---
title: "BUZZ-AutoZone shares accelerate after buyback announcement"
description: "AutoZone shares have risen 1.7% after announcing a $1.5 billion stock repurchase. The company's stock is on track to rise for the fourth consecutive session. AutoZone's quarterly revenue previously mi"
type: "news"
locale: "en"
url: "https://longbridge.com/en/news/206826152.md"
published_at: "2024-06-20T14:55:29.000Z"
---

# BUZZ-AutoZone shares accelerate after buyback announcement

> AutoZone shares have risen 1.7% after announcing a $1.5 billion stock repurchase. The company's stock is on track to rise for the fourth consecutive session. AutoZone's quarterly revenue previously missed consensus, resulting in a decrease in analysts' median price target. Rivals O'Reilly Automotive and Advance Auto Parts have also seen increases in their stock prices.

AutoZone’s (AZO.N) shares up 1.7% on Thurs to $3,020.48, over 2-mth high, as auto parts retailer plans to buy more of its stock

AZO on course to rise for 4th straight session

Co on Weds announced additional $1.5 bln stock repurchase as part of ongoing buyback program

Per LSEG data, co has ~17.08 mln shares outstanding for current market cap of ~$51.5 bln

On May 21, AZO closed down 3.5% after co’s qtrly rev missed consensus, with analysts pointing to slowing domestic sales

Avg recommendation among 28 analysts is “buy” with median PT of $3,278, down from $3,400 a mth ago - LSEG

With move on the session, AZO up ~17% YTD

Shares of rivals O’Reilly Automotive (ORLY.O) and Advance Auto Parts (AAP.N) up ~13% and ~7%, respectively, in 2024

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

### Related Stocks

- [AZO.US - AutoZone](https://longbridge.com/en/quote/AZO.US.md)

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> **Disclaimer**: This article is for reference only and does not constitute any investment advice.