AZZ (NYSE:AZZ) Price Target Raised to $110.00

AZZ (NYSE:AZZ) had its price objective hoisted by Jefferies Financial Group from $105.00 to $110.00 in a report issued on Friday morning,Benzinga reports. Jefferies Financial Group currently has a buy rating on the industrial products company’s stock.

AZZ Stock Performance

Shares of AZZ stock opened at $95.40 on Friday. The firm has a market capitalization of $2.85 billion, a P/E ratio of 74.53, a PEG ratio of 1.30 and a beta of 1.30. The company has a quick ratio of 1.32, a current ratio of 1.85 and a debt-to-equity ratio of 0.91. The company has a 50 day moving average price of $83.89 and a 200 day moving average price of $80.91. AZZ has a 52 week low of $50.27 and a 52 week high of $97.98.

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

AZZ Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Friday, October 18th were paid a dividend of $0.17 per share. The ex-dividend date of this dividend was Friday, October 18th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.71%. AZZ’s payout ratio is 53.13%.

Institutional Investors Weigh In On AZZ

Institutional investors have recently added to or reduced their stakes in the stock. Farther Finance Advisors LLC grew its stake 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 acquiring an additional 379 shares during the period. CWM LLC grew its stake in AZZ by 69.4% in the 2nd 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 acquired a new stake in AZZ in the 2nd quarter valued at $52,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in AZZ in the 2nd quarter valued at $67,000. Finally, 1620 Investment Advisors Inc. acquired a new stake in AZZ in the 2nd quarter valued at $72,000. 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.