Shares of AZZ Inc (NYSE:AZZ) have been given an average broker rating score of 2.00 (Buy) from the two analysts that cover the stock, Zacks Investment Research reports. One equities research analyst has rated the stock with a hold recommendation and one has assigned a strong buy recommendation to the company. AZZ’s rating score has improved by 33.3% from three months ago as a result of a number of analysts’ upgrades and downgrades.
Brokerages have set a 1 year consensus price objective of $48.00 for the company and are forecasting that the company will post $0.41 earnings per share for the current quarter, according to Zacks. Zacks has also given AZZ an industry rank of 209 out of 256 based on the ratings given to related companies.
A number of equities analysts have commented on the company. ValuEngine upgraded AZZ from a “hold” rating to a “buy” rating in a research note on Tuesday, November 6th. TheStreet downgraded AZZ from a “b-” rating to a “c+” rating in a research note on Monday, October 8th. Zacks Investment Research downgraded AZZ from a “hold” rating to a “sell” rating in a research note on Wednesday, December 12th. Sidoti upgraded AZZ from a “neutral” rating to a “buy” rating and set a $54.00 target price for the company in a research note on Monday, October 29th. Finally, Stifel Nicolaus restated a “hold” rating and issued a $52.00 target price on shares of AZZ in a research note on Tuesday, December 11th.
In other AZZ news, insider Thomas E. Ferguson acquired 5,000 shares of AZZ stock in a transaction dated Monday, October 22nd. The stock was acquired at an average cost of $45.77 per share, for a total transaction of $228,850.00. Following the completion of the transaction, the insider now owns 62,099 shares in the company, valued at approximately $2,842,271.23. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Paul Wesley Fehlman acquired 1,000 shares of AZZ stock in a transaction dated Monday, October 22nd. The shares were acquired at an average price of $45.48 per share, with a total value of $45,480.00. Following the completion of the transaction, the chief financial officer now owns 12,755 shares of the company’s stock, valued at approximately $580,097.40. The disclosure for this purchase can be found here. Insiders own 0.01% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the company. Bank of New York Mellon Corp raised its holdings in AZZ by 3.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 374,204 shares of the industrial products company’s stock valued at $16,260,000 after buying an additional 12,094 shares during the period. SG Americas Securities LLC purchased a new stake in AZZ in the second quarter worth $582,000. Schwab Charles Investment Management Inc. increased its stake in AZZ by 7.6% in the second quarter. Schwab Charles Investment Management Inc. now owns 219,426 shares of the industrial products company’s stock worth $9,535,000 after purchasing an additional 15,512 shares during the period. BlackRock Inc. increased its stake in AZZ by 7.4% in the second quarter. BlackRock Inc. now owns 3,534,695 shares of the industrial products company’s stock worth $153,583,000 after purchasing an additional 242,714 shares during the period. Finally, Legal & General Group Plc increased its stake in AZZ by 5.0% in the second quarter. Legal & General Group Plc now owns 54,826 shares of the industrial products company’s stock worth $2,372,000 after purchasing an additional 2,590 shares during the period. Institutional investors and hedge funds own 89.69% of the company’s stock.
AZZ stock traded up $0.81 during midday trading on Thursday, hitting $45.25. The stock had a trading volume of 202,500 shares, compared to its average volume of 180,992. The company has a quick ratio of 1.97, a current ratio of 2.87 and a debt-to-equity ratio of 0.46. The firm has a market cap of $1.15 billion, a P/E ratio of 33.25 and a beta of 1.44. AZZ has a 12 month low of $37.43 and a 12 month high of $56.05.
AZZ (NYSE:AZZ) last announced its quarterly earnings data on Tuesday, January 8th. The industrial products company reported $0.59 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.61 by ($0.02). The firm had revenue of $239.50 million during the quarter, compared to the consensus estimate of $238.96 million. AZZ had a net margin of 7.12% and a return on equity of 7.98%. AZZ’s quarterly revenue was up 15.0% compared to the same quarter last year. As a group, equities research analysts anticipate that AZZ will post 2.16 earnings per share for the current year.
AZZ Inc provides galvanizing and metal coating services, welding solutions, specialty electrical equipment, and highly engineered services to the power generation, transmission, distribution, refining, and industrial markets. The company operates through two segments, Energy Segment and Metal Coatings.
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