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

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

Insider Buying and Selling

In related news, Director Brian Hannasch acquired 147 shares of the firm’s stock in a transaction dated Thursday, December 18th. The shares were purchased at an average price of $3,393.09 per share, for a total transaction of $498,784.23. Following the completion of the acquisition, the director owned 962 shares in the company, valued at approximately $3,264,152.58. This represents a 18.04% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, Director George R. Mrkonic, Jr. sold 97 shares of the stock in a transaction dated Friday, January 2nd. The shares were sold at an average price of $3,341.99, for a total value of $324,173.03. Following the sale, the director owned 3,564 shares of the company’s stock, valued at $11,910,852.36. This represents a 2.65% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have bought 347 shares of company stock worth $1,179,256 and have sold 9,447 shares worth $34,179,923. 2.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On AutoZone

Hedge funds have recently added to or reduced their stakes in the stock. Pittenger & Anderson Inc. boosted its stake in AutoZone by 4.3% in the 2nd quarter. Pittenger & Anderson Inc. now owns 72 shares of the company’s stock worth $267,000 after purchasing an additional 3 shares in the last quarter. Harbour Investments Inc. raised its holdings in AutoZone by 27.3% in the second quarter. Harbour Investments Inc. now owns 14 shares of the company’s stock worth $52,000 after buying an additional 3 shares during the last quarter. May Hill Capital LLC lifted its stake in shares of AutoZone by 5.5% in the second quarter. May Hill Capital LLC now owns 58 shares of the company’s stock worth $215,000 after buying an additional 3 shares in the last quarter. NewSquare Capital LLC lifted its stake in shares of AutoZone by 50.0% in the second quarter. NewSquare Capital LLC now owns 9 shares of the company’s stock worth $33,000 after buying an additional 3 shares in the last quarter. Finally, Westpac Banking Corp grew its holdings in shares of AutoZone by 2.6% during the second quarter. Westpac Banking Corp now owns 118 shares of the company’s stock valued at $438,000 after buying an additional 3 shares during the last quarter. 92.74% of the stock is owned by institutional investors.

AutoZone Trading Down 3.0%

AutoZone stock traded down $116.49 on Tuesday, hitting $3,741.67. 123,224 shares of the stock traded hands, compared to its average volume of 154,139. AutoZone has a 1 year low of $3,210.72 and a 1 year high of $4,388.11. The firm has a market cap of $62.00 billion, a P/E ratio of 26.09, a price-to-earnings-growth ratio of 1.84 and a beta of 0.41. The business’s fifty day simple moving average is $3,545.15 and its 200 day simple moving average is $3,845.32.

AutoZone (NYSE:AZO) last released its earnings results on Tuesday, December 9th. The company reported $31.04 earnings per share for the quarter, missing analysts’ consensus estimates of $32.69 by ($1.65). AutoZone had a negative return on equity of 65.38% and a net margin of 12.78%.The business had revenue of $4.63 billion during the quarter, compared to analysts’ expectations of $4.64 billion. During the same period in the prior year, the company earned $32.52 earnings per share. The firm’s quarterly revenue was up 8.2% compared to the same quarter last year. As a group, analysts predict that AutoZone will post 152.94 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have weighed in on AZO shares. Guggenheim lowered their price objective on AutoZone from $4,600.00 to $4,400.00 and set a “buy” rating for the company in a research report on Wednesday, December 10th. UBS Group reaffirmed a “buy” rating and issued a $4,555.00 target price on shares of AutoZone in a research note on Wednesday, February 4th. BNP Paribas Exane lowered their price target on shares of AutoZone from $4,811.00 to $4,268.00 and set an “outperform” rating for the company in a report on Wednesday, December 10th. Evercore reissued an “outperform” rating and set a $4,100.00 price target on shares of AutoZone in a research report on Wednesday, December 10th. Finally, Gabelli restated a “buy” rating on shares of AutoZone in a research report on Thursday, November 6th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat, AutoZone presently has a consensus rating of “Moderate Buy” and an average target price of $4,271.25.

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.