What’s Ahead for Autozone Incorporated (NYSE:AZO) After Less Shorted Shares?

December 7, 2017 - By Maria Brooks

 What’s Ahead for Autozone Incorporated (NYSE:AZO) After Less Shorted Shares?

Investors sentiment decreased to 0.85 in 2017 Q2. Its down 0.02, from 0.87 in 2017Q1. It turned negative, as 81 investors sold AutoZone, Inc. shares while 174 reduced holdings. 70 funds opened positions while 147 raised stakes. 26.61 million shares or 3.74% less from 27.65 million shares in 2017Q1 were reported.
New South Capital Incorporated holds 3.18% of its portfolio in AutoZone, Inc. (NYSE:AZO) for 235,651 shares. Summit Asset Mgmt Ltd Llc stated it has 1,960 shares or 0.59% of all its holdings. Tompkins Fin Corp holds 2,328 shares or 0.33% of its portfolio. Independent Order Of Foresters reported 500 shares. Strs Ohio accumulated 0% or 1,215 shares. Metropolitan Life Ins New York reported 0.06% in AutoZone, Inc. (NYSE:AZO). Zeke Capital Advsrs owns 395 shares. National Mutual Federation Of Agricultural Cooperatives holds 0.05% or 4,150 shares in its portfolio. 30,715 were accumulated by Thornburg Management. Bokf Na stated it has 3,411 shares. Kentucky Retirement Trust Fund invested in 771 shares or 0.08% of the stock. Moreover, Barclays Public Limited Company has 0.05% invested in AutoZone, Inc. (NYSE:AZO). Honeywell Incorporated has invested 0.95% in AutoZone, Inc. (NYSE:AZO). Ny State Common Retirement Fund, New York-based fund reported 84,091 shares. Ibm Retirement Fund has invested 0.08% in AutoZone, Inc. (NYSE:AZO).

The stock of Autozone Incorporated (NYSE:AZO) registered a decrease of 4.4% in short interest. AZO’s total short interest was 1.96 million shares in December as published by FINRA. Its down 4.4% from 2.05M shares, reported previously. With 448,600 shares average volume, it will take short sellers 4 days to cover their AZO’s short positions.

The stock increased 0.53% or $3.69 during the last trading session, reaching $702.34. About 419,404 shares traded. AutoZone, Inc. (NYSE:AZO) has declined 10.95% since December 7, 2016 and is downtrending. It has underperformed by 27.65% the S&P500.

AutoZone, Inc. retails and distributes automotive replacement parts and accessories. The company has market cap of $19.15 billion. It offers 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. It has a 15.68 P/E ratio. The firm also provides A/C compressors, batteries and accessories, belts and hoses, calipers, carburetors, chassis, clutches, CV axles, engines, fuel pumps, fuses, ignition and lighting products, mufflers, radiators, thermostats, starters and alternators, and water pumps.

AutoZone, Inc. (NYSE:AZO) Ratings Coverage

Among 23 analysts covering Autozone Inc. (NYSE:AZO), 11 have Buy rating, 0 Sell and 12 Hold. Therefore 48% are positive. Autozone Inc. had 67 analyst reports since August 24, 2015 according to SRatingsIntel. On Friday, September 23 the stock rating was maintained by Goldman Sachs with “Neutral”. The stock of AutoZone, Inc. (NYSE:AZO) has “Overweight” rating given on Tuesday, September 27 by Morgan Stanley. The company was maintained on Tuesday, August 25 by Citigroup. The rating was initiated by Gabelli on Friday, April 15 with “Buy”. Guggenheim downgraded the shares of AZO in report on Wednesday, December 6 to “Hold” rating. The rating was maintained by Bank of America on Sunday, August 30 with “Buy”. Robert W. Baird maintained the stock with “Hold” rating in Thursday, October 26 report. Wedbush upgraded AutoZone, Inc. (NYSE:AZO) on Tuesday, February 16 to “Outperform” rating. The firm has “Hold” rating by Jefferies given on Monday, June 26. Jefferies initiated it with “Hold” rating and $740 target in Tuesday, September 15 report.

More notable recent AutoZone, Inc. (NYSE:AZO) news were published by: Nasdaq.com which released: “Earnings Reaction History: AutoZone Inc., 27.3% Follow-Through Indicator, 2.6 …” on December 05, 2017, also Nasdaq.com with their article: “AutoZone Inc. Reveals 1% Advance In Q1 Profit” published on December 05, 2017, Seekingalpha.com published: “AutoZone’s Negative Book Value” on November 08, 2017. More interesting news about AutoZone, Inc. (NYSE:AZO) were released by: Investorplace.com and their article: “AutoZone, Inc. Stock Revs Up on Q1 Earnings Beat” published on December 05, 2017 as well as Globenewswire.com‘s news article titled: “AutoZone to Release First Quarter Earnings December 5, 2017” with publication date: November 14, 2017.

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