Short Interest in AutoZone, Inc. (NYSE:AZO) Rises By 12.6%

AutoZone, Inc. (NYSE:AZO) was the recipient of a significant growth in short interest during the month of August. As of August 15th, there was short interest totalling 457,500 shares, a growth of 12.6% from the July 31st total of 406,400 shares. Currently, 2.7% of the company’s stock are sold short. Based on an average trading volume of 126,700 shares, the days-to-cover ratio is presently 3.6 days.

Hedge Funds Weigh In On AutoZone

Several large investors have recently bought and sold shares of the stock. Summit Trail Advisors LLC raised its stake in AutoZone by 3.8% during the 4th quarter. Summit Trail Advisors LLC now owns 110 shares of the company’s stock valued at $283,000 after purchasing an additional 4 shares during the last quarter. Guardian Capital LP raised its stake in AutoZone by 1.3% during the 4th quarter. Guardian Capital LP now owns 301 shares of the company’s stock valued at $778,000 after purchasing an additional 4 shares during the last quarter. Quent Capital LLC raised its stake in AutoZone by 4.8% during the 1st quarter. Quent Capital LLC now owns 88 shares of the company’s stock valued at $277,000 after purchasing an additional 4 shares during the last quarter. Mather Group LLC. raised its stake in AutoZone by 1.8% during the 2nd quarter. Mather Group LLC. now owns 224 shares of the company’s stock valued at $706,000 after purchasing an additional 4 shares during the last quarter. Finally, Conning Inc. raised its stake in AutoZone by 4.3% during the 2nd quarter. Conning Inc. now owns 98 shares of the company’s stock valued at $290,000 after purchasing an additional 4 shares during the last quarter. 92.74% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have issued reports on AZO shares. Evercore ISI reduced their target price on shares of AutoZone from $3,278.00 to $3,275.00 and set an “outperform” rating for the company in a research note on Tuesday, July 2nd. Citigroup reduced their target price on shares of AutoZone from $3,420.00 to $3,250.00 and set a “buy” rating for the company in a research note on Wednesday, May 22nd. Barclays reduced their target price 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. UBS Group reduced their target price on shares of AutoZone from $3,465.00 to $3,340.00 and set a “buy” rating for the company in a research note on Wednesday, May 22nd. Finally, Wolfe Research reduced their target price on shares of AutoZone from $3,150.00 to $3,000.00 and set an “outperform” rating for the company in a research note on Wednesday, May 22nd. Three analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, AutoZone currently has a consensus rating of “Moderate Buy” and an average price target of $3,112.71.

AutoZone Trading Down 0.7 %

Shares of AutoZone stock opened at $3,181.48 on Friday. The stock has a market capitalization of $54.35 billion, a price-to-earnings ratio of 22.00, a PEG ratio of 1.58 and a beta of 0.71. AutoZone has a 1-year low of $2,375.35 and a 1-year high of $3,256.37. The firm has a fifty day simple moving average of $3,039.52 and a 200-day simple moving average of $2,982.41.

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.