AZZ (NYSE:AZZ) Given New $111.00 Price Target at B. Riley

AZZ (NYSE:AZZ) had its target price raised by B. Riley from $99.00 to $111.00 in a research note issued to investors on Tuesday morning,Benzinga reports. They currently have a buy rating on the industrial products company’s stock.

A number of other brokerages also recently issued reports on AZZ. Jefferies Financial Group boosted their price objective on AZZ from $105.00 to $110.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Roth Mkm started coverage on AZZ in a research note on Tuesday. They issued a “buy” rating and a $108.00 price objective on the stock. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, AZZ has an average rating of “Moderate Buy” and an average price target of $100.67.

AZZ Stock Down 0.0 %

Shares of AZZ opened at $97.53 on Tuesday. The company has a market capitalization of $2.91 billion, a PE ratio of 65.90, a PEG ratio of 1.33 and a beta of 1.30. AZZ has a 12 month low of $67.32 and a 12 month high of $98.67. The stock’s 50-day moving average price is $87.70 and its two-hundred day moving average price is $83.29. The company has a current ratio of 1.77, a quick ratio of 1.26 and a debt-to-equity ratio of 0.85.

AZZ (NYSE:AZZ) last announced its quarterly earnings data on Tuesday, January 7th. The industrial products company reported $1.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.29 by $0.10. The company had revenue of $403.65 million for the quarter, compared to the consensus estimate of $394.30 million. AZZ had a return on equity of 16.99% and a net margin of 7.94%. The firm’s revenue was up 5.8% compared to the same quarter last year. During the same period in the previous year, the business earned $1.19 EPS. On average, analysts anticipate that AZZ will post 5.13 EPS for the current year.

AZZ Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, February 20th. Investors of record on Thursday, January 30th will be given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 0.70%. The ex-dividend date is Thursday, January 30th. AZZ’s payout ratio is 45.95%.

Institutional Trading of AZZ

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Wellington Management Group LLP bought a new stake in AZZ during the 3rd quarter worth approximately $61,139,000. FMR LLC increased its holdings in AZZ by 13.6% during the 3rd quarter. FMR LLC now owns 3,223,391 shares of the industrial products company’s stock worth $266,284,000 after purchasing an additional 385,240 shares in the last quarter. Nordea Investment Management AB bought a new stake in AZZ during the 4th quarter worth approximately $7,798,000. Raymond James Financial Inc. bought a new stake in AZZ during the 4th quarter worth approximately $5,052,000. Finally, Asset Management One Co. Ltd. bought a new stake in AZZ during the 4th quarter worth approximately $4,037,000. 90.93% of the stock is 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.