During a market sell-off, such as the one investors have been experiencing this week, particularly with Japan's stock market index (Nikkei 225) selling off by double-digits in a single week only to recover by 12% the day after the crash, investors need to know where their money could be allocated as a discount buying strategy. The last time the market sold off by this much was October 2023, and these types of stocks rallied by double-digits in the following quarter.

AutoZone (AZO) reachead $3,119.59 at the closing of the latest trading day, reflecting a +0.23% change compared to its last close.

AutoZone stock has outperformed the S&P 500 YTD and shown a lack of correlation with the overall market. Despite concerns about EVs impacting auto parts sales, AZO's robust outlook is supported by the aging fleet of gasoline cars. The Company's consistent revenue growth, even during industry-specific challenging times like the COVID-19 pandemic, affirms the strengths of this rationale.

AutoZone (AZO) has received quite a bit of attention from Zacks.com users lately. Therefore, it is wise to be aware of the facts that can impact the stock's prospects.

MEMPHIS, Tenn., July 29, 2024 (GLOBE NEWSWIRE) -- AutoZone, Inc. (NYSE: AZO), today announced that Kenneth Jaycox joins the Company as Senior Vice President, Commercial, Customer Satisfaction.

While the overall market hovers near an all-time high, retail stocks lagged. Take the SPDR S&P Retail ETF (NYSEARCA: XRT ), for instance, the largest ETF in the space, which has yet to reclaim its 2021 highs.

AutoZone (AZO) concluded the recent trading session at $2,941.73, signifying a +0.69% move from its prior day's close.

Recently, Zacks.com users have been paying close attention to AutoZone (AZO). This makes it worthwhile to examine what the stock has in store.

AutoZone (AZO) has received quite a bit of attention from Zacks.com users lately. Therefore, it is wise to be aware of the facts that can impact the stock's prospects.

AutoZone delivered strong EPS growth in Q3, outperforming analyst estimates by $1.02 per share but fell short of revenue expectations. Despite challenges in the domestic market, AutoZone is focused on growth through store expansion, commercial focus, and international markets. Management is aligned with long-term success, but high leverage and declining free cash flow raise concerns about an aggressive buyback program.

Stock splits are popular once again. In June, Nvidia (NASDAQ: NVDA ) split its stock on a 10-for-1 basis and Chipotle Mexican Grill (NYSE: CMG ) executed a 50-for-1 split, the first in the restaurant chain's history.

Zacks.com users have recently been watching AutoZone (AZO) quite a bit. Thus, it is worth knowing the facts that could determine the stock's prospects.