AutoZone, Inc. (NYSE:AZO) Short Interest Up 25.8% in January

AutoZone, Inc. (NYSE:AZO) saw a large growth in short interest in the month of January. As of January 30th, there was short interest totaling 342,974 shares, a growth of 25.8% from the January 15th total of 272,544 shares. Based on an average trading volume of 186,680 shares, the days-to-cover ratio is presently 1.8 days. Approximately 2.1% of the shares of the company are sold short. Approximately 2.1% of the shares of the company are sold short. Based on an average trading volume of 186,680 shares, the days-to-cover ratio is presently 1.8 days.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. Gabelli reiterated a “buy” rating on shares of AutoZone in a research note on Thursday, November 6th. Oppenheimer reduced their price objective on AutoZone from $4,600.00 to $4,150.00 and set an “outperform” rating for the company in a report on Friday, January 9th. Evercore reiterated an “outperform” rating and set a $4,100.00 target price on shares of AutoZone in a research note on Wednesday, December 10th. TD Cowen reduced their price target on AutoZone from $4,900.00 to $4,400.00 and set a “buy” rating for the company in a research note on Wednesday, December 10th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and issued a $4,400.00 price objective on shares of AutoZone in a report on Wednesday, December 10th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $4,271.25.

AutoZone Price Performance

AutoZone stock traded up $61.86 during mid-day trading on Monday, reaching $3,850.57. 106,308 shares of the company were exchanged, compared to its average volume of 154,139. The firm has a market cap of $63.80 billion, a PE ratio of 26.85, a PEG ratio of 1.84 and a beta of 0.41. The company has a fifty day simple moving average of $3,538.96 and a 200-day simple moving average of $3,845.52. AutoZone has a 12 month low of $3,210.72 and a 12 month high of $4,388.11.

AutoZone (NYSE:AZO) last released its earnings results on Tuesday, December 9th. The company reported $31.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $32.69 by ($1.65). AutoZone had a negative return on equity of 65.38% and a net margin of 12.78%.The company had revenue of $4.63 billion for the quarter, compared to analyst estimates of $4.64 billion. During the same period last year, the company posted $32.52 earnings per share. The business’s revenue for the quarter was up 8.2% compared to the same quarter last year. Sell-side analysts anticipate that AutoZone will post 152.94 earnings per share for the current year.

Insider Buying and Selling at AutoZone

In other AutoZone news, Director Michael A. George bought 145 shares of the firm’s stock in a transaction that occurred on Monday, December 22nd. The shares were acquired at an average cost of $3,398.13 per share, with a total value of $492,728.85. Following the acquisition, the director owned 566 shares of the company’s stock, valued at $1,923,341.58. The trade was a 34.44% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Earl G. Graves, Jr. sold 250 shares of the firm’s stock in a transaction on Friday, January 2nd. The shares were sold at an average price of $3,295.00, for a total value of $823,750.00. Following the sale, the director directly owned 4,887 shares of the company’s stock, valued at $16,102,665. This represents a 4.87% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders acquired 347 shares of company stock worth $1,179,256 and sold 9,447 shares worth $34,179,923. 2.60% of the stock is owned by insiders.

Hedge Funds Weigh In On AutoZone

Several hedge funds have recently bought and sold shares of the company. Turning Point Benefit Group Inc. acquired a new stake in shares of AutoZone during the 3rd quarter worth approximately $25,000. Raleigh Capital Management Inc. bought a new stake in AutoZone during the third quarter worth $26,000. Torren Management LLC bought a new stake in AutoZone during the fourth quarter worth $27,000. Transamerica Financial Advisors LLC boosted its holdings in shares of AutoZone by 100.0% in the 4th quarter. Transamerica Financial Advisors LLC now owns 8 shares of the company’s stock valued at $28,000 after purchasing an additional 4 shares in the last quarter. Finally, Aspect Partners LLC increased its stake in shares of AutoZone by 700.0% in the 2nd quarter. Aspect Partners LLC now owns 8 shares of the company’s stock valued at $30,000 after purchasing an additional 7 shares during the last quarter. 92.74% of the stock is owned by institutional investors.

About AutoZone

AutoZone, Inc (NYSE: AZO) is a retailer and distributor of automotive replacement parts and accessories. Headquartered in Memphis, Tennessee, the company supplies a wide range of aftermarket components, maintenance items and accessories for passenger cars, light trucks and commercial vehicles. Its product assortment includes engine parts, electrical components, batteries, brakes, filters, fluids and interior and exterior accessories, supported by inventory management and logistics systems to serve retail customers and professional service providers.

AutoZone serves both do‑it‑yourself (DIY) consumers and commercial customers such as independent repair shops and service centers.