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

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

AutoZone Trading Up 0.8 %

AutoZone stock opened at $3,221.06 on Tuesday. The company has a market capitalization of $54.05 billion, a price-to-earnings ratio of 21.52, a PEG ratio of 1.80 and a beta of 0.71. AutoZone has a 12 month low of $2,658.18 and a 12 month high of $3,416.71. The stock’s 50 day moving average is $3,222.90 and its 200-day moving average is $3,136.66.

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

Analysts Set New Price Targets

Several brokerages have recently weighed in on AZO. Roth Mkm restated a “buy” rating and issued a $3,634.00 price objective on shares of AutoZone in a report on Wednesday, October 16th. DA Davidson restated a “neutral” rating and issued a $3,025.00 price target on shares of AutoZone in a research note on Monday, September 30th. Citigroup upped their price objective on AutoZone from $3,500.00 to $3,900.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. BMO Capital Markets began coverage on shares of AutoZone in a research note on Friday, December 13th. They issued an “outperform” rating and a $3,700.00 target price for the company. Finally, TD Cowen upped their price target on shares of AutoZone from $3,450.00 to $3,800.00 and gave the stock a “buy” rating in a research report on Monday, December 16th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, sixteen have assigned a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $3,429.84.

Hedge Funds Weigh In On AutoZone

A number of hedge funds have recently bought and sold shares of AZO. Dimensional Fund Advisors LP increased its holdings in shares of AutoZone by 18.9% during the second quarter. Dimensional Fund Advisors LP now owns 49,663 shares of the company’s stock worth $147,204,000 after purchasing an additional 7,908 shares during the period. Moors & Cabot Inc. bought a new position in AutoZone during the 2nd quarter worth $282,000. Brighton Jones LLC raised its holdings in AutoZone by 4.1% in the 2nd quarter. Brighton Jones LLC now owns 101 shares of the company’s stock valued at $299,000 after acquiring an additional 4 shares in the last quarter. Ieq Capital LLC lifted its position in shares of AutoZone by 7.2% during the 2nd quarter. Ieq Capital LLC now owns 880 shares of the company’s stock valued at $2,609,000 after acquiring an additional 59 shares during the period. Finally, Benjamin F. Edwards & Company Inc. grew its holdings in shares of AutoZone by 22.1% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 717 shares of the company’s stock worth $2,126,000 after purchasing an additional 130 shares in the last quarter. 92.74% of the stock is owned by institutional investors.

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.