AutoZone stock is revving higher, driving toward its all-time high, set on Dec. 1. On Wednesday, AutoZone stock climbed into a new percentile, as its Relative Strength (RS) Rating got a lift from 68 to 71.
Some AutoZone Stock Ratings Roar, Others Need tuneup
The 71 RS Rating puts AutoZone stock in the top 30% of all stocks, regardless of industry. AutoZone is a mixed bag, with some outstanding ratings and stock growth, and other ratings that could use a tuneup.
Among its other ratings, Memphis-based AutoZone boasts an outstanding 93 Earnings Per Share Rating, out of 99, based on strong recent and long-term profit growth. In a year that devastated fundamentals for many companies, AutoZone reported profit growth every quarter, ranging up to 47%. Its Composite Rating, on the other hand, is a mediocre 67. Look for that rating, a collection of key fundamental and technical metrics, to improve.
When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength. Market history shows that winning stocks often have an RS Rating north of 80 in the early stages of their moves. See if AutoZone, which operates 6,168 stores in the U.S., Mexico and South America, can continue to show renewed price strength and hit that benchmark.
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Working On A Flat Base
AutoZone stock is trying to complete a flat base with a 2,610.15 entry. It cruised closer to that buy point Wednesday afternoon, rising about 0.7% to just below 2360. See if the stock can clear the breakout price in heavy volume.
AutoZone reported a 9% year-over-year rise in earnings last quarter to $27.45 per share. The previous three periods its EPS rose 47%, 9% and 17%. Revenue last quarter also grew 9% to $3.99 billion.
AutoZone stock earns the No. 6 rank among its peers in the Retail/Wholesale-Auto industry group. Copart and Genuine Parts are among the group's highest-rated stocks.
IBD's unique rating tracks share price performance with a 1 (worst) to 99 (best) score. The score shows how a stock's price movement over the last 52 weeks holds up against all the other stocks in our database.
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