AutoZone Inc. stock slips as Wells Fargo cuts price target ahead earnings

Published on 09/11/2026 at 11:58 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

AutoZone Inc. stock trades around USD 2,878 as of September 11, 2026, more than 30 percent below its 52-week high. Wells Fargo now targets USD 3,500 for AutoZone stock, down from USD 4,150, with Q4 earnings due on September 22, 2026.

NYSE-Handelsparkett mit Tradern vor Monitoren, die Einzelhandels-Börsencharts zeigen — AutoZone Inc. ISIN US0533321024 NYSE-Handelsparkett mit Tradern vor großen Einzelhandels-Börsencharts und Kursgrafiken, Illustration mit AI erstellt.

AutoZone Inc. stock (ISIN US0533321024) is trading near USD 2,878 on the New York Stock Exchange as of September 11, 2026, placing the auto parts retailer more than 30 percent below its 52-week high while investors position for its upcoming fiscal fourth-quarter earnings.

Wells Fargo trims AutoZone price target before Q4 report

According to Investing.com on September 10, 2026, Wells Fargo lowered its price target on AutoZone from USD 4,150 to USD 3,500 while maintaining an Overweight rating on the shares, citing earnings concerns and a tougher backdrop for discretionary spending.

The same report notes that AutoZone shares are trading at approximately 17 times earnings, a valuation multiple that is close to a three-year low for the company, and that the stock has fallen about 14 percent year-to-date compared with a roughly 12 percent gain in the S&P 500 index as of September 10, 2026.Investing.com

As The Fly reported on September 10, 2026, Wells Fargo analyst Zachary Fadem expects AutoZone to miss its upcoming quarterly earnings bar, noting that sentiment around the stock has turned more cautious even as the firm continues to rate the shares Overweight.

Earnings on September 22 and consensus expectations

Wells Fargo’s downgrade comes just ahead AutoZone’s next earnings release, with the company scheduled to report fiscal fourth-quarter results on September 22, 2026.Investing.com The upcoming report will cover AutoZone’s fiscal Q4 2026, a period that ends within the last nine months relative to September 11, 2026, and is therefore the key near-term fundamental catalyst for the stock.

A separate earnings-market overview indicates that analyst consensus for AutoZone’s fiscal fourth quarter centers around earnings per share in a range of roughly USD 50.78 to USD 54.98 and revenue between about USD 6.5 billion and USD 6.72 billion for the quarter, highlighting expectations for continued high absolute profit levels despite concerns about slowing growth.Polymarket

For context, AutoZone generated roughly USD 18.9 billion in revenue in fiscal 2025, implying that the expected Q4 2026 revenue range of USD 6.5 billion to USD 6.72 billion would represent close to one-third of the prior year’s annual sales and suggests a solid scale of operations even if the pace of growth moderates.Yahoo Finance

Valuation signals and sector backdrop

Beyond Wells Fargo’s reduced target, valuation-focused analysis also points to AutoZone trading at a discount to some intrinsic value estimates at current levels. On September 10, 2026, GuruFocus highlighted that AutoZone’s GF Value is calculated at USD 3,807.69 per share, compared with a then current price of USD 2,894.14, implying the stock was about 24 percent undervalued according to that metric.

The same GuruFocus commentary notes that analysts have maintained an Overweight stance on AutoZone overall, even as recent price targets have drifted lower, reflecting a cautious view that balances the company’s strong long-term execution against nearer-term earnings risks.GuruFocus

Industry data underscore that the broader retail auto parts segment has struggled in 2026. An industry group ranking overview published on September 10, 2026, points out that the Retail-Autoparts group shows a year-to-date performance of about minus 15 percent, hitting names like AutoZone and signaling sector-wide pressure rather than company-specific weakness alone.CANSLIM Blog

Share price, trading range and upcoming catalysts

Recent trading data show AutoZone stock quoted at USD 2,878.18 on the New York Stock Exchange on September 11, 2026, with the shares down about 1.1 percent on the day in that snapshot and carrying a 12-month low of USD 2,876.25 and a 12-month high of USD 4,388.11, which means the current price sits very close to the low and roughly 34 percent below the high.MarketBeat

On September 10, 2026, a market wrap noted that AutoZone closed about 34.33 percent below its 52-week high of USD 4,388.11, underperforming some competitors on that trading day, and highlighting how far the shares have retreated from their peak even before the next earnings update.MarketWatch

For investors, the immediate catalysts for AutoZone stock now include the September 22, 2026 earnings release for fiscal Q4 2026, potential further commentary from analysts following the results, and any signals about same-store sales trends and margin resilience in the face of softer sector performance. With the shares trading near the bottom of their 12-month range, market participants will be watching closely whether AutoZone’s forthcoming figures and guidance justify the cautious but still positive stance reflected in the current Overweight ratings.

AutoZone stock near 12-month low on NYSE

As of September 11, 2026, AutoZone Inc. stock trades around USD 2,878 on the New York Stock Exchange, close to its 12-month low of USD 2,876.25 and around one-third below the 12-month high of USD 4,388.11, underscoring the share price reset ahead of the fiscal fourth-quarter earnings release later in the month.