Shares of auto parts and accessories provider AutoZone (NYSE:AZO) are trending lower today after investors were left unimpressed with the company’s third-quarter numbers.
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During the quarter, revenue rose 5.7% year-over-year to $4.09 billion but missed expectations by $30 million. EPS at $34.12 though outperformed estimates by $2.83. The company saw 1.9% higher same-store sales during the quarter.
At the same time, AZO also saw an impact from weaker-than-expected sales during the month of March on its quarterly performance. The company opened about 30 new stores in Q1, taking the total store count to 7,044.
Overall, the Street has a $2,721.54 consensus price target on AutoZone alongside a Moderate Buy consensus rating. Shares of the company have surged 45.1% over the past year already.
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