Wednesday, September 25, 2013 9:36:00 AM
BY Roberto Pedone| 09/24/13 - 12:29 PM EDT
Stock quotes in this article: THO, FINL, MTN, AZZ, JBL
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AZZ
Another earnings short-squeeze prospect is electrical equipment and components maker AZZ (AZZ), which is set to release numbers on Friday before the market open. Wall Street analysts, on average, expect AZZ to report revenue of $202.83 million on earnings of 66 cents per share.
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The current short interest as a percentage of the float for AZZ sits at 2.9%. That means that out of the 24.47 million shares in the tradable float, 696,000 shares are sold short by the bears. If the bulls get the earnings news they're looking for, then shares of AZZ could spike sharply higher post-earnings as the bears look to cover some of their bets.
From a technical perspective, AZZ is currently trending above both its 50-day and 200-day moving averages, which is bullish. This stock has been uptrending strong for the last three months, with shares moving higher from its low of $34.61 to its recent high of $44.69 a share. During that uptrend, shares of AZZ have been making mostly higher lows and higher highs, which is bullish technical price action. That move has now pushed shares of AZZ within range of triggering a near-term breakout trade post-earnings.
If you're bullish on AZZ, then I would wait until after its report and look for long-biased trades if this stock manages to break out above some near-term overhead resistance at $44.69 a share with high volume. Look for volume on that move that hits near or above its three-month average action of 229,856 shares. If that breakout triggers, the AZZ will set up to re-test or possibly take out its 52-week high at $49.10 a share. Any high-volume move above that level will then give AZZ a chance to trend north of $50 a share.
I would simply avoid AZZ or look for short-biased trades if after earnings it fails to trigger that breakout and then drops back below its 200-day at $41.10 a share with high volume. If we get that move, then AZZ will set up to re-test or possibly take out its next major support levels at its 50-day of $38.70 a share to $36 to $35 a share.
Recent AZZ News
- AZZ Inc. to Participate in the Oppenheimer 19th Annual Industrial Growth Conference and B. Riley Financial 24th Annual Institutional Investor Conference in May 2024 • PR Newswire (US) • 05/03/2024 10:30:00 AM
- AZZ Inc. Announces Closing of its Public Offering of Common Stock and Full Exercise of Underwriters' Option • PR Newswire (US) • 04/30/2024 08:15:00 PM
- AZZ Inc. Announces Pricing of its Public Offering of Common Stock • PR Newswire (US) • 04/26/2024 03:30:00 AM
- AZZ Inc. Announces Proposed Public Offering of Common Stock • PR Newswire (US) • 04/24/2024 08:15:00 PM
- U.S. Index Futures Surge While Wall Street Eyes Rebound on Earnings Focus, Oil Prices Slip • IH Market News • 04/22/2024 12:09:47 PM
- AZZ Inc. Reports Fourth Quarter and Fiscal Year 2024 Full Year Results • PR Newswire (US) • 04/22/2024 10:30:00 AM
- AZZ Inc. Raises Full Year Fiscal Year 2025 Guidance • PR Newswire (US) • 04/08/2024 10:30:00 AM
- AZZ Inc. to Review Fourth Quarter and Fiscal Year 2024 Financial Results on Monday, April 22, 2024 • PR Newswire (US) • 04/05/2024 10:30:00 AM
- AZZ Inc. Announces Fiscal Year 2024 Fourth Quarter Cash Dividend of $0.17 per Share • PR Newswire (US) • 04/04/2024 08:30:00 PM
- AZZ Inc. Announces CFO Succession Plan • PR Newswire (US) • 03/26/2024 09:30:00 PM
- AZZ Inc. Announces Successful Completion of Term Loan B Refinancing in Leverage-Neutral Transaction • PR Newswire (US) • 03/20/2024 08:30:00 PM
- AZZ Inc. to Participate in the Sidoti Small Cap Conference and the 36th Annual Roth Conference in March 2024 • PR Newswire (US) • 03/04/2024 11:30:00 AM
- Form SC 13G - Statement of acquisition of beneficial ownership by individuals • Edgar (US Regulatory) • 02/14/2024 03:04:36 PM
- Form SC 13G/A - Statement of acquisition of beneficial ownership by individuals: [Amend] • Edgar (US Regulatory) • 02/13/2024 09:59:06 PM
- AZZ Inc. to Participate in Citi's 2024 Global Industrial Tech and Mobility Conference and J.P. Morgan's Global High Yield & Leveraged Finance Conference • PR Newswire (US) • 02/08/2024 09:15:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 02/06/2024 09:28:37 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 02/01/2024 09:32:59 PM
- AZZ Inc. Issues Fiscal Year 2025 Guidance and Reaffirms Previously Issued Fiscal Year 2024 Guidance • PR Newswire (US) • 02/01/2024 09:15:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 01/18/2024 09:38:37 PM
- AZZ Inc. Announces Fiscal Year 2024 Third Quarter Cash Dividend of $0.17 per Share • PR Newswire (US) • 01/18/2024 09:15:00 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 01/12/2024 08:37:50 PM
- Form S-3ASR - Automatic shelf registration statement of securities of well-known seasoned issuers • Edgar (US Regulatory) • 01/10/2024 01:22:00 PM
- AZZ Inc. Reports Fiscal Year 2024 Third Quarter Results • PR Newswire (US) • 01/09/2024 09:30:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 01/09/2024 09:22:06 PM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 01/09/2024 09:19:29 PM
NanoViricides Reports that the Phase I NV-387 Clinical Trial is Completed Successfully and Data Lock is Expected Soon • NNVC • May 2, 2024 10:07 AM
ILUS Files Form 10-K and Provides Shareholder Update • ILUS • May 2, 2024 8:52 AM
Avant Technologies Names New CEO Following Acquisition of Healthcare Technology and Data Integration Firm • AVAI • May 2, 2024 8:00 AM
Bantec Engaged in a Letter of Intent to Acquire a Small New Jersey Based Manufacturing Company • BANT • May 1, 2024 10:00 AM
Cannabix Technologies to Deliver Breath Logix Alcohol Screening Device to Australia • BLO • Apr 30, 2024 8:53 AM
Hydromer, Inc. Reports Preliminary Unaudited Financial Results for First Quarter 2024 • HYDI • Apr 29, 2024 9:10 AM