Brokerages Set AZZ Inc. (NYSE:AZZ) PT at $96.80

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

Separately, Jefferies Financial Group increased their price objective on shares of AZZ from $105.00 to $110.00 and gave the stock a “buy” rating in a research report on Friday.

AZZ Price Performance

AZZ stock opened at $95.40 on Friday. AZZ has a 52-week low of $50.27 and a 52-week high of $97.98. The business has a fifty day moving average of $83.89 and a two-hundred day moving average of $80.91. The stock has a market cap of $2.85 billion, a price-to-earnings ratio of 74.53, a price-to-earnings-growth ratio of 1.30 and a beta of 1.30. The company has a quick ratio of 1.32, a current ratio of 1.85 and a debt-to-equity ratio of 0.91.

AZZ (NYSE:AZZ) last issued its quarterly earnings data on Wednesday, October 9th. The industrial products company reported $1.37 earnings per share (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 analyst estimates of $409.50 million. AZZ had a net margin of 7.63% and a return on equity of 16.88%. AZZ’s revenue was up 2.6% on a year-over-year basis. During the same period in the previous year, the firm earned $1.27 EPS. As a group, research analysts anticipate that AZZ will post 5.12 earnings per share for the current year.

AZZ Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Friday, October 18th were given a $0.17 dividend. The ex-dividend date was Friday, October 18th. This represents a $0.68 annualized dividend and a yield of 0.71%. AZZ’s dividend payout ratio is presently 53.13%.

Institutional Trading of AZZ

A number of large investors have recently modified their holdings of the stock. Farther Finance Advisors LLC grew its stake in AZZ by 3,790.0% during the 3rd quarter. Farther Finance Advisors LLC now owns 389 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 379 shares in the last quarter. CWM LLC lifted its stake in AZZ by 69.4% in the second quarter. CWM LLC now owns 459 shares of the industrial products company’s stock worth $35,000 after acquiring an additional 188 shares during the last quarter. Point72 DIFC Ltd acquired a new position in AZZ during the 2nd quarter worth approximately $52,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of AZZ in the 2nd quarter valued at approximately $67,000. Finally, 1620 Investment Advisors Inc. acquired a new stake in shares of AZZ in the 2nd quarter valued at $72,000. Hedge funds and other institutional investors own 90.93% of the company’s stock.

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.