What's Happening with AZO
Auto parts retailer AutoZone (AZO) is scheduled to release its fiscal second-quarter numbers March 3 before the market opens. The consensus calls for earnings of $12.01, versus $11.49 during the same period last year. AZO stock is down 15.8% on the year.
Technical Analysis
AZO was recently trading at $1003.6 down $270.81 from its 12-month high and $93.44 above its 12-month low. InvestorsObserver gives AZO a 30 long-term technical score and a 91 short-term technical score. The stock has recent support above $975 and recent resistance below $1075. Of the 17 analysts who cover the stock 9 rate it Strong Buy, 1 rate it Buy, 7 rate it Hold, 0 rate it Sell, and 0 rate it Strong Sell, AZO gets an overall score of 63 from InvestorsObserver.
Analysts' Thoughts
AZO was already trending lower before the overall market correction, and selling pressure only intensified as the overall market quickly fell into correction territory. Last quarter the company posted better than expected numbers, but the stock has been unable to build any support since starting to drop at the beginning of December. The company will need to post solid numbers for investor optimism to start returning, and unless the overall market is able to find its footing and start to erase some of the last week's losses it will be tough for AZO to stage any meaningful comeback regardless of the quarterly numbers. A strong report will help, but AZO needs overall market sentiment to improve for shares to start a rally. The street expects to see AutoZone post better than expected quarterly profits with a whisper number of $12.01 for the quarter. Analysts have an average price target of $1,287.14 on the stock.