Autozone shares downgraded following weak sales, earnings

Autozone shares downgraded following weak sales, earnings

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."

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