AutoZone, Inc. (NYSE:AZO) Short Interest Down 20.0% in October

AutoZone, Inc. (NYSE:AZO) saw a significant decrease in short interest in October. As of October 31st, there was short interest totalling 340,000 shares, a decrease of 20.0% from the October 15th total of 425,100 shares. Approximately 2.0% of the shares of the stock are short sold. Based on an average daily volume of 121,200 shares, the short-interest ratio is currently 2.8 days.

Insider Transactions at AutoZone

In related news, VP John Scott Murphy sold 1,580 shares of the firm’s stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $3,107.69, for a total value of $4,910,150.20. Following the completion of the transaction, the vice president now owns 1,218 shares of the company’s stock, valued at approximately $3,785,166.42. This trade represents a 56.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman William C. Rhodes III sold 300 shares of the stock in a transaction on Thursday, October 3rd. The shares were sold at an average price of $3,075.20, for a total transaction of $922,560.00. Following the completion of the sale, the chairman now owns 13,857 shares of the company’s stock, valued at approximately $42,613,046.40. This represents a 2.12 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 14,880 shares of company stock worth $46,225,660. Corporate insiders own 2.10% of the company’s stock.

Institutional Trading of AutoZone

Institutional investors and hedge funds have recently made changes to their positions in the company. Mather Group LLC. grew its stake in AutoZone by 1.8% during the 2nd quarter. Mather Group LLC. now owns 224 shares of the company’s stock worth $706,000 after buying an additional 4 shares during the last quarter. Conning Inc. grew its stake in AutoZone by 4.3% during the 2nd quarter. Conning Inc. now owns 98 shares of the company’s stock worth $290,000 after buying an additional 4 shares during the last quarter. Whittier Trust Co. of Nevada Inc. grew its stake in AutoZone by 14.3% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 32 shares of the company’s stock worth $95,000 after buying an additional 4 shares during the last quarter. Brighton Jones LLC grew its stake in AutoZone by 4.1% during the 2nd quarter. Brighton Jones LLC now owns 101 shares of the company’s stock worth $299,000 after buying an additional 4 shares during the last quarter. Finally, Fidelis Capital Partners LLC grew its stake in AutoZone by 2.6% during the 2nd quarter. Fidelis Capital Partners LLC now owns 159 shares of the company’s stock worth $490,000 after buying an additional 4 shares during the last quarter. Hedge funds and other institutional investors own 92.74% of the company’s stock.

AutoZone Stock Performance

Shares of AutoZone stock traded down $28.53 during trading hours on Friday, reaching $3,107.53. The company’s stock had a trading volume of 113,683 shares, compared to its average volume of 138,679. AutoZone has a one year low of $2,510.00 and a one year high of $3,256.37. The company has a market capitalization of $52.52 billion, a P/E ratio of 20.95, a P/E/G ratio of 1.60 and a beta of 0.71. The stock’s fifty day simple moving average is $3,112.53 and its two-hundred day simple moving average is $3,023.33.

AutoZone (NYSE:AZO) last released its quarterly earnings data on Tuesday, September 24th. The company reported $48.11 earnings per share for the quarter, missing analysts’ consensus estimates of $53.31 by ($5.20). The business had revenue of $6.21 billion during the quarter, compared to the consensus estimate of $6.25 billion. AutoZone had a net margin of 14.40% and a negative return on equity of 52.99%. The firm’s quarterly revenue was up 9.0% on a year-over-year basis. During the same period last year, the business posted $46.46 earnings per share. As a group, research analysts forecast that AutoZone will post 158.09 earnings per share for the current year.

Analyst Upgrades and Downgrades

AZO has been the subject of a number of recent research reports. BNP Paribas raised shares of AutoZone to a “strong-buy” rating in a report on Wednesday, September 25th. Roth Mkm restated a “buy” rating and issued a $3,634.00 target price on shares of AutoZone in a research report on Wednesday, October 16th. UBS Group boosted their target price on shares of AutoZone from $3,340.00 to $3,500.00 and gave the company a “buy” rating in a research report on Wednesday, September 25th. Mizuho boosted their target price on shares of AutoZone from $3,280.00 to $3,350.00 and gave the company an “outperform” rating in a research report on Wednesday, September 25th. Finally, Roth Capital upgraded shares of AutoZone to a “strong-buy” rating in a research report on Tuesday, October 15th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, fourteen have issued a buy rating and four have given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $3,202.71.

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.