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

Shares of AZZ Inc. (NYSE:AZZ) have received a consensus rating of “Moderate Buy” from the nine brokerages that are presently covering the company, Marketbeat reports. Three research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among analysts that have covered the stock in the last year is $100.67.

A number of equities research analysts have commented on AZZ shares. Roth Mkm assumed coverage on AZZ in a research report on Tuesday, February 11th. They issued a “buy” rating and a $108.00 target price on the stock. B. Riley upped their target price on shares of AZZ from $99.00 to $111.00 and gave the company a “buy” rating in a research report on Tuesday, February 11th. Noble Financial reaffirmed an “outperform” rating on shares of AZZ in a research note on Thursday, March 6th. Jefferies Financial Group boosted their price target on shares of AZZ from $105.00 to $110.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Finally, Roth Capital upgraded shares of AZZ to a “strong-buy” rating in a research note on Tuesday, February 11th.

Hedge Funds Weigh In On AZZ

A number of institutional investors and hedge funds have recently modified their holdings of AZZ. FMR LLC boosted its position in shares of 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 in the last quarter. T. Rowe Price Investment Management Inc. lifted its stake in AZZ by 4.8% during the fourth 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 purchasing an additional 124,392 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in 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 purchasing an additional 29,306 shares in the last quarter. State Street Corp boosted its holdings in 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 purchasing an additional 27,710 shares in the last quarter. Finally, Wellington Management Group LLP increased its stake in AZZ by 19.2% in the fourth quarter. Wellington Management Group LLP now owns 882,308 shares of the industrial products company’s stock valued at $72,279,000 after purchasing an additional 142,215 shares during the last quarter. Institutional investors and hedge funds own 90.93% of the company’s stock.

AZZ Price Performance

NYSE:AZZ opened at $83.62 on Friday. AZZ has a one year low of $69.59 and a one year high of $99.49. The stock has a market cap of $2.50 billion, a PE ratio of 56.50, a P/E/G ratio of 1.32 and a beta of 1.27. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.26 and a current ratio of 1.77. The stock has a 50 day moving average price of $90.46 and a 200 day moving average price of $85.87.

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, beating the consensus estimate of $1.29 by $0.10. AZZ had a return on equity of 16.99% and a net margin of 7.94%. The company had revenue of $403.65 million during the quarter, compared to analysts’ expectations of $394.30 million. During the same period in the prior year, the business earned $1.19 EPS. The firm’s quarterly revenue was up 5.8% on a year-over-year basis. Equities research analysts expect that AZZ will post 5.13 EPS for the current fiscal year.

AZZ Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Thursday, January 30th were issued a $0.17 dividend. The ex-dividend date was Thursday, January 30th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.81%. AZZ’s payout ratio is 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.