Zacks Research Has Positive Outlook for AutoZone Q4 Earnings

Key Points

• Zacks Research raised its Q4 2026 EPS estimate for AutoZone to $54.63 from $53.85, reflecting a more positive near-term earnings outlook. The firm also nudged its FY2026 estimate slightly above consensus at $151.37 per share.
• AutoZone’s recent quarterly results were solid, with EPS of $38.07 beating estimates by $1.85, though revenue came in just below expectations at $4.84 billion. Revenue still grew 8.4% year over year, showing continued business momentum.
• The company authorized a $1.5 billion share buyback, which can signal management believes the stock is undervalued. Other analysts remain broadly constructive, with the stock carrying a consensus “Moderate Buy” rating and an average target price of $4,040.87.

AutoZone, Inc. (NYSE:AZO - Free Report) - Research analysts at Zacks Research raised their Q4 2026 earnings per share estimates for shares of AutoZone in a research note issued to investors on Wednesday, June 17th. Zacks Research analyst Team now anticipates that the company will post earnings per share of $54.63 for the quarter, up from their previous estimate of $53.85. The consensus estimate for AutoZone's current full-year earnings is $150.51 per share. Zacks Research also issued estimates for AutoZone's Q3 2027 earnings at $42.64 EPS, Q4 2027 earnings at $61.70 EPS, FY2027 earnings at $174.73 EPS, Q1 2028 earnings at $43.62 EPS, Q2 2028 earnings at $40.45 EPS, Q3 2028 earnings at $45.66 EPS and FY2028 earnings at $197.32 EPS.

AutoZone (NYSE:AZO - Get Free Report) last released its quarterly earnings results on Tuesday, May 26th. The company reported $38.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $36.22 by $1.85. AutoZone had a negative return on equity of 80.35% and a net margin of 12.40%.The business had revenue of $4.84 billion during the quarter, compared to the consensus estimate of $4.86 billion. During the same period in the previous year, the company posted $35.36 EPS. The firm's quarterly revenue was up 8.4% on a year-over-year basis.

Several other research firms also recently commented on AZO. Argus upgraded shares of AutoZone from a "hold" rating to a "buy" rating and set a $4,325.00 price target on the stock in a research note on Monday, March 9th. Truist Financial set a $3,700.00 price objective on shares of AutoZone in a research note on Wednesday, May 27th. JPMorgan Chase & Co. cut their price objective on shares of AutoZone from $4,300.00 to $3,850.00 and set an "overweight" rating for the company in a report on Wednesday, May 27th. Jefferies Financial Group decreased their target price on shares of AutoZone from $4,400.00 to $4,000.00 and set a "buy" rating on the stock in a research report on Wednesday, May 27th. Finally, Robert W. Baird lowered their target price on shares of AutoZone from $3,900.00 to $3,600.00 and set a "neutral" rating on the stock in a report on Wednesday, May 27th. One investment analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $4,040.87.

AutoZone Price Performance

AZO stock opened at $3,064.22 on Friday. AutoZone has a fifty-two week low of $2,928.11 and a fifty-two week high of $4,388.11. The stock has a market capitalization of $50.04 billion, a price-to-earnings ratio of 21.07, a PEG ratio of 1.55 and a beta of 0.35. The business's fifty day moving average price is $3,341.84 and its two-hundred day moving average price is $3,487.41.

AutoZone announced that its board has authorized a stock repurchase plan on Tuesday, June 16th that allows the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization allows the company to purchase up to 3% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company's leadership believes its stock is undervalued.

Insider Transactions at AutoZone

In other news, Director Brian Hannasch bought 165 shares of the company's stock in a transaction dated Friday, May 29th. The stock was bought at an average cost of $2,987.00 per share, for a total transaction of $492,855.00. Following the transaction, the director owned 1,219 shares of the company's stock, valued at $3,641,153. This represents a 15.65% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Earl G. Graves, Jr. sold 50 shares of the company's stock in a transaction that occurred on Friday, April 10th. The stock was sold at an average price of $3,478.72, for a total transaction of $173,936.00. Following the sale, the director directly owned 4,837 shares of the company's stock, valued at approximately $16,826,568.64. This trade represents a 1.02% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 2.60% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in AZO. Norges Bank acquired a new stake in shares of AutoZone in the 4th quarter valued at $939,205,000. Morgan Stanley raised its holdings in shares of AutoZone by 17.8% during the 4th quarter. Morgan Stanley now owns 492,794 shares of the company's stock worth $1,671,323,000 after buying an additional 74,555 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in shares of AutoZone by 387.1% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 77,792 shares of the company's stock worth $263,832,000 after buying an additional 61,821 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of AutoZone by 39.5% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 176,986 shares of the company's stock worth $584,730,000 after buying an additional 50,071 shares during the last quarter. Finally, AQR Capital Management LLC lifted its position in shares of AutoZone by 80.8% during the 3rd quarter. AQR Capital Management LLC now owns 101,185 shares of the company's stock worth $432,059,000 after buying an additional 45,212 shares during the last quarter. 92.74% of the stock is currently owned by institutional investors and hedge funds.

AutoZone News Summary

Here are the key news stories impacting AutoZone this week:

• Positive Sentiment: Zacks Research lifted FY2026 EPS to $151.37 from $150.59, slightly above the current consensus of $150.51, signaling stronger-than-expected profitability.
• Positive Sentiment: The firm also raised FY2027 EPS to $174.73, FY2028 EPS to $197.32, and increased quarterly estimates for Q1, Q3, and Q4 2027 as well as Q1, Q2, and Q3 2028, reinforcing a positive long-term earnings trend.
• Neutral Sentiment: A separate note from June 17 trimmed Q2 2027 EPS slightly to $32.61 from $32.78, but the change was small and was more than offset by multiple upward revisions in other periods.
• Neutral Sentiment: AutoZone recently reported quarterly EPS of $38.07, beating estimates, while revenue was slightly below consensus; this mixed but generally solid report continues to frame investor expectations.

About AutoZone

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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