Goldman Sachs Maintains AutoZone Buy Recommendation

Fintel reports that on May 24, 2023, Goldman Sachs maintained coverage of Autozone (NYSE:AZO) with a Buy recommendation.

Analyst Price Forecast Suggests 12.95% Upside

As of May 11, 2023, the average one-year price target for Autozone is 2,782.51. The forecasts range from a low of 1,908.90 to a high of $3,043.95. The average price target represents an increase of 12.95% from its latest reported closing price of 2,463.41.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Autozone is 17,392MM, an increase of 2.97%. The projected annual non-GAAP EPS is 127.12.

What is the Fund Sentiment?

There are 1996 funds or institutions reporting positions in Autozone. This is a decrease of 13 owner(s) or 0.65% in the last quarter. Average portfolio weight of all funds dedicated to AZO is 0.48%, a decrease of 4.40%. Total shares owned by institutions increased in the last three months by 4.32% to 20,321K shares. The put/call ratio of AZO is 1.33, indicating a bearish outlook.

What are Other Shareholders Doing?

Envestnet Asset Management holds 1,393K shares representing 7.57% ownership of the company. In it’s prior filing, the firm reported owning 27K shares, representing an increase of 98.05%. The firm decreased its portfolio allocation in AZO by 19.12% over the last quarter.

Jpmorgan Chase holds 1,090K shares representing 5.92% ownership of the company. In it’s prior filing, the firm reported owning 1,204K shares, representing a decrease of 10.48%. The firm decreased its portfolio allocation in AZO by 89.53% over the last quarter.

VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 577K shares representing 3.14% ownership of the company. In it’s prior filing, the firm reported owning 581K shares, representing a decrease of 0.73%. The firm increased its portfolio allocation in AZO by 5.56% over the last quarter.

Fiera Capital holds 575K shares representing 3.13% ownership of the company. In it’s prior filing, the firm reported owning 579K shares, representing a decrease of 0.57%. The firm decreased its portfolio allocation in AZO by 4.79% over the last quarter.

Boston Partners holds 525K shares representing 2.85% ownership of the company. In it’s prior filing, the firm reported owning 529K shares, representing a decrease of 0.80%. The firm decreased its portfolio allocation in AZO by 60.77% over the last quarter.

Autozone Background Information
(This description is provided by the company.)

AutoZone is the leading retailer and a leading distributor of automotive replacement parts and accessories in the Americas. Each AutoZone store carries an extensive product line for cars, sport utility vehicles, vans and light trucks, including new and remanufactured automotive hard parts, maintenance items, accessories, and non-automotive products. Many stores also have a commercial sales program that provides commercial credit and prompt delivery of parts and other products to local, regional and national repair garages, dealers, service stations and public sector accounts.

Key filings for this company:

• UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K

This article originally appeared on Fintel