Invariant Investment Management Makes New Investment in AutoZone, Inc. $AZO

Invariant Investment Management purchased a new stake in AutoZone, Inc. (NYSE:AZO – Free Report) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 278 shares of the company’s stock, valued at approximately $776,000. AutoZone comprises approximately 0.5% of Invariant Investment Management’s portfolio, making the stock its 29th largest holding.

Several other large investors also recently bought and sold shares of the stock. Bard Associates Inc. acquired a new stake in shares of AutoZone during the fourth quarter worth about $31,000. Edmond DE Rothschild Holding S.A. acquired a new stake in shares of AutoZone in the 2nd quarter valued at about $29,000. Asset Dedication LLC boosted its position in shares of AutoZone by 150.0% in the 1st quarter. Asset Dedication LLC now owns 10 shares of the company’s stock valued at $34,000 after purchasing an additional 6 shares during the period. Tacita Capital Inc purchased a new position in AutoZone during the 2nd quarter worth approximately $32,000. Finally, Burkett Financial Services LLC purchased a new position in AutoZone during the 3rd quarter worth approximately $31,000. Institutional investors and hedge funds own 92.74% of the company’s stock.

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AutoZone News Roundup

Here are the key news stories impacting AutoZone this week:

• Positive Sentiment: Bernstein upgraded AutoZone to “Strong Buy.” The firm’s average price target is approximately $3,669, implying meaningful potential upside from recent trading levels and providing the clearest positive catalyst for the shares. Bernstein upgrades AutoZone stock to Strong Buy
• Neutral Sentiment: Zacks Research introduced a fiscal 2029 EPS forecast of $220.60. Zacks also raised its Q3 2028 estimate to $46.56, suggesting analysts still expect long-term earnings growth despite weaker near- and medium-term projections.
• Negative Sentiment: Zacks reduced earnings estimates across several periods. Forecasts were cut for Q1 2027 to $34.65 from $37.78, Q2 2027 to $31.45 from $32.61, Q3 2027 to $41.91 from $42.64, and Q4 2027 to $58.15 from $61.70. The FY2027 estimate fell to $166.16 from $174.73.
• Negative Sentiment: Longer-term fiscal 2028 estimates were also lowered. Zacks reduced Q1 2028 EPS to $41.39 from $43.62, Q2 2028 to $39.11 from $40.45, Q4 2028 to $63.01 from $67.59, and FY2028 to $190.08 from $197.32. These revisions point to more cautious expectations for AutoZone’s earnings trajectory.
• Neutral Sentiment: The latest Zacks commentary keeps the focus on upcoming earnings. The current full-year consensus EPS estimate remains $172.12, while investors may weigh the bullish valuation outlook against the downward revisions to future quarterly results. Zacks Research Comments on AutoZone’s Q2 Earnings

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on AZO. Roth Capital reduced their price objective on AutoZone from $4,023.00 to $3,850.00 and set a “buy” rating for the company in a research note on Wednesday, September 23rd. JPMorgan Chase & Co. lowered their target price on shares of AutoZone from $3,850.00 to $3,700.00 and set an “overweight” rating on the stock in a research report on Monday, September 28th. Mizuho decreased their price target on shares of AutoZone from $3,200.00 to $3,000.00 and set a “neutral” rating for the company in a research note on Wednesday, September 23rd. Truist Financial decreased their target price on shares of AutoZone from $3,817.00 to $3,648.00 and set a “buy” rating for the company in a research note on Wednesday, September 23rd. Finally, Raymond James Financial dropped their price target on AutoZone from $4,000.00 to $3,700.00 and set a “strong-buy” rating on the stock in a research report on Wednesday, September 23rd. Two analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $3,669.12.

Check Out Our Latest Report on AZO

Insider Buying and Selling

In related news, VP Dennis LeRiche sold 1,455 shares of the stock in a transaction dated 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 sale, the vice president directly owned 441 shares of the company’s stock, valued at approximately $1,367,100. This represents a 76.74% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 2.60% of the company’s stock.

AutoZone Trading Up 2.3%

Shares of NYSE:AZO traded up $64.35 on Thursday, reaching $2,910.62. 172,435 shares of the company were exchanged, compared to its average volume of 264,784. AutoZone, Inc. has a 1-year low of $2,730.65 and a 1-year high of $4,146.42. The firm has a market cap of $47.53 billion, a price-to-earnings ratio of 19.05, a price-to-earnings-growth ratio of 1.34 and a beta of 0.40. The company has a 50-day moving average of $2,947.19 and a 200-day moving average of $3,146.50.

AutoZone (NYSE:AZO – Get Free Report) last issued its quarterly earnings data on Tuesday, September 22nd. The company reported $56.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.54 by $55.51. The firm had revenue of $6.59 billion during the quarter, compared to analysts’ expectations of $6.70 billion. AutoZone had a negative return on equity of 90.08% and a net margin of 12.65%.AutoZone’s revenue was up 5.6% on a year-over-year basis. During the same period in the previous year, the firm posted $48.71 earnings per share. As a group, analysts forecast that AutoZone, Inc. will post 172.12 earnings per share for the current year.

AutoZone announced that its board has approved a stock repurchase plan on Tuesday, June 16th that allows the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization allows the company to purchase up to 3% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its shares are undervalued.

AutoZone Company Profile

(Free Report)

AutoZone, Inc is a specialty retailer of automotive replacement parts, accessories and maintenance products. The company serves do-it-yourself customers as well as professional automotive repair shops, offering products such as batteries, brakes, filters, engine components, tools, fluids and other vehicle parts.

In addition to its retail stores, AutoZone provides commercial sales and delivery services for professional repair businesses. The company also operates ALLDATA, which offers automotive diagnostic, repair and shop-management software and information services to repair professionals.

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

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