TheStreet’s Jim Cramer is revved up over auto parts companies like AutoZone (AZO) and Genuine Parts (GPC), based on what he's seeing with their stock charts. ‘Autozone has the best buyback of any stock in the New York Stock Exchange,’ said Cramer. ‘All you have to do is look at the float and how much it’s shrunk.’ Cramer also noted that AutoZone recently reported slightly better than expected earnings. He added that Genuine Parts acts like it’s a take out, and O’Reilly Automotive (ORLY) has ‘just been consistently good.’ Cramer said these stocks are benefitting from the fact that the average age of a vehicle on the road is twelve years old. Cramer is portfolio manager of Action Alerts PLUS.
More from Video
One Tweet Pulls the Rug Out From Under the Indexes
Despite the president's promise of no stimulus until after Nov. 3, there are no signs yet that this is the sort of correlated selling that leads to a deep correction.
A Technical Look at the New Dow Jones Industrial Average
Salesforce, Amgen and Honeywell will give a lift to the DJIA going forward.
Conagra Brands Looks Tastier After Its Upgrade to Buy
CAG has hung onto the bulk of its recent gains, and could rise to the $50 area, according to the charts and indicators.
Biogen Bulls Get a Lift From Quant Upgrade and Strengthening Charts
Breaking down an approach to the long side of this biotech stock.
Is Renewable Energy the Defensive Stock Opportunity You're Missing
AMSC CEO discusses that and China challenges.