We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
AutoZone (AZO) Ascends But Remains Behind Market: Some Facts to Note
Read MoreHide Full Article
In the latest market close, AutoZone (AZO - Free Report) reached $3,120.50, with a +0.9% movement compared to the previous day. This change lagged the S&P 500's 1.16% gain on the day. At the same time, the Dow added 1.2%, and the tech-heavy Nasdaq gained 1.16%.
Shares of the auto parts retailer witnessed a loss of 0.89% over the previous month, trailing the performance of the Retail-Wholesale sector with its gain of 5.53% and the S&P 500's gain of 3.48%.
Analysts and investors alike will be keeping a close eye on the performance of AutoZone in its upcoming earnings disclosure. The company's earnings report is set to go public on September 24, 2024. The company is predicted to post an EPS of $53.61, indicating a 15.39% growth compared to the equivalent quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $6.2 billion, indicating a 9.03% increase compared to the same quarter of the previous year.
Investors should also take note of any recent adjustments to analyst estimates for AutoZone. Such recent modifications usually signify the changing landscape of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending 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 past month, the Zacks Consensus EPS estimate remained stagnant. As of now, AutoZone holds a Zacks Rank of #3 (Hold).
Looking at its valuation, AutoZone is holding a Forward P/E ratio of 18.91. Its industry sports an average Forward P/E of 22.75, so one might conclude that AutoZone is trading at a discount comparatively.
It is also worth noting that AZO currently has a PEG ratio of 1.44. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. As the market closed yesterday, the Automotive - Retail and Wholesale - Parts industry was having an average PEG ratio of 1.53.
The Automotive - Retail and Wholesale - Parts industry is part of the Retail-Wholesale sector. At present, this industry carries a Zacks Industry Rank of 192, placing it within the bottom 25% of over 250 industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
AutoZone (AZO) Ascends But Remains Behind Market: Some Facts to Note
In the latest market close, AutoZone (AZO - Free Report) reached $3,120.50, with a +0.9% movement compared to the previous day. This change lagged the S&P 500's 1.16% gain on the day. At the same time, the Dow added 1.2%, and the tech-heavy Nasdaq gained 1.16%.
Shares of the auto parts retailer witnessed a loss of 0.89% over the previous month, trailing the performance of the Retail-Wholesale sector with its gain of 5.53% and the S&P 500's gain of 3.48%.
Analysts and investors alike will be keeping a close eye on the performance of AutoZone in its upcoming earnings disclosure. The company's earnings report is set to go public on September 24, 2024. The company is predicted to post an EPS of $53.61, indicating a 15.39% growth compared to the equivalent quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $6.2 billion, indicating a 9.03% increase compared to the same quarter of the previous year.
Investors should also take note of any recent adjustments to analyst estimates for AutoZone. Such recent modifications usually signify the changing landscape of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending 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 past month, the Zacks Consensus EPS estimate remained stagnant. As of now, AutoZone holds a Zacks Rank of #3 (Hold).
Looking at its valuation, AutoZone is holding a Forward P/E ratio of 18.91. Its industry sports an average Forward P/E of 22.75, so one might conclude that AutoZone is trading at a discount comparatively.
It is also worth noting that AZO currently has a PEG ratio of 1.44. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. As the market closed yesterday, the Automotive - Retail and Wholesale - Parts industry was having an average PEG ratio of 1.53.
The Automotive - Retail and Wholesale - Parts industry is part of the Retail-Wholesale sector. At present, this industry carries a Zacks Industry Rank of 192, placing it within the bottom 25% of over 250 industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.