AZZ Inc. (NYSE:AZZ) Given Average Recommendation of “Moderate Buy” by Brokerages

AZZ Inc. (NYSE:AZZ) has been assigned an average rating of “Moderate Buy” from the seven brokerages that are presently covering the firm, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 12 month target price among brokers that have covered the stock in the last year is $95.80.

A number of equities analysts recently commented on the stock. Baird R W raised shares of AZZ to a “hold” rating in a research note on Tuesday, July 23rd. B. Riley lifted their price target on shares of AZZ from $89.00 to $99.00 and gave the stock a “buy” rating in a research note on Wednesday, July 17th. Robert W. Baird assumed coverage on shares of AZZ in a research note on Tuesday, July 23rd. They set a “neutral” rating and a $90.00 price target for the company. Finally, Wolfe Research assumed coverage on shares of AZZ in a research note on Wednesday, July 31st. They set a “peer perform” rating for the company.

Institutional Investors Weigh In On AZZ

Several large investors have recently added to or reduced their stakes in AZZ. Financial Synergies Wealth Advisors Inc. purchased a new stake in shares of AZZ in the 1st quarter worth approximately $32,000. CWM LLC lifted its position in shares of AZZ by 69.4% in the 2nd quarter. CWM LLC now owns 459 shares of the industrial products company’s stock worth $35,000 after purchasing an additional 188 shares during the period. Point72 DIFC Ltd purchased a new stake in shares of AZZ in the 2nd quarter worth approximately $52,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of AZZ in the 2nd quarter worth approximately $67,000. Finally, 1620 Investment Advisors Inc. purchased a new stake in shares of AZZ in the 2nd quarter worth approximately $72,000. 90.93% of the stock is owned by hedge funds and other institutional investors.

AZZ Stock Performance

Shares of NYSE:AZZ opened at $80.89 on Thursday. AZZ has a 52 week low of $44.83 and a 52 week high of $88.67. The stock has a market capitalization of $2.41 billion, a P/E ratio of 75.60, a PEG ratio of 1.18 and a beta of 1.23. The firm has a fifty day simple moving average of $79.32 and a two-hundred day simple moving average of $78.84. The company has a quick ratio of 1.28, a current ratio of 1.89 and a debt-to-equity ratio of 1.36.

AZZ (NYSE:AZZ) last issued its quarterly earnings data on Wednesday, October 9th. The industrial products company reported $1.37 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 18.19%. The business had revenue of $409.01 million during the quarter, compared to analysts’ expectations of $409.50 million. During the same period last year, the company posted $1.27 EPS. The business’s revenue was up 2.6% on a year-over-year basis. On average, analysts expect that AZZ will post 4.95 earnings per share for the current fiscal year.

AZZ Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Friday, October 18th will be given a $0.17 dividend. The ex-dividend date of this dividend is Friday, October 18th. This represents a $0.68 annualized dividend and a yield of 0.84%. AZZ’s dividend payout ratio (DPR) is 63.55%.

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.