AutoZone reported fiscal third quarter earnings that surpassed expectations.
The aftermarket automotive parts retailer’s earnings for the quarter ended May 4 came in at $15.99 a share, compared to $15.10 a share expected by analysts polled by FactSet. It was also higher than the year-ago quarter’s earnings of $13.42 a share.
Sales increased to $2.8 billion, from $2.7 billion in the comparable year-ago period.
Domestic same-store sales climbed +3.9%, compared to analysts estimate of +3%.
AutoZone CEO Bill Rhodes indicated that the industry fundamentals remain strong, and that the company is improving its market share position.
During its fiscal third quarter, the company repurchased 472,000 shares of its common stock for $466 million at an average price of $987 per share. As of the quarter-end, the company had $1.169 billion remaining under its existing share buyback program.
AZO broke above its upper Bollinger Band on September 26, 2024. This could be a sign that the stock is set to drop as the stock moves back below the upper band and toward the middle band. You may want to consider selling the stock or exploring put options. The A.I.dvisor looked at 50 similar instances where the stock broke above the upper band. In of the 50 cases the stock fell afterwards. This puts the odds of success at .
The Stochastic Oscillator has been in the overbought zone for 1 day. Expect a price pull-back in the near future.
The 10-day moving average for AZO crossed bearishly below the 50-day moving average on September 20, 2024. This indicates that the trend has shifted lower and could be considered a sell signal. In of 19 past instances when the 10-day crossed below the 50-day, the stock continued to move higher over the following month. The odds of a continued downward trend are .
Following a 3-day decline, the stock is projected to fall further. Considering past instances where AZO declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .
The Aroon Indicator for AZO entered a downward trend on October 03, 2024. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options.
The RSI Indicator points to a transition from a downward trend to an upward trend -- in cases where AZO's RSI Indicator exited the oversold zone, of 24 resulted in an increase in price. Tickeron's analysis proposes that the odds of a continued upward trend are .
The Momentum Indicator moved above the 0 level on October 16, 2024. You may want to consider a long position or call options on AZO as a result. In of 79 past instances where the momentum indicator moved above 0, the stock continued to climb. The odds of a continued upward trend are .
The Moving Average Convergence Divergence (MACD) for AZO just turned positive on October 09, 2024. Looking at past instances where AZO's MACD turned positive, the stock continued to rise in of 49 cases over the following month. The odds of a continued upward trend are .
AZO moved above its 50-day moving average on October 17, 2024 date and that indicates a change from a downward trend to an upward trend.
Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where AZO advanced for three days, in of 350 cases, the price rose further within the following month. The odds of a continued upward trend are .
The Tickeron Profit vs. Risk Rating rating for this company is (best 1 - 100 worst), indicating low risk on high returns. The average Profit vs. Risk Rating rating for the industry is 74, placing this stock better than average.
The Tickeron PE Growth Rating for this company is (best 1 - 100 worst), pointing to outstanding earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.
The Tickeron Seasonality Score of (best 1 - 100 worst) indicates that the company is slightly undervalued in the industry. The Tickeron Seasonality score describes the variance of predictable price changes around the same period every calendar year. These changes can be tied to a specific month, quarter, holiday or vacation period, as well as a meteorological or growing season.
The Tickeron Price Growth Rating for this company is (best 1 - 100 worst), indicating outstanding price growth. AZO’s price grows at a higher rate over the last 12 months as compared to S&P 500 index constituents.
The Tickeron Valuation Rating of (best 1 - 100 worst) indicates that the company is significantly overvalued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: P/B Ratio (36.101) is normal, around the industry mean (12.064). P/E Ratio (22.358) is within average values for comparable stocks, (36.044). Projected Growth (PEG Ratio) (1.582) is also within normal values, averaging (2.650). AZO has a moderately low Dividend Yield (0.000) as compared to the industry average of (0.034). P/S Ratio (3.265) is also within normal values, averaging (18.679).
The Tickeron SMR rating for this company is (best 1 - 100 worst), indicating weak sales and an unprofitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
a distributor of automotive replacement parts and accessories
Industry SpecialtyStores