Traders Are Bearish AutoZone, Inc. (AZO) After The Stock Formed Bearish Double Bottom

September 17, 2017 - By reb123z

Investors sentiment increased to 0.88 in 2016 Q4. Its up 0.06, from 0.82 in 2016Q3. It increased, as 37 investors sold AutoZone, Inc. shares while 209 reduced holdings. 71 funds opened positions while 145 raised stakes. 26.74 million shares or 0.01% more from 26.74 million shares in 2016Q3 were reported.
King Wealth Mgmt Gru Limited Liability Company holds 1.45% in AutoZone, Inc. (NYSE:AZO) or 4,084 shares. Citadel Advsr Ltd Limited Liability Company has 0.18% invested in AutoZone, Inc. (NYSE:AZO). Andra Ap has 0.56% invested in AutoZone, Inc. (NYSE:AZO). 3,109 were accumulated by New Mexico Educational Retirement Board. State Teachers Retirement System owns 52,130 shares or 0.11% of their US portfolio. Blackrock Invest Management Ltd Liability Co holds 63,721 shares or 0.06% of its portfolio. 1,860 were reported by Cypress Asset Management Tx. Putnam Invests Lc reported 0.04% in AutoZone, Inc. (NYSE:AZO). Stevens Limited Partnership holds 0.14% or 4,288 shares in its portfolio. Northern Tru reported 0.09% stake. Capstone Asset Management has invested 0.06% in AutoZone, Inc. (NYSE:AZO). Prudential Public Ltd has invested 0% of its portfolio in AutoZone, Inc. (NYSE:AZO). Gateway Advisers Limited Liability Com, Ohio-based fund reported 2,034 shares. Bokf Na accumulated 3,040 shares. Horizon Invs Ltd Liability Corporation has 686 shares for 0.04% of their portfolio.

Since March 16, 2017, it had 0 insider purchases, and 1 sale for $602,495 activity. Another trade for 14,300 shares valued at $10.36 million was sold by Halsell Rodney C.. GRAVES EARL G JR sold $602,495 worth of stock or 1,000 shares.

The chart of AutoZone, Inc. (AZO) shows a double bottom with $552.79 target or 3.00 % below today’s $569.89 share price. The 9 months chart pattern indicates high risk for the $15.97 billion company. It was reported on Sep, 17 by Finviz.com. If the $552.79 price target is reached, the company will be worth $479.10 million less. Double bottoms are rare but powerful chart patterns.

The stock increased 1.12% or $6.33 on September 15, reaching $569.89. About 693,599 shares traded or 60.60% up from the average. AutoZone, Inc. (NYSE:AZO) has declined 10.95% since September 17, 2016 and is downtrending. It has underperformed by 27.65% the S&P500.

Investors wait AutoZone, Inc. (NYSE:AZO) to report on September, 19 before the open. its quarterly earnings Wall Street analysts expect $15.14 earnings per share, up $0.84 or 5.87 % from last year’s $14.3 same quarter earnings. This translates into $424.27 million profit for AZO giving the stock a 9.41 P/E. This is assuming the current $15.14 EPS is accurate. AutoZone, Inc.’s Wall Street analysts see 32.34 % EPS growth, taking into account the $11.44 EPS reproted in the previous quarter,

AutoZone, Inc. (NYSE:AZO) Ratings Coverage

Among 21 analysts covering Autozone Inc. (NYSE:AZO), 12 have Buy rating, 0 Sell and 9 Hold. Therefore 57% are positive. Autozone Inc. had 51 analyst reports since August 24, 2015 according to SRatingsIntel. Deutsche Bank maintained AutoZone, Inc. (NYSE:AZO) rating on Wednesday, December 7. Deutsche Bank has “Hold” rating and $820 target. UBS upgraded it to “Buy” rating and $825 target in Monday, September 12 report. The firm has “Buy” rating by BTIG Research given on Thursday, May 25. The firm earned “Sector Perform” rating on Wednesday, September 23 by RBC Capital Markets. ValuEngine upgraded the shares of AZO in report on Thursday, May 25 to “Buy” rating. The rating was initiated by Atlantic Securities with “Neutral” on Wednesday, December 14. Credit Suisse maintained the stock with “Outperform” rating in Wednesday, March 2 report. The stock of AutoZone, Inc. (NYSE:AZO) has “Hold” rating given on Wednesday, December 9 by Deutsche Bank. The stock of AutoZone, Inc. (NYSE:AZO) has “Overweight” rating given on Tuesday, September 27 by Morgan Stanley. The stock has “Overweight” rating by JP Morgan on Wednesday, December 7.

More notable recent AutoZone, Inc. (NYSE:AZO) news were published by: Seekingalpha.com which released: “Is AutoZone Stock Undervalued Or Overvalued Before Earnings?” on September 07, 2017, also Seekingalpha.com with their article: “AutoZone: Ready To Rebound” published on August 24, 2017, Bizjournals.com published: “AutoZone to celebrate retail milestone” on August 22, 2017. More interesting news about AutoZone, Inc. (NYSE:AZO) were released by: Seekingalpha.com and their article: “Underneath The Hood: AutoZone Shows 17% Upside” published on September 14, 2017 as well as Bizjournals.com‘s news article titled: “In the Zone, Memphis auto parts retailer celebrates store 6000” with publication date: August 25, 2017.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.