5 Stocks Making Big Moves After Earnings Reports

4. AutoZone, Inc. (NYSE:AZO)

Number of Hedge Fund Holders: 34

AutoZone, Inc. (NYSE:AZO) is a well known supplier of automotive parts and accessories in the U.S. AutoZone stock recently hit an all-time high of $1,694.27 after delivering impressive results for its fiscal fourth quarter.

The company reported earnings of $35.72 per share for the three months ended 28 August 2021, up from $30.93 per share in the comparable period of 2020. Analysts were expecting AutoZone, Inc. (NYSE:AZO) to report earnings of $30.06 per share.

Revenue for the quarter rose 8.1 percent on a year-over-year basis to $4.91 billion, beating analysts’ average estimate of $4.57 billion. In addition, AutoZone, Inc. (NYSE:AZO) opened 29 stores during the quarter, bringing the total store count to 6,767.

Commenting on the results, CEO Bill Rhodes said in a statement:

“Our strong sales and earnings this quarter are a testament to our AutoZoners’ ongoing commitment to going the extra mile for our customers. Our retail business performed very well this quarter ending with virtually flat same store sales on top of last year’s historic growth of over 20%. And, our commercial business growth continues to be exceptionally strong at 21.2%. The investments we are making continue to strengthen our competitive positioning in all the sectors and markets we compete. We are optimistic about our growth prospects heading into our new fiscal year.”