Autozone: Citigroup maintains Buy rating, raises PT to $4900 from $3900.

Autozone: Citigroup maintains Buy rating, raises PT to $4900 from $3900.

Citigroup has maintained its "Buy" rating for AutoZone Inc. (AZO) but has significantly raised its price target to $4900, up from $3900 [1]. The financial institution's decision comes amidst a flurry of activity in the automotive retail sector, with institutional investors showing strong interest in the company.

AutoZone, Inc., a leading retailer and distributor of automotive replacement parts and accessories, reported an earnings per share (EPS) of $35.36 for the last quarter, missing analysts' expectations of $37.07 despite a 5.4% increase in revenue year-over-year [2]. Despite this, the stock has seen increased analyst interest, with multiple firms upgrading their ratings and raising their price targets.

Vident Advisory LLC reduced its stake in AutoZone by 30.8% during the first quarter, selling 424 shares and holding 954 shares valued at $3,641,000 [1]. This move came as several other hedge funds and institutional investors increased their stakes in AutoZone. GAMMA Investing LLC raised its position by 435,031.1%, owning 770,182 shares worth $2,936,535,000 [1]. Similarly, Nuveen LLC bought a new stake worth about $442,530,000, and JPMorgan Chase & Co. raised its position by 7.5% [1].

In addition to these institutional moves, insiders have also been active. SVP K. Michelle Borninkhof sold 750 shares, and Chairman William C. Rhodes III sold 27,500 shares [1]. These transactions represent significant decreases in their positions, with Borninkhof's position dropping by 64.88% and Rhodes III's by 76.29% [1].

Analysts have also shown increased optimism about AutoZone's prospects. Evercore ISI, DA Davidson, Roth Capital, Guggenheim, and Wells Fargo & Company have all raised their price targets and given the stock a "Buy" rating [1]. The consensus rating among analysts is "Buy" with an average price target of $4,101.29 [1].

AutoZone's stock has been trading within a one-year range of $2,898.57 to $4,229.68, reflecting a strong interest from institutional investors who own 92.74% of the company's shares [1]. The company's market capitalization stands at $70.57 billion, and its stock has a PE ratio of 28.46, a price-to-earnings-growth ratio of 2.51, and a beta of 0.38 [1].

References:
[1] https://www.marketbeat.com/instant-alerts/filing-vident-advisory-llc-sells-424-shares-of-autozone-inc-azo-2025-08-31/
[2] https://www.marketbeat.com/instant-alerts/filing-landscape-capital-management-llc-grows-stock-position-in-autozone-inc-azo-2025-08-28/