AZZ Inc. (NYSE:AZZ) Receives $96.80 Average Target Price from Analysts

AZZ Inc. (NYSE:AZZ) has earned a consensus rating of “Moderate Buy” from the seven analysts that are covering the stock, MarketBeat reports. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $96.80.

Separately, Jefferies Financial Group boosted their price objective on AZZ from $105.00 to $110.00 and gave the company a “buy” rating in a report on Friday, December 6th.

Institutional Investors Weigh In On AZZ

A number of institutional investors and hedge funds have recently made changes to their positions in AZZ. CWM LLC raised its holdings in shares of AZZ by 51.2% in the 3rd quarter. CWM LLC now owns 694 shares of the industrial products company’s stock valued at $57,000 after purchasing an additional 235 shares in the last quarter. Farther Finance Advisors LLC raised its stake in AZZ by 3,790.0% in the third 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. Hsbc Holdings PLC lifted its holdings in AZZ by 11.5% during the 2nd quarter. Hsbc Holdings PLC now owns 3,971 shares of the industrial products company’s stock worth $309,000 after buying an additional 409 shares during the last quarter. Riverwater Partners LLC boosted its position in shares of AZZ by 2.8% during the 3rd quarter. Riverwater Partners LLC now owns 15,155 shares of the industrial products company’s stock worth $1,222,000 after acquiring an additional 413 shares in the last quarter. Finally, KBC Group NV increased its holdings in shares of AZZ by 50.8% in the 4th quarter. KBC Group NV now owns 1,244 shares of the industrial products company’s stock valued at $102,000 after acquiring an additional 419 shares during the last quarter. 90.93% of the stock is owned by hedge funds and other institutional investors.

AZZ Stock Performance

AZZ opened at $86.89 on Friday. The firm’s 50-day moving average price is $88.13 and its 200-day moving average price is $82.73. The company has a market cap of $2.60 billion, a P/E ratio of 58.71, a price-to-earnings-growth ratio of 1.22 and a beta of 1.30. The company has a quick ratio of 1.26, a current ratio of 1.77 and a debt-to-equity ratio of 0.85. AZZ has a 52-week low of $62.02 and a 52-week high of $97.98.

AZZ (NYSE:AZZ) last issued its earnings results on Tuesday, January 7th. The industrial products company reported $1.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.29 by $0.10. The company had revenue of $403.65 million during the quarter, compared to analyst estimates of $394.30 million. AZZ had a return on equity of 16.99% and a net margin of 7.94%. The firm’s quarterly revenue was up 5.8% on a year-over-year basis. During the same quarter last year, the business posted $1.19 EPS. As a group, equities analysts anticipate that AZZ will post 5.13 EPS for the current fiscal year.

AZZ Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 20th. Shareholders of record on Thursday, January 30th will be given a $0.17 dividend. The ex-dividend date of this dividend is Thursday, January 30th. This represents a $0.68 dividend on an annualized basis and a yield of 0.78%. AZZ’s dividend payout ratio is currently 45.95%.

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.