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

AutoZone, Inc. (NYSE:AZO) saw a significant drop in short interest during the month of August. As of August 31st, there was short interest totalling 427,600 shares, a drop 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 presently 3.6 days. Currently, 2.5% of the shares of the company are short sold.

AutoZone Price Performance

AZO opened at $3,074.71 on Thursday. The business has a 50 day simple moving average of $3,100.68 and a 200-day simple moving average of $3,011.63. AutoZone has a 12 month low of $2,375.35 and a 12 month high of $3,256.37. The stock has a market capitalization of $52.53 billion, a P/E ratio of 21.27, a P/E/G ratio of 1.45 and a beta of 0.71.

Institutional Investors Weigh In On AutoZone

Institutional investors have recently made changes to their positions in the stock. PineStone Asset Management Inc. lifted its stake in shares of AutoZone by 137.6% in the second quarter. PineStone Asset Management Inc. now owns 310,043 shares of the company’s stock valued at $918,998,000 after purchasing an additional 179,543 shares during the period. Strategic Financial Concepts LLC acquired a new stake in shares of AutoZone during the 2nd quarter valued at approximately $424,000. Captrust Financial Advisors boosted its stake in shares of 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 acquiring an additional 129,193 shares in the last quarter. Baillie Gifford & Co. increased its stake in AutoZone by 2,714.8% in 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 in the last quarter. Finally, Bessemer Group Inc. raised its holdings in AutoZone by 106.7% during the first quarter. Bessemer Group Inc. now owns 117,891 shares of the company’s stock worth $371,552,000 after purchasing an additional 60,852 shares during the last quarter. 92.74% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Evercore ISI reduced their target price on AutoZone from $3,278.00 to $3,275.00 and set an “outperform” rating for the company in a report on Tuesday, July 2nd. Morgan Stanley lowered their target price on shares of AutoZone from $3,100.00 to $3,038.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 22nd. Citigroup cut their target price on shares of AutoZone from $3,420.00 to $3,250.00 and set a “buy” rating on the stock in a report on Wednesday, May 22nd. UBS Group decreased their price target on shares of AutoZone from $3,465.00 to $3,340.00 and set a “buy” rating for the company in a research note on Wednesday, May 22nd. Finally, Barclays dropped their price objective on shares of AutoZone from $3,100.00 to $3,024.00 and set an “overweight” rating on the stock in a research note on Thursday, May 23rd. Two equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $3,112.71.

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.