These Analysts Slash Their Forecasts On AutoZone After Downbeat Q1 Results

Core Viewpoint - AutoZone, Inc. reported first-quarter earnings and sales that fell short of Wall Street expectations, with earnings per share at $31.04 and sales at $4.629 billion, both missing analyst estimates [1] Financial Performance - Quarterly earnings per share were $31.04, below the consensus estimate of $32.37 [1] - Quarterly sales reached $4.629 billion, reflecting an 8.2% year-over-year increase, but still fell short of the expected $4.637 billion [1] Strategic Initiatives - The company opened 53 net new stores globally during the quarter and plans to aggressively continue store openings throughout the fiscal year to gain market share, as stated by CEO Phil Daniele [2] Stock Market Reaction - Following the earnings announcement, AutoZone shares increased by 2.8%, trading at $52.99 [2] Analyst Ratings and Price Targets - BMO Capital maintained an Outperform rating, lowering the price target from $4,600 to $4,400 [3] - Guggenheim maintained a Buy rating, cutting the price target from $4,600 to $4,400 [3] - Mizuho maintained an Outperform rating, reducing the price target from $4,050 to $3,850 [3] - Barclays maintained an Overweight rating, lowering the price target from $4,510 to $4,318 [3] - DA Davidson maintained a Buy rating, reducing the price target from $4,850 to $4,500 [3] - UBS maintained a Buy rating, lowering the price target from $4,800 to $4,325 [3]