Investment firms such as SG Americas Securities LLC, Wealthspire Advisors LLC, and Duality Advisers LP have increased their stock holdings in AutoZone, Inc. (NYSE:AZO). The company has reported higher sales and profit for Q3 2024, leading to strong analyst ratings. One exception was Janney Montgomery Scott LLC, which sold its AutoZone shares. Conversely, Central Pacific Bank Trust Division made a new investment in AZO. As a result, the stock's positive momentum seems poised to continue in the long-term. However, recent Q2 revenue fell short of estimates and commercial sales expansion efforts faltered. This caused the stock price to drop, despite beating earnings estimates. Persistent bullish signals include an impressive EPS growth and a new all-time high stock price. However, there have been concerns around insiders disposing of stock and a potential decrease in domestic sales. Despite these challenges, the overall investor sentiment remains less pessimistic than expected. Notably, AZO has reaffirmed its Market Perform rating and announced an additional $1.5B stock buyback.
Autozone AZO News Analytics from Tue, 31 Oct 2023 07:00:00 GMT to Sun, 14 Jul 2024 12:38:28 GMT - Rating 5 - Innovation -3 - Information 8 - Rumor 2
