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AutoZone (AZO) Stock Dips While Market Gains: Key Facts
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AutoZone (AZO - Free Report) ended the recent trading session at $3,101.04, demonstrating a -0.71% swing from the preceding day's closing price. The stock's change was less than the S&P 500's daily gain of 0.13%. At the same time, the Dow added 0.55%, and the tech-heavy Nasdaq lost 0.52%.
Shares of the auto parts retailer witnessed a loss of 2.79% over the previous month, trailing the performance of the Retail-Wholesale sector with its gain of 8.29% and the S&P 500's gain of 3.67%.
Market participants will be closely following the financial results of AutoZone in its upcoming release. The company plans to announce its earnings on September 24, 2024. It is anticipated that the company will report an EPS of $53.61, marking a 15.39% rise compared to the same quarter of the previous 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 pay attention to any latest changes in analyst estimates for AutoZone. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. AutoZone currently has a Zacks Rank of #3 (Hold).
Looking at its valuation, AutoZone is holding a Forward P/E ratio of 19.1. This valuation marks a discount compared to its industry's average Forward P/E of 22.74.
We can also see that AZO currently has a PEG ratio of 1.45. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. Automotive - Retail and Wholesale - Parts stocks are, on average, holding a PEG ratio of 1.53 based on yesterday's closing prices.
The Automotive - Retail and Wholesale - Parts industry is part of the Retail-Wholesale sector. At present, this industry carries a Zacks Industry Rank of 226, placing it within the bottom 11% of over 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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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AutoZone (AZO) Stock Dips While Market Gains: Key Facts
AutoZone (AZO - Free Report) ended the recent trading session at $3,101.04, demonstrating a -0.71% swing from the preceding day's closing price. The stock's change was less than the S&P 500's daily gain of 0.13%. At the same time, the Dow added 0.55%, and the tech-heavy Nasdaq lost 0.52%.
Shares of the auto parts retailer witnessed a loss of 2.79% over the previous month, trailing the performance of the Retail-Wholesale sector with its gain of 8.29% and the S&P 500's gain of 3.67%.
Market participants will be closely following the financial results of AutoZone in its upcoming release. The company plans to announce its earnings on September 24, 2024. It is anticipated that the company will report an EPS of $53.61, marking a 15.39% rise compared to the same quarter of the previous 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 pay attention to any latest changes in analyst estimates for AutoZone. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. AutoZone currently has a Zacks Rank of #3 (Hold).
Looking at its valuation, AutoZone is holding a Forward P/E ratio of 19.1. This valuation marks a discount compared to its industry's average Forward P/E of 22.74.
We can also see that AZO currently has a PEG ratio of 1.45. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. Automotive - Retail and Wholesale - Parts stocks are, on average, holding a PEG ratio of 1.53 based on yesterday's closing prices.
The Automotive - Retail and Wholesale - Parts industry is part of the Retail-Wholesale sector. At present, this industry carries a Zacks Industry Rank of 226, placing it within the bottom 11% of over 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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.