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AutoZone (AZO) Stock Moves -1.31%: What You Should Know
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AutoZone (AZO - Free Report) closed at $3,139.67 in the latest trading session, marking a -1.31% move from the prior day. The stock exceeded the S&P 500, which registered a loss of 2.12% for the day. On the other hand, the Dow registered a loss of 1.51%, and the technology-centric Nasdaq decreased by 3.26%.
Shares of the auto parts retailer witnessed a gain of 2.22% over the previous month, trailing the performance of the Retail-Wholesale sector with its gain of 6.81% and the S&P 500's gain of 5.78%.
The investment community will be paying close attention to the earnings performance of AutoZone in its upcoming release. The company is slated to reveal its earnings on September 24, 2024. The company is expected to report EPS of $53.61, up 15.39% from the prior-year quarter. In the meantime, our current consensus estimate forecasts the revenue to be $6.2 billion, indicating a 9.03% growth compared to the corresponding quarter of the prior year.
Investors should also pay attention to any latest changes in analyst estimates for AutoZone. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Currently, AutoZone is carrying a Zacks Rank of #3 (Hold).
With respect to valuation, AutoZone is currently being traded at a Forward P/E ratio of 19.45. This denotes a discount relative to the industry's average Forward P/E of 23.47.
One should further note that AZO currently holds a PEG ratio of 1.48. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. As of the close of trade yesterday, the Automotive - Retail and Wholesale - Parts industry held an average PEG ratio of 1.6.
The Automotive - Retail and Wholesale - Parts industry is part of the Retail-Wholesale sector. This industry, currently bearing a Zacks Industry Rank of 194, finds itself in the bottom 24% echelons of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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AutoZone (AZO) Stock Moves -1.31%: What You Should Know
AutoZone (AZO - Free Report) closed at $3,139.67 in the latest trading session, marking a -1.31% move from the prior day. The stock exceeded the S&P 500, which registered a loss of 2.12% for the day. On the other hand, the Dow registered a loss of 1.51%, and the technology-centric Nasdaq decreased by 3.26%.
Shares of the auto parts retailer witnessed a gain of 2.22% over the previous month, trailing the performance of the Retail-Wholesale sector with its gain of 6.81% and the S&P 500's gain of 5.78%.
The investment community will be paying close attention to the earnings performance of AutoZone in its upcoming release. The company is slated to reveal its earnings on September 24, 2024. The company is expected to report EPS of $53.61, up 15.39% from the prior-year quarter. In the meantime, our current consensus estimate forecasts the revenue to be $6.2 billion, indicating a 9.03% growth compared to the corresponding quarter of the prior year.
Investors should also pay attention to any latest changes in analyst estimates for AutoZone. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Currently, AutoZone is carrying a Zacks Rank of #3 (Hold).
With respect to valuation, AutoZone is currently being traded at a Forward P/E ratio of 19.45. This denotes a discount relative to the industry's average Forward P/E of 23.47.
One should further note that AZO currently holds a PEG ratio of 1.48. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. As of the close of trade yesterday, the Automotive - Retail and Wholesale - Parts industry held an average PEG ratio of 1.6.
The Automotive - Retail and Wholesale - Parts industry is part of the Retail-Wholesale sector. This industry, currently bearing a Zacks Industry Rank of 194, finds itself in the bottom 24% echelons of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.