Autozone shares downgraded following weak sales, earnings - WMC Action News 5 - Memphis, Tennessee

Autozone shares downgraded following weak sales, earnings

(Source: Public Domain) (Source: Public Domain)
MEMPHIS, TN (WMC) -

It's not the kind of news auto-parts retailer AutoZone wants to hear.

Analysts have downgraded shares of AutoZone after a second straight quarter of weaker sales and earnings, according to American Banking News.

American Banking News reports analysts at Raymond James Financial, Inc. downgraded AutoZone's shares from a 'strong-buy' rating to a 'market perform' rating. 

AutoZone's chairman, president, and CEO acknowledged the decline in a presentation Tuesday and said the company was caught up in challenges that are "broad-based across our industry."

Copyright 2017 WMC Action News 5. All rights reserved.

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