AutoZone (AZO) Soars 4.0%: Is Further Upside Left in the Stock?

AutoZone (AZO) shares ended the last trading session 4% higher at $3,828.11. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 8.5% gain over the past four weeks.AutoZone's stock has surged following President Donald Trump's unexpectedly steep 25% tariffs on foreign vehicles, as consumers opt to keep their existing cars longer, driving up demand for auto parts.This auto parts retailer is expected to post quarterly earnings of $37.07 per share in its upcoming report, which represents a year-over-year change of +1%. Revenues are expected to be $4.41 billion, up 4.2% from the year-ago quarter.While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.For AutoZone, the consensus EPS estimate for the quarter has been revised 3.3% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on AZO going forward to see if this recent jump can turn into more strength down the road.The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>AutoZone is a member of the Zacks Automotive - Retail and Wholesale - Parts industry. One other stock in the same industry, Driven Brands Holdings Inc. (DRVN), finished the last trading session 2.9% higher at $17.89. DRVN has returned 6.3% over the past month.For Driven Brands Holdings, the consensus EPS estimate for the upcoming report has changed -34.2% over the past month to $0.23. This represents no change from what the company reported a year ago. Driven Brands Holdings currently has a Zacks Rank of #3 (Hold).Zacks' Research Chief Names "Stock Most Likely to Double"Our team of experts has just released the 5 stocks with the greatest probability of gaining +100% or more in the coming months. Of those 5, Director of Research Sheraz Mian highlights the one stock set to climb highest.This top pick is among the most innovative financial firms. With a fast-growing customer base (already 50+ million) and a diverse set of cutting edge solutions, this stock is poised for big gains. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.Free: See Our Top Stock And 4 Runners UpWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report AutoZone, Inc. (AZO): Free Stock Analysis Report Driven Brands Holdings Inc. (DRVN): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks