AZZ Inc. (NYSE:AZZ) Receives $95.80 Average Price Target from Analysts

by · The Markets Daily

Shares of AZZ Inc. (NYSE:AZZ – Get Free Report) have been assigned an average recommendation of “Moderate Buy” from the seven research firms that are presently covering the stock, 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 1-year price target among brokerages that have issued a report on the stock in the last year is $95.80.

A number of brokerages have recently issued reports on AZZ. B. Riley boosted their price objective on AZZ from $89.00 to $99.00 and gave the stock a “buy” rating in a report on Wednesday, July 17th. Wolfe Research began coverage on AZZ in a report on Wednesday, July 31st. They set a “peer perform” rating for the company. Robert W. Baird initiated coverage on AZZ in a report on Tuesday, July 23rd. They issued a “neutral” rating and a $90.00 price objective on the stock. Finally, Baird R W raised AZZ to a “hold” rating in a report on Tuesday, July 23rd.

Check Out Our Latest Research Report on AZZ

AZZ Stock Down 0.9 %

AZZ stock opened at $77.64 on Thursday. AZZ has a 1-year low of $44.83 and a 1-year high of $88.67. The business’s 50 day simple moving average is $79.52 and its 200 day simple moving average is $78.88. The company has a current ratio of 1.89, a quick ratio of 1.28 and a debt-to-equity ratio of 1.36. The firm has a market capitalization of $2.31 billion, a PE ratio of 72.56, a PEG ratio of 1.18 and a beta of 1.23.

AZZ (NYSE:AZZ – Get Free Report) last released its quarterly earnings data on Wednesday, October 9th. The industrial products company reported $1.37 EPS for the quarter, beating the consensus estimate of $1.32 by $0.05. The firm had revenue of $409.01 million for the quarter, compared to the consensus estimate of $409.50 million. AZZ had a net margin of 7.63% and a return on equity of 18.19%. The company’s quarterly revenue 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. As a group, research analysts anticipate that AZZ will post 4.95 EPS for the current year.

AZZ Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Friday, October 18th will be issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 0.88%. The ex-dividend date is Friday, October 18th. AZZ’s dividend payout ratio (DPR) is currently 63.55%.

Hedge Funds Weigh In On AZZ

Hedge funds have recently bought and sold shares of the company. Foundations Investment Advisors LLC bought a new stake in AZZ during the third quarter worth $229,000. nVerses Capital LLC bought a new stake in shares of AZZ during the 3rd quarter worth $116,000. Procyon Advisors LLC acquired a new stake in AZZ in the third quarter valued at about $256,000. CWM LLC grew its position in AZZ by 51.2% in the third quarter. CWM LLC now owns 694 shares of the industrial products company’s stock valued at $57,000 after acquiring an additional 235 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new position in AZZ during the third quarter worth about $1,269,000. 90.93% of the stock is owned by institutional investors.

About AZZ

(Get Free Report

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.

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