Autozone Shares 5.6% Jump in Same-Store Sales for Fiscal Q1

AutoZone also shared an earnings and revenue beat

Digital Content Manager
Dec 6, 2022 at 10:07 AM
facebook twitter linkedin


Autozone Inc (NYSE:AZO) stepped into the earnings confessional early this morning, posting s 5.6% jump in same-store sales, and a rise in earnings per share (EPS) to $27.45 -- topping expectations. The company's revenue for the fiscal first quarter also beat estimates, rising to $3.99 billion. Additionally, inventory rose 17.6% year-over-year, thanks to inflation and internal growth initiatives. 

AZO is dropping, despite the upbeat report, last seen down 1.8% at $2,481.31. The security is coming off a record high of $2,610.05, touched on Dec. 1. The stock saw its first close below the 10-day moving average in over two weeks yesterday, though there's still a confluence of moving averages just below ready to provide potential support. Year-over-year, AZO is up over 35%. 

Despite its outperformance, short-term options traders are quite put-biased. This is per the stock's Schaeffer's put/call open interest ratio (SOIR) of 1.60, which stands higher than 77% of readings from the past year. 

Short sellers, on the other hand, are hitting the exits. Short interest dropped 19.9% in the last two reporting periods, and only makes up 1.9% of the stock's available float. Meanwhile, analysts lean bullish. Of the 16 in coverage, all but three call the equity a "buy" or better.

 

 

Minimize Risk While Maximizing Profits

There is no options strategy like this one, which consistently minimizes risk while maintaining maximum profits. Perfect for traders looking for ways to control risk, reduce losses, and increase the likelihood of success when trading calls and puts. The Schaeffer’s team has over 41 years of options trading success targeting +100% gains on every trade. Rest assured your losses are effectively limited to your initial cost at the time of making your move! Don't waste another second... join us right now before the next trade is released! 

 


 


 
Special Offers from Schaeffer's Trading Partners