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AutoZone (AZO) Gains But Lags Market: What You Should Know
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AutoZone (AZO - Free Report) closed at $2,301.03 in the latest trading session, marking a +1.87% move from the prior day. The stock lagged the S&P 500's daily gain of 2.37%. At the same time, the Dow added 2.47%, and the tech-heavy Nasdaq lost 0.07%.
Prior to today's trading, shares of the auto parts retailer had gained 8.46% over the past month. This has outpaced the Retail-Wholesale sector's loss of 6.06% and the S&P 500's loss of 4.82% in that time.
Investors will be hoping for strength from AutoZone as it approaches its next earnings release. The company is expected to report EPS of $25.21, down 1.87% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $3.83 billion, up 4.28% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $125.22 per share and revenue of $17.05 billion, which would represent changes of +6.85% and +4.88%, respectively, from the prior year.
Any recent changes to analyst estimates for AutoZone should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 1.25% higher within the past month. AutoZone is holding a Zacks Rank of #3 (Hold) right now.
Investors should also note AutoZone's current valuation metrics, including its Forward P/E ratio of 18.04. This represents a premium compared to its industry's average Forward P/E of 15.6.
Investors should also note that AZO has a PEG ratio of 1.36 right now. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. AZO's industry had an average PEG ratio of 1.64 as of yesterday's close.
The Automotive - Retail and Wholesale - Parts industry is part of the Retail-Wholesale sector. This group has a Zacks Industry Rank of 213, putting it in the bottom 16% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow AZO in the coming trading sessions, be sure to utilize Zacks.com.
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AutoZone (AZO) Gains But Lags Market: What You Should Know
AutoZone (AZO - Free Report) closed at $2,301.03 in the latest trading session, marking a +1.87% move from the prior day. The stock lagged the S&P 500's daily gain of 2.37%. At the same time, the Dow added 2.47%, and the tech-heavy Nasdaq lost 0.07%.
Prior to today's trading, shares of the auto parts retailer had gained 8.46% over the past month. This has outpaced the Retail-Wholesale sector's loss of 6.06% and the S&P 500's loss of 4.82% in that time.
Investors will be hoping for strength from AutoZone as it approaches its next earnings release. The company is expected to report EPS of $25.21, down 1.87% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $3.83 billion, up 4.28% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $125.22 per share and revenue of $17.05 billion, which would represent changes of +6.85% and +4.88%, respectively, from the prior year.
Any recent changes to analyst estimates for AutoZone should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 1.25% higher within the past month. AutoZone is holding a Zacks Rank of #3 (Hold) right now.
Investors should also note AutoZone's current valuation metrics, including its Forward P/E ratio of 18.04. This represents a premium compared to its industry's average Forward P/E of 15.6.
Investors should also note that AZO has a PEG ratio of 1.36 right now. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. AZO's industry had an average PEG ratio of 1.64 as of yesterday's close.
The Automotive - Retail and Wholesale - Parts industry is part of the Retail-Wholesale sector. This group has a Zacks Industry Rank of 213, putting it in the bottom 16% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow AZO in the coming trading sessions, be sure to utilize Zacks.com.