AutoZone stock price target raised to $1,250 from $1,150 at CFRA

1 BUSINESS

Business News - Opportunities - Reviews

 

 

AutoZone shares climb premarket as earnings top estimates

AutoZone Inc. shares rose 1.1% in premarket trade Tuesday, after the car parts retailer topped earnings estimates for its fiscal third quarter. Memphis, Tenn.-based AutoZone said it had net income of $405.9 million, or $15.99 a share, in the quarter to May 4, up from $366.7 million, or $13.42 a share, in the year-earlier period. Sales rose to $2.8 billion from $2.7 billion, while same-store sales rose 3.9%. The FactSet consensus was for EPS of $15.10, sales of $2.8 billion and same-store sales growth of 3%. “Our industry fundamentals remain strong and the industry data available to us shows we are improving our market share position,” Chief Executive Bill Rhodes said in a statement. “And, we continue to be excited about the initiatives we have underway to further enhance our inventory availability, to continue to accelerate our Commercial business and to meet our customers how, when and where they want to be met with our omni-channel efforts.” Shares have gained 47% in the last 12 months, while the S&P 500 has gained 3.9%.

1 BUSINESS

Business News - Opportunities - Reviews

 

 

Leave a Reply