AutoZone Data Looks Sharp As Retailer Chases New Highs
Thinknum | Sep 24, 2019 04:09AM ET
AutoZone (NYSE:AZO)'s on a roll.
The auto-parts retailer is seeing stock chase all-time highs, and shares are up about 5.5% over the course since the second half of 2019 started. When it announces earnings September 24, analysts tracked by Zacks Investment Research are looking for EPS $21.64. But alternative data suggests that there could be more good times ahead for AutoZone, its employees, and investors.
Any time you've got a half-million of something you're already headed in the right direction. AutoZone's Facebook (NASDAQ:FB) Were Here Count - a measurement of how often users of the social network make posts and other actions at certain locations (like a retailer, or restaurant) indicates continued growth in terms of foot traffic to AutoZone.
AutoZone doesn't quite have a half-million job postings - only around 30,000, covering roughly 6,000 stores mostly in the US but also in Mexico and Brazil. And although they appear to have drifted down about 1.5% over the course of the most recent quarter, it's not necessarily a bad sign - at least, not with so many other open roles.
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Finally, AutoZone is potentially a beneficiary of a new trend that's emerging in the used auto world - right now, used cars are seeing prices shoot up on secondary sales sites like CarMax (NYSE:KMX) - and more cars going online for sale. While increasing prices may, or may not, help revenue at parts sellers like AutoZone (NYSE:AZO) - an influx of more used cars being sold via the web invariably requires some degree of maintenance and upkeep - and that's only a positive net benefit.
About the Data:
Thinknum tracks companies using information they post online - jobs, social and web traffic, product sales and app ratings - and creates data sets that measure factors like hiring, revenue and foot traffic. Data sets may not be fully comprehensive (they only account for what is available on the web), but they can be used to gauge performance factors like staffing and sales.
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