Time to Buy AutoZone, Inc. After Today’s Option Traders Bet?

 Time to Buy AutoZone, Inc. After Today's Option Traders Bet?

In today’s session AutoZone, Inc. (AZO) registered an unusually high (256) contracts volume of call trades. Someone, most probably a professional was a very active buyer of the October, 2016 call, expecting serious AZO increase. With 256 contracts traded and 3514 open interest for the Oct, 16 contract, it seems this is a quite bullish bet. The option with symbol: AZO161021C00810000 closed last at: $0.85 or 39.3% down. About 94,593 shares traded hands. AutoZone, Inc. (NYSE:AZO) has declined 2.86% since March 2, 2016 and is downtrending. It has underperformed by 11.12% the S&P500.

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 23 analyst reports since August 24, 2015 according to StockzIntelligence Inc. The stock of AutoZone, Inc. (NYSE:AZO) earned “Overweight” rating by Morgan Stanley on Tuesday, September 27. The stock of AutoZone, Inc. (NYSE:AZO) earned “Buy” rating by UBS on Monday, September 12. The rating was initiated by Gabelli on Friday, April 15 with “Buy”. The stock of AutoZone, Inc. (NYSE:AZO) earned “Outperform” rating by Credit Suisse on Tuesday, February 9. The firm earned “Outperform” rating on Tuesday, February 16 by Wedbush. The rating was maintained by RBC Capital Markets with “Sector Perform” on Friday, September 23. The firm has “Neutral” rating by Goldman Sachs given on Friday, September 23. As per Wednesday, March 2, the company rating was maintained by Credit Suisse. Jefferies initiated AutoZone, Inc. (NYSE:AZO) on Tuesday, September 15 with “Hold” rating. The stock has “Outperform” rating given by Oppenheimer on Friday, February 12.

According to Zacks Investment Research, “Autozone is the nation’s leading specialty retailer of automotive parts and accessories, primarily focusing on do-it-yourself customers. Each of the company’s auto parts store carries an extensive product line for cars, vans and light trucks, including new and re-manufactured automotive hard parts, maintenance items, and accessories. Many of the company’s domestic auto parts stores also has a commercial sales program, which provides commercial credit and prompt delivery of parts and other products to local repair garages, dealers and service stations.”

Insitutional Activity: The institutional sentiment decreased to 0.69 in 2016 Q2. Its down 0.16, from 0.85 in 2016Q1. The ratio dropped, 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.
Bradley Foster And Sargent Incorporated Ct holds 7,762 shares or 0.28% of its portfolio. Lord Abbett Lc holds 14,419 shares or 0.04% of its portfolio. The South Africa-based Old Mutual Customised Solutions (Proprietary) Limited has invested 0.12% in AutoZone, Inc. (NYSE:AZO). Clinton Group Inc last reported 0.05% of its portfolio in the stock. Meiji Yasuda Asset Mngmt Ltd, a Japan-based fund reported 2,213 shares. Dimensional Fund Advsr Limited Partnership last reported 0.03% of its portfolio in the stock. Navellier & Associates has 0.27% invested in the company for 2,318 shares. Hirtle Callaghan Ltd Liability Corp accumulated 32 shares or 0% of the stock. The Michigan-based Arcadia Inv Management Mi has invested 0% in AutoZone, Inc. (NYSE:AZO). Advisory Svcs Ntwk Limited Liability Company has 0.14% invested in the company for 759 shares. Teachers Advisors, a New York-based fund reported 109,135 shares. The Japan-based Mitsubishi Ufj Trust & Bk has invested 0.14% in AutoZone, Inc. (NYSE:AZO). Twin Tree Mgmt Lp holds 2,966 shares or 0.04% of its portfolio. Schroder Management Gru owns 6,495 shares or 0.01% of their US portfolio. Conning last reported 1,419 shares in the company.

Insider Transactions: Since April 14, 2016, the stock had 0 insider buys, and 8 insider sales for $26.21 million net activity. MCKENNA WILLIAM ANDREW had sold 3,000 shares worth $2.40 million on Tuesday, July 5. Saltiel Albert sold 1,650 shares worth $1.33 million. GRIFFIN RONALD B sold $3.88M worth of stock. Newbern Thomas B also sold $13.49 million worth of AutoZone, Inc. (NYSE:AZO) shares. Smith Richard Craig sold $2.74 million worth of stock. The insider Hackney William R. sold 1,450 shares worth $1.18 million. The insider GRAVES EARL G JR sold 1,000 shares worth $795,238.

AutoZone, Inc. is a retailer and distributor of automotive replacement parts and accessories in the United States. The company has a market cap of $22.17 billion. The Company’s operating divisions include Auto Parts Locations and Other. It has a 18.65 P/E ratio. The Auto Parts Locations segment comprises Domestic Auto Parts, Mexico, Brazil and Interamerican Motor Corporation .

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 Company’s operating divisions include Auto Parts Locations and Other. The Auto Parts Locations segment comprises Domestic Auto Parts, Mexico, Brazil and Interamerican Motor Corporation (IMC). The Other segment reflects business activities of three businesses: ALLDATA, E-commerce and AutoAnything. As of August 29, 2015, the Company operated approximately 5,140 AutoZone stores in the United States, including Puerto Rico; over 440 stores in Mexico; approximately seven stores in Brazil, and over 20 IMC branches.

More recent AutoZone, Inc. (NYSE:AZO) news were published by: Fool.com which released: “Autozone Beats for the Quarter, Adds More Stores” on October 04, 2016. Also Schaeffersresearch.com published the news titled: “Earnings Preview: AutoZone, Inc. (AZO)” on September 21, 2016. Nasdaq.com‘s news article titled: “Earnings Reaction History: AutoZone Inc., 27.3% Follow-Through Indicator, 10.0 …” with publication date: September 22, 2016 was also an interesting one.

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.

Related posts

Leave a Comment