In the latest market close, AutoZone (AZO) reached $3,813.27, with a +0.01% movement compared to the previous day. The stock lagged the S&P 500's daily gain of 0.38%. On the other hand, the Dow registered a loss of 0.03%, and the technology-centric Nasdaq increased by 0.87%.

The the stock of auto parts retailer has risen by 9.63% in the past month, leading the Retail-Wholesale sector's loss of 7.71% and the S&P 500's loss of 5.59%.

Market participants will be closely following the financial results of AutoZone in its upcoming release. The company's earnings per share (EPS) are projected to be $37.07, reflecting a 1.04% increase from the same quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales 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.

It's also important for investors to be aware of any recent modifications to analyst estimates for AutoZone. These latest adjustments often mirror the shifting dynamics of short-term business patterns. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.

The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 1.86% lower within the past month. AutoZone is currently sporting a Zacks Rank of #4 (Sell).

In the context of valuation, AutoZone is at present trading with a Forward P/E ratio of 25.39. This indicates a premium in contrast to its industry's Forward P/E of 20.52.

It is also worth noting that AZO currently has a PEG ratio of 2.16. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Automotive - Retail and Wholesale - Parts was holding an average PEG ratio of 1.73 at yesterday's closing price.

The Automotive - Retail and Wholesale - Parts industry is part of the Retail-Wholesale sector. Currently, this industry holds a Zacks Industry Rank of 187, positioning it in the bottom 25% of all 250+ industries.

The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

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

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

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