Trading Report: The Eqis Capital Management Inc. invests in AutoZone Inc. (AZO) Shares

The Eqis Capital Management Inc. invests in AutoZone Inc. (AZO) Shares

Eqis Capital Management Inc. boosted its stake in AutoZone Inc. (NYSE:AZO) by 9.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 411 shares of the company’s stock after buying an additional 37 shares during the period. Eqis Capital Management Inc.’s holdings in AutoZone were worth $316,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Nordea Investment Management AB raised its stake in shares of AutoZone by 166.3% in the second quarter. Nordea Investment Management AB now owns 757,122 shares of the company’s stock valued at $601,034,000 after buying an additional 472,766 shares in the last quarter. Pennsylvania Trust Co purchased a new stake in shares of AutoZone during the second quarter valued at approximately $200,000. Leavell Investment Management Inc. purchased a new stake in shares of AutoZone during the second quarter valued at approximately $298,000. Nisa Investment Advisors LLC raised its stake in shares of AutoZone by 5.3% in the second quarter. Nisa Investment Advisors LLC now owns 7,927 shares of the company’s stock valued at $6,292,000 after buying an additional 400 shares in the last quarter. Finally, Sumitomo Life Insurance Co. purchased a new stake in shares of AutoZone during the second quarter valued at approximately $1,939,000. Institutional investors own 97.29% of the company’s stock.

Shares of AutoZone Inc. (NYSE:AZO) traded down 0.01% during mid-day trading on Friday, hitting $797.96. The stock had a trading volume of 128,614 shares. The stock has a market cap of $23.03 billion, a price-to-earnings ratio of 19.61 and a beta of 0.61. AutoZone Inc. has a one year low of $681.01 and a one year high of $819.54. The firm has a 50 day moving average of $753.08 and a 200 day moving average of $767.66.

AutoZone (NYSE:AZO) last posted its quarterly earnings data on Thursday, September 22nd. The company reported $14.30 EPS for the quarter, topping analysts’ consensus estimates of $14.25 by $0.05. The business had revenue of $3.40 billion for the quarter. AutoZone had a negative return on equity of 69.23% and a net margin of 11.67%. The company’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $12.75 earnings per share. On average, analysts forecast that AutoZone Inc. will post $45.44 earnings per share for the current year.

Several equities research analysts have commented on the company. Morgan Stanley set a $820.00 price target on AutoZone and gave the stock a “hold” rating in a research note on Thursday, August 11th. Credit Suisse Group AG reiterated a “buy” rating and issued a $814.00 target price on shares of AutoZone in a research note on Wednesday. Zacks Investment Research upgraded AutoZone from a “hold” rating to a “buy” rating and set a $889.00 target price for the company in a research note on Wednesday. Citigroup Inc. reiterated a “buy” rating on shares of AutoZone in a research note on Thursday, August 25th. Finally, Susquehanna initiated coverage on AutoZone in a research note on Thursday, August 25th. They issued a “neutral” rating and a $810.00 target price for the company. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. AutoZone currently has a consensus rating of “Buy” and an average price target of $855.63.

About AutoZone

AutoZone, Inc is a retailer and distributor of automotive replacement parts and accessories in the United States. The Company’s operating segments include Auto Parts Locations and Other. The Auto Parts Locations segment comprises Domestic Auto Parts, Mexico, Brazil and Interamerican Motor Corporation (IMC).

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