JPMorgan Chase & Co. Lowers AutoZone to Neutral (AZO)
AutoZone (NYSE:AZO) was downgraded by equities researchers at JPMorgan Chase & Co. from an “overweight” rating to a “neutral” rating in a research report issued on Tuesday, TheFlyOnTheWall.com reports. They currently have a $590.00 price target on the stock. JPMorgan Chase & Co.’s target price points to a potential upside of 9.49% from the stock’s previous close.
Shares of AutoZone (NYSE:AZO) traded down 0.22% during mid-day trading on Tuesday, hitting $537.67. 123,052 shares of the company’s stock traded hands. AutoZone has a 1-year low of $408.90 and a 1-year high of $561.62. The stock’s 50-day moving average is $525. and its 200-day moving average is $530.. The company has a market cap of $17.528 billion and a P/E ratio of 17.41.
Several other analysts have also recently commented on the stock. Analysts at SunTrust initiated coverage on shares of AutoZone in a research note on Wednesday, August 27th. They set a “neutral” rating and a $540.00 price target on the stock. Separately, analysts at Stifel Nicolaus downgraded shares of AutoZone from a “buy” rating to a “hold” rating in a research note on Friday, July 18th. They now have a $570.00 price target on the stock. Finally, 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. Ten equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $565.36.
AutoZone, Inc (NYSE:AZO) is a retailer and a distributor of automotive replacement parts and accessories in the United States.
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