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AutoZone (NYSE:AZO) was downgraded by investment analysts at Stifel Nicolaus from a “buy” rating to a “hold” rating in a note issued to investors on Friday, TheFlyOnTheWall.com reports. They currently have a $570.00 price objective on the stock. Stifel Nicolaus’ price target would indicate a potential upside of 8.64% from the company’s current price.

Shares of AutoZone (NYSE:AZO) traded down 0.68% on Friday, hitting $521.11. 148,290 shares of the company’s stock traded hands. AutoZone has a 52-week low of $408.90 and a 52-week high of $561.62. The stock’s 50-day moving average is $532.3 and its 200-day moving average is $524.2. The company has a market cap of $16.988 billion and a price-to-earnings ratio of 16.96.

AutoZone (NYSE:AZO) last announced its earnings results on Tuesday, May 27th. The company reported $8.46 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $7.27 earnings per share. AutoZone’s revenue was up 6.1% compared to the same quarter last year. On average, analysts predict that AutoZone will post $31.57 earnings per share for the current fiscal year.

A number of other firms have also recently commented on AZO. Analysts at Goldman Sachs initiated coverage on shares of AutoZone in a research note on Tuesday, June 24th. They set an “equal weight” rating and a $575.00 price target on the stock. Separately, analysts at Morgan Stanley initiated coverage on shares of AutoZone in a research note on Tuesday, June 24th. They set an “equal weight” rating and a $575.00 price target on the stock. Finally, 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. Nine analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $563.42.

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

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