Fintel reports that on September 8, 2023, Evercore ISI Group maintained coverage of Autozone (NYSE:AZO) with a Outperform recommendation.
Analyst Price Forecast Suggests 8.08% Upside
As of August 31, 2023, the average one-year price target for Autozone is 2,830.96. The forecasts range from a low of 2,363.40 to a high of $3,171.00. The average price target represents an increase of 8.08% from its latest reported closing price of 2,619.29.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Autozone is 17,392MM, an increase of 1.62%. The projected annual non-GAAP EPS is 127.12.
What is the Fund Sentiment?
There are 1922 funds or institutions reporting positions in Autozone. This is a decrease of 78 owner(s) or 3.90% in the last quarter. Average portfolio weight of all funds dedicated to AZO is 0.44%, a decrease of 5.93%. Total shares owned by institutions decreased in the last three months by 8.31% to 18,580K shares. 
The put/call ratio of AZO is 1.20, indicating a bearish outlook.
What are Other Shareholders Doing?
Jpmorgan Chase holds 923K shares representing 5.08% ownership of the company. In it's prior filing, the firm reported owning 1,090K shares, representing a decrease of 18.09%. The firm increased its portfolio allocation in AZO by 510.18% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 573K shares representing 3.16% ownership of the company. In it's prior filing, the firm reported owning 581K shares, representing a decrease of 1.33%. The firm decreased its portfolio allocation in AZO by 7.64% over the last quarter.
Fiera Capital holds 550K shares representing 3.03% ownership of the company. In it's prior filing, the firm reported owning 575K shares, representing a decrease of 4.60%. The firm decreased its portfolio allocation in AZO by 8.91% over the last quarter.
VFINX - Vanguard 500 Index Fund Investor Shares holds 438K shares representing 2.41% ownership of the company. In it's prior filing, the firm reported owning 438K shares, representing an increase of 0.03%. The firm decreased its portfolio allocation in AZO by 8.11% over the last quarter.
Boston Partners holds 437K shares representing 2.41% ownership of the company. In it's prior filing, the firm reported owning 525K shares, representing a decrease of 20.05%. The firm increased its portfolio allocation in AZO by 111.73% 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.
Additional reading:
- Officers’ Certificate for the 2026 Notes, pursuant to Section 3.2 of the Indenture, dated July 21, 2023, setting forth the terms of the 2026 Notes
- Officers’ Certificate for the 2033 Notes, pursuant to Section 3.2 of the Indenture, dated July 21, 2023, setting forth the terms of the 2033 Notes
- AutoZone Announces Leadership Transition Plan William C. Rhodes, III, to Transition from Chairman, President and Chief Executive Officer to Executive Chairman Effective January 2024; Philip B. Daniele, III, Executive Vice President of Merchandising,
Fintel is one of the most comprehensive investing research platforms available to individual investors, traders, financial advisors, and small hedge funds.
Our data covers the world, and includes fundamentals, analyst reports, ownership data and fund sentiment, options sentiment, insider trading, options flow, unusual options trades, and much more. Additionally, our exclusive stock picks are powered by advanced, backtested quantitative models for improved profits.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
