AutoZone (AZO) closed at $3,166.93 in the latest trading session, marking a +1.91% move from the prior day. The stock's change was more than the S&P 500's daily gain of 0.39%. Elsewhere, the Dow saw a downswing of 0.13%, while the tech-heavy Nasdaq appreciated by 0.6%.

Coming into today, shares of the auto parts retailer had lost 2.34% in the past month. In that same time, the Retail-Wholesale sector gained 1.99%, while the S&P 500 gained 1.06%.

The investment community will be paying close attention to the earnings performance of AutoZone in its upcoming release. In that report, analysts expect AutoZone to post earnings of $33.60 per share. This would mark year-over-year growth of 3.23%. Simultaneously, our latest consensus estimate expects the revenue to be $4.3 billion, showing a 2.61% escalation compared to the year-ago quarter.

For the annual period, the Zacks Consensus Estimates anticipate earnings of $158.09 per share and a revenue of $18.8 billion, signifying shifts of +8.18% and +1.69%, respectively, from the last year.

Investors might also notice recent changes to analyst estimates for AutoZone. These revisions help to show the ever-changing nature of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.

Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable 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. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. As of now, AutoZone holds a Zacks Rank of #3 (Hold).

In terms of valuation, AutoZone is presently being traded at a Forward P/E ratio of 19.66. This represents a discount compared to its industry's average Forward P/E of 22.9.

Investors should also note that AZO has a PEG ratio of 1.57 right now. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. As of the close of trade yesterday, the Automotive - Retail and Wholesale - Parts industry held an average PEG ratio of 1.58.

The Automotive - Retail and Wholesale - Parts industry is part of the Retail-Wholesale sector. This group has a Zacks Industry Rank of 188, putting it in the bottom 26% of all 250+ industries.