AutoZone Inc. (NYSE:AZO) has been drawing significant attention from institutional investors, including Teachers Retirement System of The State of Kentucky and Evercore Wealth Management LLC, leading to changes in their stake. Despite observable robust profits, there are speculations of
underlying issues, and investment advisors sequentially decreasing their positions in the company. However, market whales appear to be active with AZO. Recent push to expand commercial sales saw AutoZone's shares falter, but the company reassures that the deceleration in domestic sales is not a concern. Q3 2024 reported higher sales and profit, although mixed earnings results demonstrated a noteworthy miss on Q2 revenue estimates. On a brighter note, firm's
EPS surged to $28.89 in Q2, with strong fiscal results reported in Q3. However, the stock appeared to underperform on certain days in comparison to competitors, and a
share buyback program was initiated. Despite these, loyal investors who made the leap five years ago found their faith rewarded with a 201% increase on their investment, cementing AutoZone's top rank position in the market. Currently, the consensus among brokerages seems to be a “Moderate Buy” recommendation. Lastly, the company is reported to possibly announce a stock split in the near future.
Autozone AZO News Analytics from Tue, 31 Oct 2023 07:00:00 GMT to Sun, 16 Jun 2024 17:23:30 GMT -
Rating 7
- Innovation 3
- Information 8
- Rumor -2
