AutoZone Stock Earnings Estimates Lowered by Zacks Research

AutoZone, Inc. (NYSE:AZO) – Equities researchers at Zacks Research lowered their Q2 2027 earnings per share estimates for shares of AutoZone in a research report issued on Tuesday, October 6th. Zacks Research analyst Team now forecasts that the company will post earnings of $31.45 per share for the quarter, down from their prior estimate of $32.61. The consensus estimate for AutoZone’s current full-year earnings is $171.50 per share. Zacks Research also issued estimates for AutoZone’s Q3 2027 earnings at $41.91 EPS, Q2 2028 earnings at $39.11 EPS, Q3 2028 earnings at $46.56 EPS, FY2028 earnings at $190.08 EPS and FY2029 earnings at $220.60 EPS.

AutoZone (NYSE:AZO) last released its earnings results on Tuesday, September 22nd. The company reported $56.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.54 by $55.51. AutoZone had a net margin of 12.65% and a negative return on equity of 90.08%. The company had revenue of $6.59 billion during the quarter, compared to analyst estimates of $6.70 billion. During the same period in the prior year, the firm posted $48.71 EPS. The firm’s quarterly revenue was up 5.6% compared to the same quarter last year.

Several other analysts also recently commented on AZO. Morgan Stanley downgraded shares of AutoZone from an “overweight” rating to a “market perform” rating in a research report on Tuesday, September 29th. Piper Sandler set a $3,500.00 price target on AutoZone in a research note on Monday, August 31st. Guggenheim decreased their price target on AutoZone from $4,000.00 to $3,750.00 and set a “buy” rating on the stock in a report on Wednesday, September 23rd. Citigroup decreased their price target on AutoZone from $3,700.00 to $3,450.00 and set a “buy” rating on the stock in a report on Monday, September 14th. Finally, Roth Capital dropped their price target on AutoZone from $4,023.00 to $3,850.00 and set a “buy” rating for the company in a research note on Wednesday, September 23rd. Two analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat.com, AutoZone currently has a consensus rating of “Moderate Buy” and an average price target of $3,669.12.

AutoZone Price Performance

Shares of NYSE:AZO opened at $2,910.62 on Wednesday. The company has a market capitalization of $47.53 billion, a P/E ratio of 19.05, a P/E/G ratio of 1.32 and a beta of 0.40. AutoZone has a 1-year low of $2,730.65 and a 1-year high of $4,146.42. The firm’s 50 day simple moving average is $2,947.19 and its two-hundred day simple moving average is $3,146.50.

Institutional Trading of AutoZone

Several hedge funds have recently made changes to their positions in AZO. Benchmark Investment Advisors LLC purchased a new stake in AutoZone during the second quarter valued at approximately $713,000. CYBER HORNET ETFs LLC lifted its position in AutoZone by 33,193.5% in the second quarter. CYBER HORNET ETFs LLC now owns 15,315 shares of the company’s stock worth $48,946,000 after buying an additional 15,269 shares during the last quarter. Nykredit A S purchased a new position in AutoZone during the second quarter worth $27,287,000. Bank of America Corp DE bought a new position in AutoZone during the second quarter valued at $233,576,000. Finally, BlackRock Inc. bought a new stake in shares of AutoZone in the 2nd quarter worth about $3,938,566,000. 92.74% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at AutoZone

In related news, VP Dennis LeRiche sold 1,455 shares of the firm’s stock in a transaction on Friday, August 7th. The shares were sold at an average price of $3,100.00, for a total value of $4,510,500.00. Following the completion of the transaction, the vice president directly owned 441 shares of the company’s stock, valued at approximately $1,367,100. This trade represents a 76.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 2.60% of the company’s stock.

AutoZone declared that its board has approved a share repurchase program on Tuesday, June 16th that permits the company to buyback $1.50 billion in shares. This buyback authorization permits the company to purchase up to 3% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s management believes its shares are undervalued.

Key AutoZone News

Here are the key news stories impacting AutoZone this week:

• Positive Sentiment: Bernstein upgraded AutoZone to “Strong Buy,” signaling increased confidence in the company’s outlook and potentially supporting the stock’s valuation. Bernstein upgrades AutoZone stock to Strong Buy
• Positive Sentiment: AutoZone’s average analyst price target is $3,669.12, above the stock’s recently cited trading level near $2,911, implying meaningful potential upside if estimates and valuation hold. AutoZone, Inc. Stock Has Average Price Target of $3,669.12
• Positive Sentiment: Long-term earnings expectations remain constructive: Zacks forecasts EPS of $190.08 for fiscal 2028 and $220.60 for fiscal 2029, suggesting continued profit growth beyond the near term. Zacks Research Comments on AutoZone’s Q2 Earnings
• Neutral Sentiment: Zacks modestly raised its Q3 2028 EPS forecast to $46.56 from $45.66, partially offsetting the reductions to other quarterly and annual estimates. Zacks Research Comments on AutoZone’s Q2 Earnings
• Negative Sentiment: Zacks cut several forward earnings estimates: Q1 2027 EPS fell to $34.65 from $37.78, Q4 2027 to $58.15 from $61.70, and fiscal 2027 to $166.16 from $174.73. Fiscal 2028 EPS was also reduced to $190.08 from $197.32, while Q1 and Q4 2028 estimates were lowered as well. The revisions suggest analysts see softer near- to medium-term earnings momentum. Zacks Research Comments on AutoZone’s Q2 Earnings

AutoZone Company Profile

AutoZone, Inc is a specialty retailer of automotive replacement parts, accessories and maintenance products. The company serves do-it-yourself customers as well as professional automotive repair shops, offering products such as batteries, brakes, filters, engine components, tools, fluids and other vehicle parts.

In addition to its retail stores, AutoZone provides commercial sales and delivery services for professional repair businesses. The company also operates ALLDATA, which offers automotive diagnostic, repair and shop-management software and information services to repair professionals.

Founded in 1979 and headquartered in Memphis, Tennessee, AutoZone operates primarily in the United States, with additional stores and operations in Mexico and Brazil.