AutoZone, Inc. (NYSE:AZO) Sees Large Growth in Short Interest

AutoZone, Inc. (NYSE:AZO) was the recipient of a significant growth in short interest during the month of December. As of December 31st, there was short interest totalling 363,400 shares, a growth of 9.0% from the December 15th total of 333,300 shares. Based on an average daily volume of 129,900 shares, the days-to-cover ratio is currently 2.8 days. Approximately 2.2% of the company’s shares are short sold.

AutoZone Trading Up 0.8 %

Shares of AutoZone stock opened at $3,221.06 on Friday. The business’s fifty day simple moving average is $3,222.90 and its 200 day simple moving average is $3,132.76. AutoZone has a 12 month low of $2,658.18 and a 12 month high of $3,416.71. The firm has a market capitalization of $54.05 billion, a P/E ratio of 21.52, a price-to-earnings-growth ratio of 1.80 and a beta of 0.71.

AutoZone (NYSE:AZO) last issued its quarterly earnings data on Tuesday, December 10th. The company reported $32.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $33.69 by ($1.17). AutoZone had a negative return on equity of 53.89% and a net margin of 14.18%. The business had revenue of $4.28 billion during the quarter, compared to analysts’ expectations of $4.30 billion. During the same quarter last year, the business posted $32.55 EPS. The company’s quarterly revenue was up 2.1% on a year-over-year basis. Analysts predict that AutoZone will post 153.09 EPS for the current fiscal year.

Institutional Investors Weigh In On AutoZone

A number of institutional investors and hedge funds have recently made changes to their positions in AZO. Capital Performance Advisors LLP purchased a new stake in AutoZone during the third quarter valued at about $36,000. Carolina Wealth Advisors LLC purchased a new position in shares of AutoZone in the third quarter worth about $47,000. Darwin Wealth Management LLC bought a new stake in shares of AutoZone in the third quarter worth about $47,000. McIlrath & Eck LLC grew its stake in shares of AutoZone by 25.0% in the third quarter. McIlrath & Eck LLC now owns 20 shares of the company’s stock worth $63,000 after purchasing an additional 4 shares during the last quarter. Finally, Ashton Thomas Securities LLC bought a new stake in shares of AutoZone in the third quarter worth about $66,000. Hedge funds and other institutional investors own 92.74% of the company’s stock.

Analyst Ratings Changes

AZO has been the subject of several recent analyst reports. BNP Paribas raised AutoZone to a “strong-buy” rating in a research note on Wednesday, September 25th. TD Cowen raised their target price on AutoZone from $3,450.00 to $3,800.00 and gave the stock a “buy” rating in a research note on Monday, December 16th. Barclays raised their price objective on AutoZone from $3,024.00 to $3,585.00 and gave the company an “overweight” rating in a research note on Thursday, January 9th. BMO Capital Markets began coverage on AutoZone in a research note on Friday, December 13th. They issued an “outperform” rating and a $3,700.00 price objective for the company. Finally, StockNews.com cut AutoZone from a “buy” rating to a “hold” rating in a research note on Saturday, September 21st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, sixteen have issued a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat, AutoZone presently has a consensus rating of “Moderate Buy” and a consensus price target of $3,429.84.

AutoZone Company Profile

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.