AZZ Inc. (NYSE:AZZ) Receives $100.67 Consensus Price Target from Analysts

AZZ Inc. (NYSE:AZZ) has been given an average rating of “Moderate Buy” by the nine research firms that are covering the company, Marketbeat reports. Three research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $100.67.

Several equities analysts recently issued reports on the stock. Roth Capital raised shares of AZZ to a “strong-buy” rating in a research note on Tuesday, February 11th. Jefferies Financial Group raised their price objective on shares of AZZ from $105.00 to $110.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Roth Mkm initiated coverage on shares of AZZ in a report on Tuesday, February 11th. They issued a “buy” rating and a $108.00 price target for the company. Finally, B. Riley boosted their target price on shares of AZZ from $99.00 to $111.00 and gave the company a “buy” rating in a research note on Tuesday, February 11th.

Hedge Funds Weigh In On AZZ

Several large investors have recently bought and sold shares of the stock. FMR LLC grew 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 acquiring an additional 385,240 shares during the last quarter. T. Rowe Price Investment Management Inc. grew its stake in shares of AZZ by 4.8% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 2,729,287 shares of the industrial products company’s stock worth $223,584,000 after acquiring an additional 124,392 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of AZZ by 2.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,110,831 shares of the industrial products company’s stock valued at $90,999,000 after buying an additional 29,306 shares in the last quarter. State Street Corp grew its stake in shares of AZZ by 2.6% in the third quarter. State Street Corp now owns 1,100,189 shares of the industrial products company’s stock valued at $90,887,000 after buying an additional 27,710 shares in the last quarter. Finally, Wellington Management Group LLP boosted its position in AZZ by 19.2% during the fourth quarter. Wellington Management Group LLP now owns 882,308 shares of the industrial products company’s stock worth $72,279,000 after purchasing an additional 142,215 shares during the period. 90.93% of the stock is currently owned by institutional investors and hedge funds.

AZZ Price Performance

Shares of NYSE:AZZ opened at $94.70 on Wednesday. The company’s fifty day moving average price is $88.22 and its 200 day moving average price is $84.32. AZZ has a 12 month low of $69.59 and a 12 month high of $99.49. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.77 and a quick ratio of 1.26. The firm has a market capitalization of $2.83 billion, a P/E ratio of 63.99, a P/E/G ratio of 1.37 and a beta of 1.30.

AZZ (NYSE:AZZ) last issued its quarterly 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 business had revenue of $403.65 million for the quarter, compared to analyst estimates of $394.30 million. AZZ had a net margin of 7.94% and a return on equity of 16.99%. The business’s revenue was up 5.8% compared to the same quarter last year. During the same period in the previous year, the business posted $1.19 earnings per share. As a group, sell-side analysts predict that AZZ will post 5.13 earnings per share for the current fiscal year.

AZZ Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Thursday, January 30th were paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 0.72%. The ex-dividend date was Thursday, January 30th. AZZ’s 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.