AutoZone, Inc. (AZO) Releases Earnings Results, Beats Expectations By $0.07 EPS

AutoZone, Inc. (NYSE:AZO) released its earnings results on Tuesday. The company reported $15.18 EPS for the quarter, topping analysts’ consensus estimates of $15.11 by $0.07, RTT News reports. The business had revenue of $3.51 billion during the quarter, compared to analysts’ expectations of $3.49 billion. AutoZone had a net margin of 11.82% and a negative return on equity of 70.52%. The company’s quarterly revenue was up 3.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $14.30 earnings per share.

AutoZone (NYSE AZO) opened at 535.19 on Wednesday. AutoZone has a 12-month low of $491.13 and a 12-month high of $813.70. The firm has a market capitalization of $15.00 billion, a price-to-earnings ratio of 12.36 and a beta of 0.62. The firm has a 50-day moving average of $534.42 and a 200 day moving average of $611.55.

In other news, VP William T. Giles sold 10,000 shares of AutoZone stock in a transaction dated Tuesday, June 27th. The shares were sold at an average price of $581.10, for a total transaction of $5,811,000.00. Following the completion of the sale, the vice president now directly owns 18,500 shares in the company, valued at $10,750,350. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director William Andrew Mckenna purchased 300 shares of the stock in a transaction dated Thursday, July 13th. The shares were purchased at an average price of $507.00 per share, with a total value of $152,100.00. Following the completion of the acquisition, the director now owns 5,131 shares of the company’s stock, valued at $2,601,417. The disclosure for this purchase can be found here. Insiders own 2.60% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of AZO. American Beacon Advisors Inc. purchased a new stake in shares of AutoZone during the first quarter worth about $104,000. Fieldpoint Private Securities LLC acquired a new stake in shares of AutoZone in the second quarter worth approximately $114,000. Alpha Windward LLC boosted its position in shares of AutoZone by 3.2% in the second quarter. Alpha Windward LLC now owns 259 shares of the company’s stock worth $148,000 after acquiring an additional 8 shares during the last quarter. Salem Investment Counselors Inc. boosted its position in shares of AutoZone by 3.5% in the second quarter. Salem Investment Counselors Inc. now owns 264 shares of the company’s stock worth $151,000 after acquiring an additional 9 shares during the last quarter. Finally, Global X Management Co. LLC boosted its position in shares of AutoZone by 12.9% in the second quarter. Global X Management Co. LLC now owns 323 shares of the company’s stock worth $184,000 after acquiring an additional 37 shares during the last quarter. Institutional investors and hedge funds own 96.08% of the company’s stock.

A number of analysts have recently commented on the stock. Raymond James Financial, Inc. cut shares of AutoZone from a “strong-buy” rating to a “market perform” rating in a research note on Tuesday, May 23rd. Oppenheimer Holdings, Inc. set a $900.00 target price on shares of AutoZone and gave the stock a “buy” rating in a research note on Tuesday, May 23rd. Citigroup Inc. cut shares of AutoZone from a “strong-buy” rating to a “market perform” rating in a research note on Tuesday, May 23rd. ValuEngine cut shares of AutoZone from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Finally, Wedbush cut shares of AutoZone from an “outperform” rating to a “neutral” rating and cut their target price for the stock from $660.00 to $650.00 in a research note on Tuesday, May 30th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $776.64.

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About AutoZone

Autozone, Inc is a retailer and distributor of automotive replacement parts and accessories in the United States. The Company operates through the Auto Parts Locations segment. The Auto Parts Locations segment is a retailer and distributor of automotive parts and accessories. As of August 27, 2016, the Company operated through 5,814 locations in the United States, Puerto Rico, Mexico and Brazil.

Earnings History for AutoZone (NYSE:AZO)

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