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

AutoZone, Inc. (NYSE:AZO) was the target of a significant decrease in short interest in 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. Based on an average daily volume of 118,800 shares, the days-to-cover ratio is currently 3.6 days. Currently, 2.5% of the company’s stock are short sold.

AutoZone Price Performance

Shares of AZO traded up $22.19 during mid-day trading on Wednesday, reaching $3,100.50. 5,628 shares of the company’s stock were exchanged, compared to its average volume of 139,476. The stock has a market capitalization of $52.97 billion, a PE ratio of 21.29, a price-to-earnings-growth ratio of 1.45 and a beta of 0.71. The business’s fifty day simple moving average is $3,096.37 and its 200-day simple moving average is $3,011.19. AutoZone has a 52-week low of $2,375.35 and a 52-week high of $3,256.37.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. StockNews.com upgraded shares of AutoZone from a “hold” rating to a “buy” rating in a research note on Friday, September 13th. Truist Financial cut their target price on shares of AutoZone from $3,523.00 to $3,394.00 and set a “buy” rating on the stock in a research note on Wednesday, May 22nd. UBS Group cut their target price on shares of AutoZone from $3,465.00 to $3,340.00 and set a “buy” rating on the stock in a research note on Wednesday, May 22nd. Morgan Stanley dropped their price target on shares of AutoZone from $3,100.00 to $3,038.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 22nd. Finally, Mizuho dropped their price target on shares of AutoZone from $3,450.00 to $3,280.00 and set a “buy” rating on the stock in a research note on Wednesday, May 22nd. Two analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, AutoZone presently has an average rating of “Moderate Buy” and an average target price of $3,112.71.

Hedge Funds Weigh In On AutoZone

A number of hedge funds have recently modified their holdings of AZO. Rise Advisors LLC acquired a new stake in shares of AutoZone during the first quarter worth $32,000. Riverview Trust Co acquired a new stake in shares of AutoZone during the first quarter worth $41,000. Meeder Asset Management Inc. lifted its holdings in shares of AutoZone by 50.0% during 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. acquired a new stake in shares of AutoZone during the second quarter worth $50,000. Finally, ORG Partners LLC acquired a new stake in shares of AutoZone during the second quarter worth $50,000. 92.74% of the stock is currently owned by hedge funds and other 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.