AutoZone (NYSE:AZO – Get Rating) is scheduled to issue its quarterly earnings data before the market opens on Tuesday, December 6th. Analysts expect the company to announce earnings of $24.82 per share for the quarter. Parties that are interested in participating in the company’s conference call can do so using this link.
AutoZone (NYSE:AZO – Get Rating) last announced its earnings results on Monday, September 19th. The company reported $40.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $38.38 by $2.13. The business had revenue of $5.35 billion during the quarter, compared to analyst estimates of $5.16 billion. AutoZone had a negative return on equity of 79.74% and a net margin of 14.95%. AutoZone’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same period last year, the company earned $35.72 EPS. On average, analysts expect AutoZone to post $125 EPS for the current fiscal year and $140 EPS for the next fiscal year.
AutoZone Stock Down 0.6 %
Shares of NYSE:AZO opened at $2,545.98 on Tuesday. The firm has a market cap of $48.33 billion, a P/E ratio of 21.66, a P/E/G ratio of 1.54 and a beta of 0.78. AutoZone has a 12-month low of $1,703.32 and a 12-month high of $2,575.28. The business has a fifty day simple moving average of $2,347.84 and a 200 day simple moving average of $2,204.95.
Insider Buying and Selling
In related news, CEO William C. Rhodes III sold 14,528 shares of AutoZone stock in a transaction that occurred on Tuesday, October 11th. The shares were sold at an average price of $2,271.56, for a total value of $33,001,223.68. Following the sale, the chief executive officer now owns 15,976 shares of the company’s stock, valued at approximately $36,290,442.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other AutoZone news, CEO William C. Rhodes III sold 14,528 shares of the business’s stock in a transaction on Tuesday, October 11th. The shares were sold at an average price of $2,271.56, for a total transaction of $33,001,223.68. Following the sale, the chief executive officer now owns 15,976 shares of the company’s stock, valued at approximately $36,290,442.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Albert Saltiel sold 1,500 shares of the business’s stock in a transaction on Thursday, October 27th. The shares were sold at an average price of $2,450.00, for a total transaction of $3,675,000.00. Following the sale, the vice president now directly owns 528 shares in the company, valued at approximately $1,293,600. The disclosure for this sale can be found here. In the last quarter, insiders have sold 35,709 shares of company stock valued at $80,143,400. 2.59% of the stock is owned by company insiders.
Institutional Inflows and Outflows
Several institutional investors have recently made changes to their positions in the company. Advisors Capital Management LLC increased its holdings in shares of AutoZone by 30.7% in the third quarter. Advisors Capital Management LLC now owns 132 shares of the company’s stock worth $323,000 after purchasing an additional 31 shares during the period. Kayne Anderson Rudnick Investment Management LLC increased its holdings in shares of AutoZone by 1.2% in the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 7,853 shares of the company’s stock worth $16,820,000 after purchasing an additional 91 shares during the period. Kingsview Wealth Management LLC bought a new position in shares of AutoZone in the third quarter worth $250,000. Neuberger Berman Group LLC increased its holdings in shares of AutoZone by 14.8% in the third quarter. Neuberger Berman Group LLC now owns 5,812 shares of the company’s stock worth $12,451,000 after purchasing an additional 749 shares during the period. Finally, Algert Global LLC increased its holdings in shares of AutoZone by 34.5% in the third quarter. Algert Global LLC now owns 452 shares of the company’s stock worth $968,000 after purchasing an additional 116 shares during the period. Institutional investors own 92.90% of the company’s stock.
Wall Street Analyst Weigh In
Several research analysts have recently weighed in on the company. StockNews.com assumed coverage on AutoZone in a research report on Wednesday, October 12th. They issued a “buy” rating for the company. The Goldman Sachs Group reissued a “buy” rating and issued a $2,334.00 price objective on shares of AutoZone in a research report on Wednesday, September 21st. UBS Group lifted their price objective on AutoZone from $2,100.00 to $2,260.00 and gave the stock a “neutral” rating in a research report on Monday, September 12th. Argus boosted their target price on AutoZone from $2,210.00 to $2,330.00 and gave the company a “buy” rating in a research report on Tuesday, September 27th. Finally, JPMorgan Chase & Co. boosted their target price on AutoZone from $2,550.00 to $2,660.00 and gave the company an “overweight” rating in a research report on Tuesday, September 20th. Three equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $2,423.80.
About AutoZone
AutoZone, Inc retails and distributes automotive replacement parts and accessories. The company offers 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. Its products include A/C compressors, batteries and accessories, bearings, belts and hoses, calipers, chassis, clutches, CV axles, engines, fuel pumps, fuses, ignition and lighting products, mufflers, radiators, starters and alternators, thermostats, and water pumps, as well as tire repairs.