AZZ (NYSE:AZZ) Price Target Raised to $110.00 at Jefferies Financial Group

AZZ (NYSE:AZZ) had its price objective lifted by research analysts at Jefferies Financial Group from $105.00 to $110.00 in a report released on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the industrial products company’s stock. Jefferies Financial Group’s price target would suggest a potential upside of 15.30% from the company’s current price.

AZZ Stock Up 1.6 %

AZZ stock opened at $95.40 on Friday. The company has a current ratio of 1.85, a quick ratio of 1.32 and a debt-to-equity ratio of 0.91. AZZ has a 1-year low of $50.27 and a 1-year high of $97.98. The firm’s fifty day simple moving average is $83.89 and its 200-day simple moving average is $80.93. The company has a market capitalization of $2.85 billion, a P/E ratio of 74.53, a P/E/G ratio of 1.30 and a beta of 1.30.

AZZ (NYSE:AZZ) last posted its earnings results on Wednesday, October 9th. The industrial products company reported $1.37 earnings per share for the quarter, beating the consensus estimate of $1.32 by $0.05. AZZ had a return on equity of 16.88% and a net margin of 7.63%. The company had revenue of $409.01 million for the quarter, compared to analyst estimates of $409.50 million. During the same period last year, the company earned $1.27 earnings per share. The business’s revenue was up 2.6% compared to the same quarter last year. Sell-side analysts forecast that AZZ will post 5.12 earnings per share for the current fiscal year.

Hedge Funds Weigh In On AZZ

A number of institutional investors have recently made changes to their positions in the business. Farther Finance Advisors LLC grew its holdings in AZZ by 3,790.0% in the 3rd quarter. Farther Finance Advisors LLC now owns 389 shares of the industrial products company’s stock valued at $32,000 after buying an additional 379 shares during the last quarter. CWM LLC boosted its position in shares of AZZ by 69.4% in the second quarter. CWM LLC now owns 459 shares of the industrial products company’s stock valued at $35,000 after acquiring an additional 188 shares during the period. Point72 DIFC Ltd bought a new position in AZZ during the second quarter worth $52,000. Point72 Asia Singapore Pte. Ltd. bought a new position in AZZ during the second quarter worth $67,000. Finally, 1620 Investment Advisors Inc. acquired a new position in AZZ during the 2nd quarter valued at $72,000. 90.93% of the stock is currently owned by institutional investors.

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.