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Strength Seen in AutoZone (AZO): Stock Soars 6.8%

Zacks

AutoZone, Inc. AZO was a big mover last session, as the company saw its shares rise nearly 7% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. This continues the recent uptrend for the company—as the stock is now up 15.7% in the past one-month time frame.

The move came after the company reported better-than-expected first-quarter fiscal 2019 (ended Nov 17, 2018) results.

The company has seen two positive estimate revisions in the past few weeks, while its Zacks Consensus Estimate for the current quarter has also moved higher over the past few weeks, suggesting that more solid trading could be ahead for AutoZone. So, make sure to keep an eye on this stock going forward to see if this recent jump can turn into more strength down the road.

AutoZone currently has a Zacks Rank #2 (Buy) while its Earnings ESP is positive.


AutoZone, Inc. Price

Investors interested in the Retail-Wholesale sector may consider Asbury Automotive Group, Inc. ABG, which also has a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

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