AutoZone, Inc. (NYSE:AZO) Short Interest Update

AutoZone, Inc. (NYSE:AZO) was the target of a significant increase in short interest in January. As of January 30th, there was short interest totaling 342,974 shares, an increase of 25.8% from the January 15th total of 272,544 shares. Based on an average daily trading volume, of 186,680 shares, the days-to-cover ratio is currently 1.8 days. Approximately 2.1% of the company’s stock are sold short. Approximately 2.1% of the company’s stock are sold short. Based on an average daily trading volume, of 186,680 shares, the days-to-cover ratio is currently 1.8 days.

AutoZone Trading Down 3.0%

Shares of AZO stock opened at $3,741.67 on Wednesday. The company has a market capitalization of $62.00 billion, a P/E ratio of 26.09, a price-to-earnings-growth ratio of 1.84 and a beta of 0.41. The business’s 50 day moving average is $3,545.15 and its two-hundred day moving average is $3,845.32. AutoZone has a twelve month low of $3,210.72 and a twelve month high of $4,388.11.

AutoZone (NYSE:AZO) last issued its quarterly earnings results on Tuesday, December 9th. The company reported $31.04 earnings per share for the quarter, missing the consensus estimate of $32.69 by ($1.65). The company had revenue of $4.63 billion for the quarter, compared to analyst estimates of $4.64 billion. AutoZone had a negative return on equity of 65.38% and a net margin of 12.78%.AutoZone’s revenue for the quarter was up 8.2% compared to the same quarter last year. During the same period in the prior year, the business earned $32.52 earnings per share. As a group, equities analysts predict that AutoZone will post 152.94 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. TD Cowen decreased their price target on AutoZone from $4,900.00 to $4,400.00 and set a “buy” rating for the company in a report on Wednesday, December 10th. Gabelli reissued a “buy” rating on shares of AutoZone in a research report on Thursday, November 6th. DA Davidson decreased their target price on AutoZone from $4,850.00 to $4,500.00 and set a “buy” rating for the company in a research note on Wednesday, December 10th. Zacks Research upgraded shares of AutoZone from a “strong sell” rating to a “hold” rating in a research note on Monday, November 24th. Finally, Guggenheim cut their price objective on shares of AutoZone from $4,600.00 to $4,400.00 and set a “buy” rating on the stock in a report on Wednesday, December 10th. One analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and seven have given a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $4,271.25.

Insider Activity

In other news, Director Michael A. George purchased 145 shares of the firm’s stock in a transaction that occurred on Monday, December 22nd. The stock was bought at an average price of $3,398.13 per share, for a total transaction of $492,728.85. Following the completion of the purchase, the director directly owned 566 shares of the company’s stock, valued at $1,923,341.58. The trade was a 34.44% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director George R. Mrkonic, Jr. sold 97 shares of the stock in a transaction that occurred on Friday, January 2nd. The shares were sold at an average price of $3,341.99, for a total transaction of $324,173.03. Following the completion of the sale, the director directly owned 3,564 shares in the company, valued at approximately $11,910,852.36. This represents a 2.65% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders bought 347 shares of company stock valued at $1,179,256 and sold 9,447 shares valued at $34,179,923. 2.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in AZO. Raleigh Capital Management Inc. purchased a new stake in shares of AutoZone in the 3rd quarter worth about $26,000. Turning Point Benefit Group Inc. acquired a new position in AutoZone during the third quarter worth about $25,000. Global Trust Asset Management LLC lifted its holdings in shares of AutoZone by 600.0% in the third quarter. Global Trust Asset Management LLC now owns 7 shares of the company’s stock valued at $30,000 after purchasing an additional 6 shares in the last quarter. Aspect Partners LLC lifted its holdings in shares of AutoZone by 700.0% in the second quarter. Aspect Partners LLC now owns 8 shares of the company’s stock valued at $30,000 after purchasing an additional 7 shares in the last quarter. Finally, Salomon & Ludwin LLC acquired a new stake in shares of AutoZone in the third quarter valued at approximately $34,000. Hedge funds and other institutional investors own 92.74% of the company’s stock.

About AutoZone

AutoZone, Inc (NYSE: AZO) is a retailer and distributor of automotive replacement parts and accessories. Headquartered in Memphis, Tennessee, the company supplies a wide range of aftermarket components, maintenance items and accessories for passenger cars, light trucks and commercial vehicles. Its product assortment includes engine parts, electrical components, batteries, brakes, filters, fluids and interior and exterior accessories, supported by inventory management and logistics systems to serve retail customers and professional service providers.

AutoZone serves both do‑it‑yourself (DIY) consumers and commercial customers such as independent repair shops and service centers.