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AutoZone (NYSE:AZO) was upgraded by equities research analysts at Gabelli from a “hold” rating to a “buy” rating in a research note issued to investors on Wednesday.

AutoZone (NYSE:AZO) opened at 520.25 on Wednesday. AutoZone has a 1-year low of $404.87 and a 1-year high of $561.62. The stock’s 50-day moving average is $527.1 and its 200-day moving average is $507.3. The company has a market cap of $17.286 billion and a P/E ratio of 17.47.

AutoZone (NYSE:AZO) last issued its quarterly earnings data on Tuesday, May 27th. The company reported $8.46 EPS for the quarter, beating the Thomson Reuters consensus estimate of $8.44 by $0.02. The company had revenue of $2.34 billion for the quarter, compared to the consensus estimate of $2.33 billion. During the same quarter in the prior year, the company posted $7.27 earnings per share. The company’s quarterly revenue was up 6.1% on a year-over-year basis. Analysts expect that AutoZone will post $31.57 EPS for the current fiscal year.

A number of other analysts have also recently weighed in on AZO. Analysts at Zacks reiterated a “neutral” rating on shares of AutoZone in a research note on Friday, May 2nd. They now have a $553.00 price target on the stock. Separately, analysts at Robert W. Baird downgraded shares of AutoZone from an “outperform” rating to a “neutral” rating in a research note on Friday, April 4th. They now have a $550.00 price target on the stock. Finally, analysts at Argus raised their price target on shares of AutoZone from $488.00 to $620.00 in a research note on Wednesday, March 5th. They now have a “buy” rating on the stock. Eight equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $545.21.

AutoZone, Inc (NYSE:AZO) is a retailer and a distributor of automotive replacement parts and accessories in the United States.

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