Brokerages Set AutoZone, Inc. (NYSE:AZO) Price Target at $3,957.38

AutoZone, Inc. (NYSE:AZO) has earned a consensus recommendation of “Moderate Buy” from the twenty-seven brokerages that are presently covering the firm, Marketbeat.com reports. Six analysts have rated the stock with a hold rating, twenty have given a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $3,946.9583.

A number of research firms have commented on AZO. TD Cowen decreased their price target on AutoZone from $3,700.00 to $3,500.00 and set a “buy” rating on the stock in a research note on Monday, August 31st. Weiss Ratings downgraded AutoZone from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, July 23rd. DA Davidson decreased their target price on AutoZone from $4,300.00 to $3,750.00 and set a “buy” rating on the stock in a research note on Wednesday, May 27th. Robert W. Baird lowered their target price on AutoZone from $3,900.00 to $3,600.00 and set a “neutral” rating for the company in a report on Wednesday, May 27th. Finally, Roth Capital cut their price target on shares of AutoZone from $4,526.00 to $4,023.00 and set a “buy” rating on the stock in a research note on Wednesday, May 27th.

AutoZone News Summary

Here are the key news stories impacting AutoZone this week:

• Positive Sentiment: Analysts still expect AutoZone’s fourth-quarter earnings to grow, with consensus estimates calling for approximately $54.26 in earnings per share and $6.72 billion in revenue. Some top-rated Wall Street forecasters remain bullish despite lowering their targets. Top Wall Street Forecasters Revamp AutoZone Expectations Ahead Of Q4 Earnings
• Positive Sentiment: UBS described fiscal fourth-quarter results as a potential “inflection point” for fiscal 2027 earnings growth, offering a possible catalyst if AutoZone demonstrates improving sales and margins. AutoZone’s Fiscal Q4 Could Mark Inflection Point for Fiscal 2027 Earnings Growth
• Neutral Sentiment: Analyst views are mixed ahead of the earnings report. While the broader analyst stance remains constructive, expectations have become more cautious, increasing the importance of the company’s guidance and comparable-sales performance. Analysts Conflicted on These Consumer Cyclical Names
• Negative Sentiment: UBS warned that AutoZone’s fourth-quarter comparable sales may fall short of Wall Street expectations because of soft demand in the automotive aftermarket. That warning is pressuring the stock ahead of results. AutoZone Fourth-Quarter Comps May Miss Street Views Amid Soft Aftermarket Demand
• Negative Sentiment: Citigroup reduced its AutoZone price target from $3,700 to $3,450, although it retained a Buy rating. The lower target reflects more cautious expectations for the company’s near-term outlook. Citigroup Adjusts Price Target on AutoZone
• Negative Sentiment: A Zacks analysis said AutoZone lacks the combination of factors typically associated with a likely earnings beat, adding to pre-earnings caution despite projected earnings growth. AutoZone Earnings Expected to Grow: Should You Buy?

AutoZone Stock Performance

NYSE:AZO opened at $2,852.97 on Friday. AutoZone has a fifty-two week low of $2,849.04 and a fifty-two week high of $4,332.68. The company has a 50 day moving average price of $3,002.33 and a 200 day moving average price of $3,230.13. The stock has a market capitalization of $46.59 billion, a P/E ratio of 19.61, a PEG ratio of 1.43 and a beta of 0.34.

AutoZone declared that its board has approved a stock buyback plan on Tuesday, June 16th that allows the company to repurchase $1.50 billion in shares. This repurchase authorization allows the company to buy up to 3% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its stock is undervalued.

Insider Buying and Selling at AutoZone

In related news, VP Dennis LeRiche sold 1,455 shares of the company’s stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $3,100.00, for a total transaction of $4,510,500.00. Following the sale, the vice president directly owned 441 shares of the company’s stock, valued at $1,367,100. This represents a 76.74% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On AutoZone

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AZO. BlackRock Inc. purchased a new stake in shares of AutoZone during the second quarter worth $3,938,566,000. Norges Bank purchased a new position in AutoZone in the fourth quarter valued at $939,205,000. First Manhattan CO. LLC. boosted its holdings in AutoZone by 2.7% in the fourth quarter. First Manhattan CO. LLC. now owns 261,314 shares of the company’s stock valued at $886,246,000 after purchasing an additional 6,765 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in AutoZone in the second quarter valued at $572,885,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in AutoZone by 11,577.6% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 141,066 shares of the company’s stock worth $450,838,000 after purchasing an additional 139,858 shares in the last quarter. Hedge funds and other institutional investors own 92.74% of the company’s stock.

AutoZone Company Profile

AutoZone, Inc is a retailer and distributor of automotive replacement parts, accessories, and maintenance products. The company serves do-it-yourself customers, professional service technicians, and commercial repair businesses through its stores, distribution network, and online platform.

Its product offerings include replacement parts such as batteries, brakes, engine components, and ignition products, along with tools, fluids, filters, and other automotive accessories. AutoZone also provides services such as parts lookup, diagnostic assistance, battery testing and charging, and loaner tools for eligible repairs.

Founded in 1979 and headquartered in Memphis, Tennessee, AutoZone operates primarily in the United States, with additional locations in Mexico and Brazil.