Analysts Set AZZ Inc. (NYSE:AZZ) Target Price at $96.80

AZZ Inc. (NYSE:AZZ) has been assigned a consensus recommendation of “Moderate Buy” from the seven brokerages that are currently covering the stock, MarketBeat reports. Three equities research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $96.80.

Separately, Jefferies Financial Group raised their price target on shares of AZZ from $105.00 to $110.00 and gave the stock a “buy” rating in a report on Friday.

Institutional Investors Weigh In On AZZ

Several hedge funds have recently modified their holdings of the company. Farther Finance Advisors LLC lifted its position in shares of AZZ by 3,790.0% during 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 in the last quarter. CWM LLC grew 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 purchasing an additional 188 shares in the last quarter. Point72 DIFC Ltd acquired a new position in AZZ during the second quarter worth $52,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in AZZ in the 2nd quarter valued at $67,000. Finally, 1620 Investment Advisors Inc. acquired a new stake in shares of AZZ in the 2nd quarter worth $72,000. 90.93% of the stock is owned by hedge funds and other institutional investors.

AZZ Stock Up 1.6 %

NYSE:AZZ opened at $95.40 on Friday. The company’s 50-day simple moving average is $83.89 and its 200-day simple moving average is $80.91. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.32 and a current ratio of 1.85. AZZ has a fifty-two week low of $50.27 and a fifty-two week high of $97.98. The stock 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 released its quarterly earnings results on Wednesday, October 9th. The industrial products company reported $1.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.32 by $0.05. The business had revenue of $409.01 million for the quarter, compared to analyst estimates of $409.50 million. AZZ had a net margin of 7.63% and a return on equity of 16.88%. The business’s revenue for the quarter was up 2.6% on a year-over-year basis. During the same period in the previous year, the company earned $1.27 earnings per share. On average, equities analysts anticipate that AZZ will post 5.12 earnings per share for the current fiscal year.

AZZ Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Friday, October 18th were issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 0.71%. The ex-dividend date was Friday, October 18th. AZZ’s dividend payout ratio (DPR) is 53.13%.

About AZZ

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.