What is Zacks Research's Forecast for AutoZone Q3 Earnings?

Key Points

• Zacks Research raised its Q3 2026 EPS estimate to $36.09 (from $35.85) and maintains a "Hold" rating on AutoZone, while projecting FY2028 EPS of $196.71.
• In AutoZone's most recent quarter (reported Mar 3) EPS was $27.63, beating estimates by $0.04 while revenue of $4.27 billion slightly missed expectations; quarterly revenue rose 8.2% year‑over‑year and net margin was 12.47%.
• Analyst sentiment is generally positive (average MarketBeat consensus rating "Moderate Buy" with a $4,312.13 price target), and the stock trades around $3,439.82 with a market cap near $57 billion and a P/E of 24.1.

AutoZone, Inc. (NYSE:AZO - Free Report) - Stock analysts at Zacks Research boosted their Q3 2026 EPS estimates for shares of AutoZone in a report released on Tuesday, March 17th. Zacks Research analyst Team now anticipates that the company will post earnings of $36.09 per share for the quarter, up from their previous estimate of $35.85. Zacks Research currently has a "Hold" rating on the stock. The consensus estimate for AutoZone's current full-year earnings is $152.94 per share. Zacks Research also issued estimates for AutoZone's Q4 2026 earnings at $54.71 EPS, Q1 2027 earnings at $37.35 EPS, Q2 2028 earnings at $40.54 EPS and FY2028 earnings at $196.71 EPS.

AutoZone (NYSE:AZO - Get Free Report) last posted its quarterly earnings results on Tuesday, March 3rd. The company reported $27.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $27.59 by $0.04. The firm had revenue of $4.27 billion during the quarter, compared to analyst estimates of $4.31 billion. AutoZone had a net margin of 12.47% and a negative return on equity of 72.31%. The company's quarterly revenue was up 8.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $28.29 earnings per share.

AZO has been the topic of a number of other reports. Oppenheimer reiterated an "outperform" rating and issued a $4,300.00 price target (up from $4,150.00) on shares of AutoZone in a research report on Tuesday, March 10th. Jefferies Financial Group reiterated a "buy" rating and set a $4,400.00 target price on shares of AutoZone in a research report on Wednesday, December 10th. Weiss Ratings restated a "hold (c+)" rating on shares of AutoZone in a research report on Monday, December 29th. Raymond James Financial dropped their price objective on shares of AutoZone from $4,800.00 to $4,600.00 and set a "strong-buy" rating for the company in a report on Wednesday, December 10th. Finally, Argus upgraded shares of AutoZone from a "hold" rating to a "buy" rating and set a $4,325.00 target price for the company in a research note on Monday, March 9th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $4,312.13.

AutoZone Trading Down 1.4%

Shares of AZO opened at $3,439.82 on Wednesday. The stock has a market cap of $56.99 billion, a PE ratio of 24.10, a PEG ratio of 1.79 and a beta of 0.41. AutoZone has a 1 year low of $3,210.72 and a 1 year high of $4,388.11. The stock has a 50 day simple moving average of $3,657.93 and a 200-day simple moving average of $3,789.13.

Institutional Investors Weigh In On AutoZone

Institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. lifted its holdings in AutoZone by 1.5% in the third quarter. Vanguard Group Inc. now owns 1,797,548 shares of the company's stock valued at $7,711,912,000 after buying an additional 26,544 shares during the period. Laurel Wealth Advisors LLC raised its position in shares of AutoZone by 371,123.0% during the 2nd quarter. Laurel Wealth Advisors LLC now owns 935,482 shares of the company's stock valued at $3,472,724,000 after acquiring an additional 935,230 shares during the last quarter. State Street Corp lifted its stake in shares of AutoZone by 1.6% in the 2nd quarter. State Street Corp now owns 714,091 shares of the company's stock valued at $2,650,870,000 after purchasing an additional 11,088 shares during the period. Morgan Stanley lifted its stake in shares of AutoZone by 17.8% in the 4th quarter. Morgan Stanley now owns 492,794 shares of the company's stock valued at $1,671,323,000 after purchasing an additional 74,555 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its position in shares of AutoZone by 1.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 387,042 shares of the company's stock worth $1,312,654,000 after purchasing an additional 7,390 shares during the last quarter. 92.74% of the stock is owned by institutional investors.

Insider Transactions at AutoZone

In other AutoZone news, Director George R. Mrkonic, Jr. sold 97 shares of the stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $3,341.99, for a total value of $324,173.03. Following the transaction, the director directly owned 3,564 shares in the company, valued at approximately $11,910,852.36. This trade represents a 2.65% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Michael A. George bought 145 shares of the company's stock in a transaction dated Monday, December 22nd. The shares were purchased at an average price of $3,398.13 per share, with a total value of $492,728.85. Following the transaction, the director owned 566 shares of the company's stock, valued at $1,923,341.58. The trade was a 34.44% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have sold a total of 9,447 shares of company stock worth $34,179,923 over the last ninety days. 2.60% of the stock is currently owned by insiders.

AutoZone Company Profile

AutoZone, Inc NYSE: AZO is a retailer and distributor of automotive replacement parts and accessories. Headquartered in Memphis, Tennessee, the company supplies a wide range of aftermarket components, maintenance items and accessories for passenger cars, light trucks and commercial vehicles. Its product assortment includes engine parts, electrical components, batteries, brakes, filters, fluids and interior and exterior accessories, supported by inventory management and logistics systems to serve retail customers and professional service providers.

AutoZone serves both do‑it‑yourself (DIY) consumers and commercial customers such as independent repair shops and service centers.

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