AutoZone, Inc. (NYSE:AZO) Short Interest Update

AutoZone, Inc. (NYSE:AZO) was the recipient of a large growth in short interest in the month of September. As of September 30th, there was short interest totalling 465,500 shares, a growth of 6.7% from the September 15th total of 436,200 shares. Based on an average daily trading volume, of 119,100 shares, the days-to-cover ratio is presently 3.9 days. Approximately 2.7% of the company’s shares are sold short.

Wall Street Analysts Forecast Growth

AZO has been the subject of a number of research reports. Mizuho lifted their target price on shares of AutoZone from $3,280.00 to $3,350.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 25th. Truist Financial increased their price target on AutoZone from $3,341.00 to $3,501.00 and gave the company a “buy” rating in a report on Monday. Morgan Stanley increased their price target on AutoZone from $3,038.00 to $3,125.00 and gave the company an “overweight” rating in a report on Wednesday, September 25th. Wedbush restated an “outperform” rating and set a $3,200.00 price objective on shares of AutoZone in a research note on Thursday, September 19th. Finally, StockNews.com cut shares of AutoZone from a “buy” rating to a “hold” rating in a report on Saturday, September 21st. One investment analyst has rated the stock with a sell rating, three have given a hold rating, fourteen have assigned a buy rating and four have issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $3,202.71.

AutoZone Stock Performance

AutoZone stock traded up $12.55 during trading hours on Thursday, hitting $3,141.19. 43,536 shares of the stock were exchanged, compared to its average volume of 140,017. The stock has a market capitalization of $53.66 billion, a P/E ratio of 21.52, a P/E/G ratio of 1.59 and a beta of 0.70. The business’s 50-day moving average is $3,131.84 and its two-hundred day moving average is $3,007.34. AutoZone has a 12 month low of $2,375.35 and a 12 month high of $3,256.37.

AutoZone (NYSE:AZO) last issued its quarterly earnings data on Tuesday, September 24th. The company reported $48.11 EPS for the quarter, missing analysts’ consensus estimates of $53.31 by ($5.20). AutoZone had a negative return on equity of 52.99% and a net margin of 14.40%. The company had revenue of $6.21 billion for the quarter, compared to the consensus estimate of $6.25 billion. During the same period in the prior year, the company earned $46.46 EPS. The firm’s revenue was up 9.0% compared to the same quarter last year. On average, equities analysts predict that AutoZone will post 157.99 earnings per share for the current fiscal year.

Insider Activity at AutoZone

In other news, Chairman William C. Rhodes III sold 13,000 shares of the stock in a transaction on Thursday, October 10th. The stock was sold at an average price of $3,107.15, for a total value of $40,392,950.00. Following the sale, the chairman now directly owns 13,857 shares in the company, valued at approximately $43,055,777.55. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, VP John Scott Murphy sold 1,580 shares of the firm’s stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $3,107.69, for a total transaction of $4,910,150.20. Following the transaction, the vice president now owns 1,218 shares of the company’s stock, valued at $3,785,166.42. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Chairman William C. Rhodes III sold 13,000 shares of the business’s stock in a transaction dated Thursday, October 10th. The stock was sold at an average price of $3,107.15, for a total transaction of $40,392,950.00. Following the transaction, the chairman now owns 13,857 shares in the company, valued at approximately $43,055,777.55. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 14,880 shares of company stock worth $46,225,660. 2.50% of the stock is currently owned by company insiders.

Institutional Trading of AutoZone

Hedge funds and other institutional investors have recently modified their holdings of the stock. PineStone Asset Management Inc. increased its stake in shares of AutoZone by 137.6% in the 2nd quarter. PineStone Asset Management Inc. now owns 310,043 shares of the company’s stock valued at $918,998,000 after buying an additional 179,543 shares during the period. Strategic Financial Concepts LLC acquired a new stake in AutoZone in the second quarter worth about $424,000. Captrust Financial Advisors raised its holdings in AutoZone by 564.2% during the 1st quarter. Captrust Financial Advisors now owns 152,091 shares of the company’s stock worth $479,338,000 after purchasing an additional 129,193 shares during the last quarter. Baillie Gifford & Co. lifted its position in AutoZone by 2,714.8% during the 2nd quarter. Baillie Gifford & Co. now owns 120,194 shares of the company’s stock valued at $356,267,000 after purchasing an additional 115,924 shares during the period. Finally, Bessemer Group Inc. boosted its stake in shares of AutoZone by 106.7% in the 1st quarter. Bessemer Group Inc. now owns 117,891 shares of the company’s stock valued at $371,552,000 after purchasing an additional 60,852 shares during the last quarter. Institutional investors and hedge funds own 92.74% of the company’s stock.

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.