The Goldman Sachs Group Lowers AutoZone (NYSE:AZO) Price Target to $3,917.00

Key Points

• Goldman Sachs lowered AutoZone’s price target from $4,096 to $3,917 while maintaining a “buy” rating, implying 37.53% upside from the prior close.
• Several analysts also reduced their targets, but sentiment remains broadly positive: AutoZone has a “Moderate Buy” consensus rating and an average price target of $3,717.12.
• AutoZone reported year-over-year revenue growth of 5.6% and quarterly EPS above consensus, although revenue and comparable-store sales fell short of expectations; the company also authorized a $1.5 billion share buyback.

AutoZone (NYSE:AZO - Get Free Report) had its price target cut by investment analysts at The Goldman Sachs Group from $4,096.00 to $3,917.00 in a research report issued to clients and investors on Wednesday. The firm currently has a "buy" rating on the stock. The Goldman Sachs Group's price objective would indicate a potential upside of 37.53% from the stock's previous close.

AZO has been the topic of several other research reports. TD Cowen cut their price target on AutoZone from $3,500.00 to $3,400.00 and set a "buy" rating on the stock in a report on Wednesday. Guggenheim decreased their price objective on shares of AutoZone from $4,000.00 to $3,750.00 and set a "buy" rating for the company in a research report on Wednesday. Mizuho dropped their target price on AutoZone from $3,200.00 to $3,000.00 and set a "neutral" rating on the stock in a report on Wednesday. BMO Capital Markets decreased their price target on AutoZone from $4,000.00 to $3,500.00 and set an "outperform" rating for the company in a report on Wednesday. Finally, Piper Sandler set a $3,500.00 price objective on AutoZone in a research report on Monday, August 31st. One investment analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and six have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $3,717.12.

AutoZone Stock Performance

Shares of AZO opened at $2,848.16 on Wednesday. The company's 50-day simple moving average is $2,984.27 and its 200-day simple moving average is $3,198.67. AutoZone has a 1 year low of $2,764.88 and a 1 year high of $4,332.68. The stock has a market capitalization of $46.50 billion, a PE ratio of 18.64, a P/E/G ratio of 1.45 and a beta of 0.34.

AutoZone (NYSE:AZO - Get Free Report) last announced its earnings results on Tuesday, September 22nd. The company reported $56.05 earnings per share for the quarter, topping the consensus estimate of $0.54 by $55.51. AutoZone had a net margin of 12.65% and a negative return on equity of 90.08%. The firm had revenue of $6.59 billion for the quarter, compared to the consensus estimate of $6.70 billion. During the same period in the prior year, the firm earned $48.71 EPS. The firm's revenue for the quarter was up 5.6% on a year-over-year basis. On average, sell-side analysts predict that AutoZone will post 175.04 earnings per share for the current year.

AutoZone announced that its board has authorized a stock buyback plan on Tuesday, June 16th that permits the company to repurchase $1.50 billion in shares. This repurchase authorization permits the company to purchase up to 3% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company's management believes its shares are undervalued.

Insider Activity at AutoZone

In related news, VP Dennis LeRiche sold 1,455 shares of the company's stock in a transaction on Friday, August 7th. The shares were sold at an average price of $3,100.00, for a total value of $4,510,500.00. Following the completion of the sale, the vice president owned 441 shares in the company, valued at $1,367,100. This represents a 76.74% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.60% of the stock is owned by insiders.

Hedge Funds Weigh In On AutoZone

Several institutional investors have recently added to or reduced their stakes in the stock. QRG Capital Management Inc. grew its stake in shares of AutoZone by 26,077.9% in the 2nd quarter. QRG Capital Management Inc. now owns 49,738 shares of the company's stock valued at $158,960,000 after purchasing an additional 49,548 shares during the last quarter. Envestnet Portfolio Solutions Inc. lifted its holdings in shares of AutoZone by 247,417.8% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 249,993 shares of the company's stock worth $798,963,000 after purchasing an additional 249,892 shares during the period. Cherry Tree Wealth Management LLC grew its position in AutoZone by 47,900.0% in the 2nd quarter. Cherry Tree Wealth Management LLC now owns 1,920 shares of the company's stock valued at $6,136,000 after buying an additional 1,916 shares during the last quarter. SkyView Investment Advisors LLC increased its stake in AutoZone by 11.1% in the 2nd quarter. SkyView Investment Advisors LLC now owns 100 shares of the company's stock valued at $320,000 after buying an additional 10 shares during the period. Finally, Tidal Investments LLC raised its position in AutoZone by 29.6% during the 2nd quarter. Tidal Investments LLC now owns 7,922 shares of the company's stock worth $25,318,000 after buying an additional 1,809 shares during the last quarter. Institutional investors and hedge funds own 92.74% of the company's stock.

Key AutoZone News

Here are the key news stories impacting AutoZone this week:

• Positive Sentiment: Profit beat and margin expansion: Fiscal fourth-quarter diluted EPS reached $56.05, up from $48.71 a year earlier and above consensus estimates. Gross margin expanded to 53.3%, while operating profit rose 10.1% to approximately $1.3 billion. Tariff refunds and a favorable non-cash LIFO comparison provided meaningful support. AutoZone Q4 Earnings Beat Estimates on Tariff Refunds, Sales Miss
• Positive Sentiment: Growth initiatives remain intact: Sales rose 5.6% year over year to $6.59 billion, the company opened 175 stores during the quarter, and fiscal 2026 ended with 8,031 locations. Management said it expects sales growth to accelerate in fiscal 2027 and highlighted market-share gains, particularly in commercial and international operations. AutoZone, Inc. Q4 2026 Earnings Call Summary
• Positive Sentiment: Shareholder returns provided support: AutoZone repurchased about $697.5 million of stock during the quarter, helping boost per-share results and signaling management’s confidence in the business. Several analysts still maintain buy, outperform, or strong-buy ratings, with revised targets above the current share price.
• Neutral Sentiment: Analyst targets were lowered but remain constructive: Roth Capital, DA Davidson, BMO, Mizuho, Raymond James, and Baird reduced their targets following the results. However, most retained positive or neutral ratings, with targets ranging from $3,000 to $3,850. AutoZone Analysts Cut Their Forecasts After Q4 Results
• Negative Sentiment: Revenue and comparable-store trends disappointed: Quarterly revenue fell short of the roughly $6.7 billion consensus estimate. Same-store sales increased 2.7% reported, but only 1.5% on a constant-currency basis, while domestic comps rose 1.6%, indicating continued softness in the DIY business.
• Negative Sentiment: Some earnings growth was one-time or potentially temporary: Investors may question how much of the margin and EPS improvement can be sustained after tariff refunds and favorable accounting comparisons fade.

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.

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