What Next for Autozone Incorporated (NYSE:AZO) Stock After Decrease in Shorted Shares?

December 7, 2017 - By Vivian Currie

 What Next for Autozone Incorporated (NYSE:AZO) Stock After Decrease in 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.
Pggm Invests reported 25,536 shares or 0.07% of all its holdings. Utd Advisers holds 2,544 shares or 0.01% of its portfolio. Wellington Mgmt Gru Incorporated Limited Liability Partnership owns 158,166 shares for 0.02% of their portfolio. Factory Mutual Ins Communications accumulated 11,500 shares or 0.08% of the stock. Oppenheimer Asset Mngmt holds 0.01% in AutoZone, Inc. (NYSE:AZO) or 555 shares. Alliancebernstein Limited Partnership has 0.03% invested in AutoZone, Inc. (NYSE:AZO) for 76,744 shares. Parkside Bancshares And holds 0% in AutoZone, Inc. (NYSE:AZO) or 3 shares. Stifel Financial owns 13,235 shares or 0.03% of their US portfolio. Tributary Capital Mngmt Lc stated it has 1,660 shares or 0.08% of all its holdings. Louisiana State Employees Retirement Sys owns 1,700 shares for 0.05% of their portfolio. Clearbridge Invests Llc stated it has 157 shares or 0% of all its holdings. Cibc Asset Incorporated holds 0.02% or 6,215 shares in its portfolio. 9,472 were reported by Pnc Financial Services Grp. 155,655 were reported by Parametric Port Lc. Exane Derivatives invested in 25 shares or 0% of the stock.

The stock of Autozone Incorporated (NYSE:AZO) registered a decrease of 4.4% in short interest. AZO’s total short interest was 1.96M 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. Jefferies maintained AutoZone, Inc. (NYSE:AZO) rating on Friday, September 8. Jefferies has “Hold” rating and $660.0 target. Morgan Stanley downgraded AutoZone, Inc. (NYSE:AZO) on Thursday, July 6 to “Equal-Weight” rating. The rating was maintained by Jefferies on Monday, June 26 with “Hold”. The rating was downgraded by Wedbush to “Neutral” on Tuesday, May 30. As per Tuesday, August 25, the company rating was maintained by Citigroup. The stock of AutoZone, Inc. (NYSE:AZO) earned “Buy” rating by Bank of America on Monday, August 24. The rating was upgraded by Morgan Stanley to “Overweight” on Tuesday, September 27. The rating was maintained by RBC Capital Markets on Friday, November 10 with “Hold”. The firm has “Hold” rating given on Wednesday, December 6 by Jefferies. The company was upgraded on Tuesday, May 30 by Goldman Sachs.

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