Amazon (AMZN) Buys Westborough Property, Expands Presence
Amazon (AMZN) purchases a $65-million property in Westborough, MA, to expand its presence by building a 221,000-square-foot last-mile fulfillment center.
Amazon.com AMZN recently purchased a 93-acre property in Westborough to continue the expansion of its presence in Massachusetts. According to media reports, the $65-million property will be transformed into a 221,000-square-foot distribution center site for the e-commerce giant.
Per the Worcester Registry of Deeds records, Amazon, one of the largest e-commerce providers globally, acquired the facility from Carruth Capital LLC, a privately-owned commercial real estate firm in Westborough.
The current building at the site will be demolished and the last mile Amazon fulfillment center will be built in its place. This plan has been proposed by real-estate operator, Atlantic Management Corporation, and sanctioned by the Westborough Planning Board.
In October, Amazon expanded its robotics operation unit by unveiling a 350,000-square feet facility in Westborough for manufacturing drive unit robots. The new property featuring offices, research and development labs, and manufacturing space accommodates about 200 workers.
Amazon.com, Inc. Price and Consensus
Amazon has been gaining on solid Prime momentum owing to ultrafast delivery services and a strong content portfolio. The growing momentum across Amazon Music and the strong adoption rate of Amazon Web Services (“AWS”) are positives. Robust Alexa skills and expanding smart home products portfolio are contributing well. However, the AWS business is bringing an element of cyclicality into the business. AWS continues to account for a small percentage of the company’s overall business while having a significant impact on its profitability due to the low-margin profile of the retail business.
During the third quarter of 2021, Amazon reported net sales of $110.81 billion, indicating year-over-year surge of 15%. The Zacks Consensus Estimate for its fourth-quarter 2021 sales is pegged at $137.63 billion, suggesting growth of 9.6%.
Zacks Rank & Stocks to Consider
Amazon currently carries a Zacks Rank #4 (Sell).
Some better-ranked stocks from the broader retail-wholesale sector include Build-A-Bear Workshop BBW, The Buckle BKE and AutoZone AZO, each flaunting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Build-A-Bear’s fourth-quarter fiscal 2021 earnings has been revised downward by 12 cents to 64 cents per share over the past 30 days. For fiscal 2021, earnings estimates have moved upward by 26.7% to $2.04 per share in the last 30 days.
Build-A-Bear’s earnings beat the Zacks Consensus Estimate in the preceding four quarters, the average surprise being 261.4%. BBW stock has soared 333.7% YTD.
The Zacks Consensus Estimate for The Buckle’s fourth-quarter fiscal 2022 earnings has been revised upward by2.4% to $1.29 per share over the past 60 days. For fiscal 2022, earnings estimates have moved north by 52 cents to $4.76 per share in the past 60 days.
The Buckle’s earnings beat the Zacks Consensus Estimate in each of the preceding four quarters, the average surprise being 42.8%. Shares of BKE have rallied 46.2% in the YTD period.
The consensus mark for AutoZone’s second-quarter fiscal 2022 earnings has been revised upward to $17.94 per share from $16.12 over the past 30 days. For fiscal 2022, earnings estimates have been revised upward by 8.9 cents to $106.60 per share in the last 30 days.
AutoZone’s earnings beat the Zacks Consensus Estimate in each of the preceding four quarters, the average surprise being 23.2%. Shares of AZO have surged 75.8% YTD.
Zacks Top 10 Stocks for 2022
In addition to the investment ideas discussed above, would you like to know about our 10 top picks for the entirety of 2022?
From inception in 2012 through November, the Zacks Top 10 Stocks gained an impressive +962.5% versus the S&P 500’s +329.4%. Now our Director of Research is combing through 4,000 companies covered by the Zacks Rank to handpick the best 10 tickers to buy and hold. Don’t miss your chance to get in on these stocks when they’re released on January 3.Be First To New Top 10 Stocks >>
Want 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
Amazon.com, Inc. (AMZN): Free Stock Analysis Report
AutoZone, Inc. (AZO): Free Stock Analysis Report
Buckle, Inc. The (BKE): Free Stock Analysis Report
BuildABear Workshop, Inc. (BBW): Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research