What is Zacks Research's Forecast for AutoZone Q2 Earnings?

Key Points

• Zacks Research lowered its Q2 2027 EPS forecast for AutoZone to $31.45, down from $32.61. It also estimates $41.91 EPS for Q3 2027 and $190.08 in fiscal 2028 earnings.
• AutoZone’s latest quarter showed $56.05 EPS, exceeding estimates, while revenue rose 5.6% year over year to $6.59 billion but fell short of analyst expectations.
• Despite several analysts reducing price targets, AutoZone retains a “Moderate Buy” consensus rating with an average target of $3,669.12; the company also authorized a $1.5 billion share-repurchase program.

AutoZone, Inc. (NYSE:AZO - Free Report) - Stock analysts at Zacks Research dropped 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 per share of $31.45 for the quarter, down from their prior forecast of $32.61. The consensus estimate for AutoZone's current full-year earnings is $172.12 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 - Get Free Report) last released its quarterly earnings results on Tuesday, September 22nd. The company reported $56.05 EPS for the quarter, beating 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 firm had revenue of $6.59 billion for the quarter, compared to analyst estimates of $6.70 billion. During the same quarter in the previous year, the company earned $48.71 EPS. The business's revenue for the quarter was up 5.6% compared to the same quarter last year.

Several other analysts have also recently weighed in on the stock. Barclays reduced their target price on shares of AutoZone from $3,637.00 to $3,400.00 and set an "overweight" rating on the stock in a report on Wednesday, September 23rd. Sanford C. Bernstein initiated coverage on shares of AutoZone in a research report on Tuesday, September 29th. They issued an "outperform" rating and a $3,698.00 price objective on the stock. Weiss Ratings downgraded shares of AutoZone from a "hold (c+)" rating to a "hold (c)" rating in a research note on Thursday, July 23rd. JPMorgan Chase & Co. cut their price target on AutoZone from $3,850.00 to $3,700.00 and set an "overweight" rating on the stock in a research note on Monday, September 28th. Finally, Guggenheim lowered their price objective on AutoZone from $4,000.00 to $3,750.00 and set a "buy" rating for the company in a research report on Wednesday, September 23rd. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat, AutoZone presently has a consensus rating of "Moderate Buy" and a consensus price target of $3,669.12.

AutoZone Price Performance

AZO stock opened at $2,900.90 on Wednesday. The business's 50-day moving average is $2,955.17 and its two-hundred day moving average is $3,152.61. The firm has a market capitalization of $47.37 billion, a P/E ratio of 18.99, a P/E/G ratio of 1.30 and a beta of 0.40. AutoZone has a 1 year low of $2,730.65 and a 1 year high of $4,170.00.

Institutional Trading of AutoZone

A number of large investors have recently bought and sold shares of the business. MCF Advisors LLC boosted its stake in shares of AutoZone by 50.0% during the 4th quarter. MCF Advisors LLC now owns 9 shares of the company's stock valued at $31,000 after buying an additional 3 shares during the last quarter. Pure Financial Advisors LLC grew its holdings in AutoZone by 2.4% during the 4th quarter. Pure Financial Advisors LLC now owns 127 shares of the company's stock worth $430,000 after acquiring an additional 3 shares in the last quarter. IVC Wealth Advisors LLC grew its holdings in AutoZone by 2.9% during the 1st quarter. IVC Wealth Advisors LLC now owns 107 shares of the company's stock worth $361,000 after acquiring an additional 3 shares in the last quarter. Petredis Investment Advisors LLC increased its position in shares of AutoZone by 0.4% in the 1st quarter. Petredis Investment Advisors LLC now owns 762 shares of the company's stock worth $2,574,000 after purchasing an additional 3 shares during the last quarter. Finally, KFG Wealth Management LLC raised its stake in shares of AutoZone by 2.2% in the 1st quarter. KFG Wealth Management LLC now owns 142 shares of the company's stock valued at $480,000 after purchasing an additional 3 shares in the last quarter. Institutional investors and hedge funds own 92.74% of the company's stock.

Insider Activity

In related news, VP Dennis LeRiche sold 1,455 shares of the company's stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $3,100.00, for a total value of $4,510,500.00. Following the completion of the sale, the vice president directly owned 441 shares of the company's stock, valued at $1,367,100. This represents a 76.74% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 2.60% of the company's stock.

AutoZone declared that its Board of Directors has approved a stock repurchase program on Tuesday, June 16th that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the company to reacquire up to 3% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's board believes its stock is undervalued.

AutoZone News Roundup

Here are the key news stories impacting AutoZone this week:

• Positive Sentiment: Bernstein upgraded AutoZone to Strong Buy, providing a bullish signal on the company’s earnings outlook and valuation. Bernstein upgrades AutoZone stock to Strong Buy
• Positive Sentiment: AutoZone has an average analyst price target of $3,669.12, materially above its recent trading level, indicating continued expectations for share-price appreciation. AutoZone stock has average price target of $3,669.12
• Positive Sentiment: Zacks Research introduced a FY2029 EPS estimate of $220.60 and raised its Q3 2028 forecast to $46.56 from $45.66, pointing to substantial longer-term earnings growth.
• Neutral Sentiment: Zacks’ estimates remain mixed: the firm lowered forecasts for Q2 2027 EPS to $31.45, Q3 2027 EPS to $41.91, Q2 2028 EPS to $39.11, and FY2028 EPS to $190.08, while maintaining the current-year consensus estimate of $172.12.

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.

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