AZZ (NYSE:AZZ) PT Raised to $85.00

AZZ (NYSE:AZZ) had its price target raised by research analysts at B. Riley from $67.00 to $85.00 in a note issued to investors on Tuesday, Benzinga reports. The firm presently has a “buy” rating on the industrial products company’s stock. B. