AutoZone, IncNYSE: AZO
Consumer Discretionary · Automotive Retail
$3,059.66
+0.00%
Vol: 874K
Research Digest
Thursday, June 18, 2026
AutoZone's board authorized an additional $1.5 billion share buyback on June 16, lifting total repurchase authorization to $42.2 billion and reinforcing its aggressive capital-return strategy.
On June 16, 2026, AutoZone's Board of Directors authorized an additional $1.5 billion for its ongoing share repurchase program, bringing cumulative authorization since inception to $42.2 billion. The move continues AutoZone's hallmark strategy of using buybacks to shrink share count and drive EPS growth. It follows fiscal Q3 2026 results (quarter ended May 9) showing net sales up 8.4% to $4.8 billion, overall same-store sales up 3.9%, and EPS of $38.07. The fresh authorization signals management confidence in cash flow despite recent margin-pressure concerns. Shares traded around $3,060 on June 17 after touching a daily high near $3,163, reflecting mixed sentiment as buyback support offsets margin and valuation worries. The main risk is that continued heavy buybacks add leverage while same-store sales growth and gross margins face pressure.
Previous Market Intelligence
13 daysJun 17AutoZone's board authorized an additional $1.5B in share repurchases on June 16, extending its long-running buyback program to $42.2B in cumulative authorizations.Positive▶
On June 16, 2026, AutoZone announced its Board of Directors authorized the repurchase of an additional $1.5 billion of common stock, lifting total authorizations since the program's 1998 inception to $42.2 billion. The move reaffirms AutoZone's signature capital-return strategy of aggressively shrinking its share count to drive EPS, which reached $38.07 in fiscal Q3 (12 weeks ended May 9, 2026). It comes just weeks after the stock suffered its worst day in four years following Q3 results, where net sales rose 8.4% to $4.8 billion but missed on the top line as unseasonably cool weather dampened heat-related categories. The buyback signals management confidence and provides a buffer for the shares. The bear case is that the new authorization does not address the underlying demand softness that drove the post-earnings selloff, and continued buybacks at elevated price levels offer less per-dollar EPS accretion.
Jun 16No significant overnight updatesNeutral▶
No material news in the last 48 hours.
Jun 15No significant overnight updatesNeutral▶
No material news in the last 48 hours.
Jun 14No significant overnight updatesNeutral▶
No material news in the last 48 hours.
May 21AutoZone set to release Q3 fiscal 2026 earnings on May 26 (consensus EPS $36.09, revenue $4.86B) as JPMorgan disclosed a 6.8% (1.12M share) stake.Neutral▶
AutoZone will report its fiscal Q3 2026 results before market open on May 26, 2026, with analysts expecting EPS of $36.09 and revenue of $4.86B; a conference call follows at 10:00 a.m. ET. JPMorgan filed a 13G disclosing roughly 1.12M AZO shares, or 6.8% of common stock as of March 31, 2026. The stock has weakened about 7.2% over the past month and closed near $3,431 on May 14, with a median analyst price target of $4,300 and 10 buy ratings versus zero sells. Risks flagged for the upcoming print include higher SG&A from growth investments and weather-related disruption to same-store sales and DIFM traffic. AutoZone ended February with 7,774 stores globally (6,709 US, 913 Mexico, 152 Brazil).
May 20No significant overnight updatesNeutral▶
No material news in the last 48 hours.
May 19AutoZone reports Q3 fiscal 2026 results on May 26; alleged leaked memo points to 40% lubricant supply drop.Mixed▶
AutoZone will release Q3 fiscal 2026 results before market open May 26 with consensus EPS estimate of $36.01. An alleged leaked AutoZone memo cites a 40% drop in lubricant supply tied to the Iran conflict, with auto repair shops reporting tightening motor oil supply. Shares fell 2.76% on May 14 to $3,315.79 on heavy volume. JPMorgan disclosed a 1.12M-share (6.8%) passive stake. Risk: premium valuation and supply uncertainty heading into print; median analyst PT $4,300.
