AutoZone (AZO) closed the latest trading day at $3,060.89, indicating a -1.45% change from the previous session's end. The stock fell short of the S&P 500, which registered a gain of 0.16% for the day. Elsewhere, the Dow saw a downswing of 0.37%, while the tech-heavy Nasdaq appreciated by 0.78%.

Coming into today, shares of the auto parts retailer had lost 1.4% in the past month. In that same time, the Retail-Wholesale sector lost 0.07%, while the S&P 500 gained 1.67%.

The investment community will be closely monitoring the performance of AutoZone in its forthcoming earnings report. The company is predicted to post an EPS of $33.60, indicating a 3.23% growth compared to the equivalent quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $4.3 billion, up 2.61% from the year-ago period.

AZO's full-year Zacks Consensus Estimates are calling for earnings of $158.09 per share and revenue of $18.8 billion. These results would represent year-over-year changes of +8.18% and +1.69%, respectively.

Investors should also pay attention to any latest changes in analyst estimates for AutoZone. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.

The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.1% downward. As of now, AutoZone holds a Zacks Rank of #3 (Hold).

Investors should also note AutoZone's current valuation metrics, including its Forward P/E ratio of 19.65. This signifies a discount in comparison to the average Forward P/E of 22.27 for its industry.

Meanwhile, AZO's PEG ratio is currently 1.57. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Automotive - Retail and Wholesale - Parts industry currently had an average PEG ratio of 1.54 as of yesterday's close.

The Automotive - Retail and Wholesale - Parts industry is part of the Retail-Wholesale sector. This industry currently has a Zacks Industry Rank of 207, which puts it in the bottom 18% of all 250+ industries.