Short Interest Don’t Lie: Could Autozone Incorporated (NYSE:AZO) See a Reversal After More Sellers Came In?

November 25, 2016 - By Dolores Ford   ·   0 Comments

Short Interest Don't Lie: Could Autozone Incorporated (NYSE:AZO) See a Reversal After More Sellers Came In?

The stock of Autozone Incorporated (NYSE:AZO) registered an increase of 7.84% in short interest. AZO’s total short interest was 2.63 million shares in November as published by FINRA. Its up 7.84% from 2.44 million shares, reported previously. With 312,700 shares average volume, it will take short sellers 8 days to cover their AZO’s short positions. The stock closed at $798.05 during the last session. It is down 3.50% since April 22, 2016 and is uptrending. It has underperformed by 1.91% the S&P500.

Autozone, Inc. is a retailer and distributor of automotive replacement parts and accessories in the United States. The company has a market cap of $23.16 billion. The Firm operates through the Auto Parts Locations segment. It has a 19.52 P/E ratio. The Auto Parts Locations segment is a retailer and distributor of automotive parts and accessories.

Insitutional Activity: The institutional sentiment increased to 0.82 in Q2 2016. Its up 0.13, from 0.69 in 2016Q1. The ratio increased, as 55 funds sold all AutoZone, Inc. shares owned while 216 reduced positions. 35 funds bought stakes while 151 increased positions. They now own 27.13 million shares or 20.03% less from 33.93 million shares in 2016Q1.
Burney holds 1.47% or 25,787 shares in its portfolio. Shinko Asset Mgmt Com has invested 0% of its portfolio in AutoZone, Inc. (NYSE:AZO). Rhumbline Advisers has 0.12% invested in the company for 52,014 shares. Moreover, 12Th Street Asset Mgmt Ltd Liability has 1.19% invested in AutoZone, Inc. (NYSE:AZO) for 3,784 shares. King Luther Management last reported 0.01% of its portfolio in the stock. Advantus Cap Management has invested 0.07% of its portfolio in AutoZone, Inc. (NYSE:AZO). Paloma Prtn Management last reported 0.03% of its portfolio in the stock. Assetmark accumulated 1,413 shares or 0.02% of the stock. Numeric Investors Limited Liability Company holds 0% of its portfolio in AutoZone, Inc. (NYSE:AZO) for 340 shares. Robeco Institutional Asset Management Bv accumulated 28,604 shares or 0.17% of the stock. Beck Mack And Oliver Lc holds 0.13% of its portfolio in AutoZone, Inc. (NYSE:AZO) for 4,500 shares. Glg Prns Lp holds 15,267 shares or 0.36% of its portfolio. Gemmer Asset Lc holds 0.01% or 32 shares in its portfolio. Lakeview Cap Ltd Liability accumulated 0.23% or 483 shares. Adage Capital Group, a Massachusetts-based fund reported 55,215 shares.

Insider Transactions: Since July 5, 2016, the stock had 0 insider buys, and 6 insider sales for $23.08 million net activity. Shares for $13.49 million were sold by Newbern Thomas B on Thursday, August 11. Saltiel Albert sold $1.33 million worth of stock. GRAVES EARL G JR also sold $795,238 worth of AutoZone, Inc. (NYSE:AZO) on Tuesday, July 19. GRIFFIN RONALD B also sold $3.88M worth of AutoZone, Inc. (NYSE:AZO) on Friday, July 8. MCKENNA WILLIAM ANDREW had sold 3,000 shares worth $2.40 million on Tuesday, July 5. On Friday, July 8 the insider Hackney William R. sold $1.18 million.

AutoZone, Inc. (NYSE:AZO) Ratings Coverage

Out of 12 analysts covering Autozone Inc. (NYSE:AZO), 7 rate it a “Buy”, 0 “Sell”, while 5 “Hold”. This means 58% are positive. Autozone Inc. has been the topic of 24 analyst reports since August 24, 2015 according to StockzIntelligence Inc. The firm has “Outperform” rating by Oppenheimer given on Friday, February 12. The stock of AutoZone, Inc. (NYSE:AZO) has “Hold” rating given on Tuesday, September 15 by Jefferies. The rating was upgraded by Wedbush to “Outperform” on Tuesday, February 16. RBC Capital Markets maintained it with “Sector Perform” rating and $789 target price in Wednesday, December 9 report. The stock of AutoZone, Inc. (NYSE:AZO) earned “Outperform” rating by Credit Suisse on Wednesday, March 2. The firm has “Sector Perform” rating given on Wednesday, September 23 by RBC Capital Markets. Credit Suisse maintained the shares of AZO in a report on Tuesday, February 9 with “Outperform” rating. The firm earned “Overweight” rating on Tuesday, September 27 by Morgan Stanley. On Friday, August 26 the stock rating was initiated by Susquehanna with “Neutral”. Deutsche Bank maintained it with “Hold” rating and $770 target price in Wednesday, December 9 report.

AZO Company Profile

Autozone, Inc., incorporated on November 25, 1991, is a retailer and distributor of automotive replacement parts and accessories in the United States. The Firm operates through the Auto Parts Locations segment. The Auto Parts Locations segment is a retailer and distributor of automotive parts and accessories. As of August 27, 2016, the Company operated through 5,814 locations in the United States, Puerto Rico, Mexico and Brazil. The Company’s stores carry product lines for cars, sport utility vehicles, vans and light trucks, including new and remanufactured automotive hard parts, maintenance items, accessories and non-automotive products. The Company’s domestic stores also have a commercial sales program, which provides commercial credit and delivery of parts and other products to local, regional and national repair garages, dealers, service stations and public sector accounts. The Company’s other operating divisions include ALLDATA, which produces, sells and maintains diagnostic and repair information software used in the automotive repair industry; E-commerce, which includes direct sales to clients through www.autozone.com, and AutoAnything, which includes direct sales to clients through www.autoanything.com.

Another recent and important AutoZone, Inc. (NYSE:AZO) news was published by Seekingalpha.com which published an article titled: “Autozone Inc.: Overleveraged And Under-Owned By Management” on October 28, 2016.

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By Dolores Ford


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