10:30 AM EDT, 09/19/2024 (MT Newswires) -- AutoZone ( AZO ) is expected to see another tough quarter when it reports fiscal Q4 results on Tuesday as its comparable store sales are likely to slide below all peers' reported comps, Wedbush said in a note Thursday.

During the first half of fiscal Q4, weather was "favorable" but comps likely vanished in the second half as AutoZone's ( AZO ) "core low-income consumer cut back on nonessential purchases based on read-through from peers and the dollar stores," Wedbush analysts led by Seth Basham wrote.

Despite a year-over-year fall in gas prices, the company's DIY business is anticipated to see comps decline of 1% in the quarter, the analysts said.

Additionally, there is rising risk from price competition from the likes of Advance Auto Parts (AAP), Walmart (WMT), and eBay (EBAY), the analysts wrote.

Wedbush expects AutoZone ( AZO ) to report fiscal Q4 earnings of $52.64 per share and revenue of $6.17 billion.

Wedbush maintained its outperform rating on AutoZone's ( AZO ) stock, with a $3,200 price target.

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