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.
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.
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