AutoZone, Inc. (NYSE:AZO) Short Interest Down 6.5% in August

AutoZone, Inc. (NYSE:AZO) saw a large decrease in short interest in the month of August. As of August 31st, there was short interest totalling 427,600 shares, a decrease of 6.5% from the August 15th total of 457,500 shares. Currently, 2.5% of the shares of the stock are short sold. Based on an average trading volume of 118,800 shares, the short-interest ratio is currently 3.6 days.

Wall Street Analyst Weigh In

AZO has been the subject of a number of recent analyst reports. Wedbush reaffirmed an “outperform” rating and set a $3,200.00 price target on shares of AutoZone in a report on Thursday. Guggenheim upped their price target on shares of AutoZone from $3,150.00 to $3,225.00 and gave the stock a “buy” rating in a report on Wednesday, June 26th. Evercore ISI cut their price target on shares of AutoZone from $3,278.00 to $3,275.00 and set an “outperform” rating for the company in a report on Tuesday, July 2nd. Barclays dropped their price objective on shares of AutoZone from $3,100.00 to $3,024.00 and set an “overweight” rating for the company in a research note on Thursday, May 23rd. Finally, StockNews.com raised shares of AutoZone from a “hold” rating to a “buy” rating in a research note on Friday, September 13th. Two analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $3,112.71.

Institutional Investors Weigh In On AutoZone

Several large investors have recently modified their holdings of the company. Rise Advisors LLC acquired a new stake in AutoZone in the first quarter worth $32,000. Riverview Trust Co acquired a new stake in AutoZone in the first quarter worth $41,000. Meeder Asset Management Inc. grew its holdings in AutoZone by 50.0% in the second quarter. Meeder Asset Management Inc. now owns 15 shares of the company’s stock worth $44,000 after purchasing an additional 5 shares during the period. E Fund Management Hong Kong Co. Ltd. bought a new position in shares of AutoZone in the second quarter valued at $50,000. Finally, ORG Partners LLC bought a new position in shares of AutoZone in the second quarter valued at $50,000. 92.74% of the stock is currently owned by institutional investors and hedge funds.

AutoZone Stock Down 1.1 %

AZO opened at $3,040.09 on Friday. AutoZone has a twelve month low of $2,375.35 and a twelve month high of $3,256.37. The company has a fifty day moving average of $3,103.78 and a 200-day moving average of $3,011.83. The stock has a market cap of $51.93 billion, a PE ratio of 21.03, a price-to-earnings-growth ratio of 1.45 and a beta of 0.71.

About AutoZone

AutoZone, Inc retails and distributes automotive replacement parts and accessories in the United States, Mexico, and Brazil. The company provides various products for cars, sport utility vehicles, vans, and light trucks, including new and remanufactured automotive hard parts, maintenance items, accessories, and non-automotive products.