now directly owns 1,218 shares of the company's stock, valued at approximately $3,785,166.42. This represents a 56.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 14,880 shares of company stock valued at $46,225,660. Company insiders own 2.10% 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.