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Investment analysts at Morgan Stanley initiated coverage on shares of AutoZone (NYSE:AZO) in a note issued to investors on Tuesday. The firm set an “equal weight” rating and a $575.00 price target on the stock. Morgan Stanley’s target price would suggest a potential upside of 7.89% from the company’s current price.

Other equities research analysts have also recently issued reports about the stock. Analysts at Zacks reiterated a “neutral” rating on shares of AutoZone in a research note on Friday, June 6th. They now have a $565.00 price target on the stock. Separately, analysts at Goldman Sachs upgraded shares of AutoZone to a “buy” rating in a research note on Wednesday, June 4th. Finally, analysts at Stifel Nicolaus upgraded shares of AutoZone from a “hold” rating to a “buy” rating in a research note on Wednesday, June 4th. They now have a $570.00 price target on the stock. Seven equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. AutoZone presently has an average rating of “Buy” and a consensus price target of $566.54.

Shares of AutoZone (NYSE:AZO) traded down 0.18% during mid-day trading on Tuesday, hitting $532.00. 11,825 shares of the company’s stock traded hands. AutoZone has a one year low of $405.71 and a one year high of $561.62. The stock has a 50-day moving average of $531.0 and a 200-day moving average of $516.4. The company has a market cap of $17.343 billion and a price-to-earnings ratio of 17.22.

AutoZone (NYSE:AZO) last released its earnings data on Tuesday, May 27th. The company reported $8.46 earnings per share (EPS) for the quarter, beating the 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 previous year, the company posted $7.27 earnings per share. The company’s revenue for the quarter was up 6.1% on a year-over-year basis. On average, analysts predict that AutoZone will post $31.56 earnings per share for the current fiscal year.

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

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