The most recent trading session ended with AutoZone (AZO) standing at $3,609.65, reflecting a -1.16% shift from the previouse trading day's closing. This change lagged the S&P 500's 2.03% gain on the day. Meanwhile, the Dow gained 1.23%, and the Nasdaq, a tech-heavy index, added 2.74%.

The auto parts retailer's shares have seen a decrease of 0.8% over the last month, surpassing the Retail-Wholesale sector's loss of 2.36% and the S&P 500's loss of 5.07%.

Analysts and investors alike will be keeping a close eye on the performance of AutoZone in its upcoming earnings disclosure. The company's earnings per share (EPS) are projected to be $37.07, reflecting a 1.04% increase from the same quarter last year. Our most recent consensus estimate is calling for quarterly revenue of $4.41 billion, up 4.17% from the year-ago period.

For the annual period, the Zacks Consensus Estimates anticipate earnings of $150.14 per share and a revenue of $18.82 billion, signifying shifts of +2.74% and +1.78%, respectively, from the last year.

Investors should also pay attention to any latest changes in analyst estimates for AutoZone. Recent revisions tend to reflect the latest near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.

Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.

The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.07% lower. Right now, AutoZone possesses a Zacks Rank of #4 (Sell).

Investors should also note AutoZone's current valuation metrics, including its Forward P/E ratio of 24.32. This signifies a premium in comparison to the average Forward P/E of 20.31 for its industry.

It's also important to note that AZO currently trades at a PEG ratio of 2.06. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. By the end of yesterday's trading, the Automotive - Retail and Wholesale - Parts industry had an average PEG ratio of 1.57.

The Automotive - Retail and Wholesale - Parts industry is part of the Retail-Wholesale sector. With its current Zacks Industry Rank of 214, this industry ranks in the bottom 14% of all industries, numbering over 250.

The Zacks Industry Rank gauges the strength of our individual 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.

Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

AutoZone, Inc. (AZO) : Free Stock Analysis Report

This article originally published on Zacks Investment Research (zacks.com).

Zacks Investment Research