AutoZone (NYSE:AZO) Releases Earnings Results, Misses Estimates By $0.82 EPS

AutoZone (NYSE:AZO) posted its quarterly earnings results on Tuesday. The company reported $28.29 earnings per share for the quarter, missing the consensus estimate of $29.11 by ($0.82), Zacks reports. AutoZone had a negative return on equity of 53.89% and a net margin of 14.18%.

AutoZone Stock Performance

AutoZone stock opened at $3,471.00 on Tuesday. The company has a market cap of $58.25 billion, a P/E ratio of 23.19, a PEG ratio of 1.86 and a beta of 0.70. AutoZone has a 1 year low of $2,728.97 and a 1 year high of $3,519.00. The firm’s 50-day moving average is $3,341.31 and its 200-day moving average is $3,219.44.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on AZO shares. Truist Financial upped their price target on AutoZone from $3,501.00 to $3,753.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. Guggenheim lifted their price objective on AutoZone from $3,350.00 to $3,750.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. Evercore ISI increased their price objective on shares of AutoZone from $3,400.00 to $3,450.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 11th. Wells Fargo & Company boosted their price objective on AutoZone from $3,450.00 to $3,750.00 and gave the company an “overweight” rating in a research note on Wednesday, December 11th. Finally, Argus raised their price target on AutoZone from $3,560.00 to $3,678.00 and gave the company a “buy” rating in a report on Thursday, January 2nd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, fifteen have issued a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $3,442.61.

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.