AZZ Inc. (NYSE:AZZ) Receives $95.80 Consensus Price Target from Analysts

Shares of AZZ Inc. (NYSE:AZZ) have received a consensus rating of “Moderate Buy” from the seven ratings firms that are currently covering the company, Marketbeat.com reports. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $95.80.

Several research firms recently commented on AZZ. Wolfe Research began coverage on shares of AZZ in a report on Wednesday, July 31st. They issued a “peer perform” rating on the stock. Robert W. Baird initiated coverage on shares of AZZ in a research note on Tuesday, July 23rd. They issued a “neutral” rating and a $90.00 target price on the stock. Baird R W raised shares of AZZ to a “hold” rating in a research report on Tuesday, July 23rd. Finally, B. Riley raised their price objective on AZZ from $89.00 to $99.00 and gave the company a “buy” rating in a research report on Wednesday, July 17th.

AZZ Price Performance

AZZ stock opened at $78.32 on Thursday. AZZ has a 1 year low of $44.83 and a 1 year high of $88.67. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.28 and a current ratio of 1.89. The firm has a 50 day moving average price of $79.52 and a 200 day moving average price of $78.87. The company has a market cap of $2.34 billion, a price-to-earnings ratio of 73.20, a PEG ratio of 1.18 and a beta of 1.23.

AZZ (NYSE:AZZ) last announced its quarterly earnings data on Wednesday, October 9th. The industrial products company reported $1.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.32 by $0.05. The company had revenue of $409.01 million during the quarter, compared to analysts’ expectations of $409.50 million. AZZ had a net margin of 7.63% and a return on equity of 18.19%. The business’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same period in the previous year, the company earned $1.27 EPS. Sell-side analysts predict that AZZ will post 4.95 earnings per share for the current year.

AZZ Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Friday, October 18th will be issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 0.87%. The ex-dividend date is Friday, October 18th. AZZ’s payout ratio is 63.55%.

Hedge Funds Weigh In On AZZ

A number of institutional investors have recently added to or reduced their stakes in AZZ. CWM LLC lifted its stake in shares of AZZ by 69.4% in the second quarter. CWM LLC now owns 459 shares of the industrial products company’s stock worth $35,000 after acquiring an additional 188 shares in the last quarter. Claro Advisors LLC boosted its stake in shares of AZZ by 7.7% during the 2nd quarter. Claro Advisors LLC now owns 3,298 shares of the industrial products company’s stock valued at $255,000 after buying an additional 236 shares during the last quarter. FSC Wealth Advisors LLC grew its position in shares of AZZ by 38.6% during the second quarter. FSC Wealth Advisors LLC now owns 951 shares of the industrial products company’s stock worth $73,000 after buying an additional 265 shares in the last quarter. Texas Permanent School Fund Corp grew its position in shares of AZZ by 1.3% during the first quarter. Texas Permanent School Fund Corp now owns 21,947 shares of the industrial products company’s stock worth $1,697,000 after buying an additional 284 shares in the last quarter. Finally, ProShare Advisors LLC increased its stake in shares of AZZ by 7.4% in the first quarter. ProShare Advisors LLC now owns 5,010 shares of the industrial products company’s stock worth $387,000 after buying an additional 344 shares during the last quarter. Institutional investors and hedge funds own 90.93% of the company’s stock.

AZZ Company Profile

AZZ Inc provides hot-dip galvanizing and coil coating solutions in North America. It offers metal finishing solutions for corrosion protection, including hot-dip galvanizing, spin galvanizing, powder coating, anodizing, and plating to steel fabrication and other industries, as well as to fabricators or manufacturers that provide services to the transmission and distribution, bridge and highway, petrochemical, and general industrial markets; and original equipment manufacturers.