May 18JPMorgan disclosed a 6.8% passive stake (1.12M shares) in AutoZone ahead of Q3 FY26 earnings on May 26.Neutral▶
JPMorgan filed a Schedule 13G in mid-May 2026 disclosing a 6.8% passive stake (1.12 million shares) in AutoZone, signaling significant institutional positioning near record share levels. AutoZone will report Q3 fiscal 2026 results before market open on May 26, 2026, with consensus EPS at $36.01-$36.09 (+2% YoY) and revenue at $4.86B. Shares fell 2.76% to $3,315.79 on May 14 amid premium-valuation concerns (forward P/E 23.5 vs industry 18.9) and mixed analyst price-target moves heading into the print.
May 15AutoZone shares decline 2.76% on May 14 to $3,315.79 on heavy volume ahead of Q3 FY2026 earnings release scheduled for May 26.Mixed▶
AutoZone stock fell 2.76% on May 14, 2026 closing at $3,315.79 on elevated volume, after a 1.35% decline on May 13 to $3,363.72, as investors derisk into the company's third-quarter fiscal 2026 results scheduled for release before market open on Tuesday, May 26 (call at 10:00 a.m. ET). Consensus is for EPS ~$36.09 (+2.06% Y/Y) and net sales of ~$4.86B. As of February 14, 2026, the company operated 7,774 stores (6,709 US, 913 Mexico, 152 Brazil). Zacks rates AZO #3 (Hold) with a forward P/E of 23.48 vs the industry average of 18.92, signaling premium valuation. No major fresh analyst rating changes or M&A actions in the last 48 hours; the Q3 print is the next material catalyst.
May 14AutoZone confirms Q3 fiscal 2026 earnings release for May 26 amid recent share weakness and valuation concernsNeutral▶
AutoZone announced it will release results for its third quarter ended Saturday, May 9, 2026, before market open on Tuesday, May 26, 2026, with a conference call at 10:00 a.m. ET. The stock is trading around $3,366.79 (range $3,302.44-$3,444.80 on May 14) after recent share price weakness raised valuation concerns ahead of the report. The GF Score is 93/100 with talk of slight overvaluation. Analyst consensus among 22 analysts is Strong Buy with a 12-month average price target of $4,306, implying 24.6% upside. Growth drivers cited include expanding Mega-Hub networks, aging U.S. car fleet, and stabilizing consumer purchasing power, with Wall Street projecting double-digit EPS growth for fiscal 2026 and 2027. No material company-specific news in the last 48 hours beyond pre-earnings positioning.
May 13No significant overnight updatesNeutral▶
No material news in the last 48 hours. AutoZone is in pre-earnings quiet period ahead of its Q3 FY2026 release on May 26, 2026.
May 12AutoZone set to release Q3 fiscal 2026 results on May 26 with consensus calling for $36.09 EPS on $4.86B revenueNeutral▶
AutoZone is scheduled to report fiscal Q3 2026 earnings before market open on May 26, 2026 for the quarter ended May 9, with consensus estimates of $36.09 EPS and $4.86B revenue. The company will host a conference call at 10:00 a.m. ET. Wall Street is projecting strong double-digit EPS growth for fiscal 2026 and 2027 driven by expanding Mega-Hub networks, an aging US car fleet and stabilizing consumer purchasing power. Analyst price targets cluster around $4,200 as analysts balance commercial initiative momentum with calls for clearer revenue and margin visibility. Recent shares moved 5.1% on a high GF Score of 93/100 as the earnings date approaches.
May 11AutoZone Q2 sales miss estimates as tariffs squeeze profits despite 8.1% revenue growthMixed▶
AutoZone reported Q2 FY26 net sales of $4.3 billion, up 8.1% year-over-year but slightly below FactSet consensus of $4.31 billion. Domestic same-store sales rose just 0.3% while total same-store sales increased 1.5%. The company opened 53 net new stores globally, bringing total locations to 7,710, and plans aggressive expansion through the remainder of the fiscal year. Profits fell due to elevated tariff-related costs, raising concerns about margin pressure. Shares fell about 7% after the report. Analyst consensus remains Strong Buy with a 12-month price target of $4,306, implying ~24.6% upside.
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Key Fundamentals
RSI (14-Day)
52-Week Range
Moving Averages
Price below 200d MA — bearish structure.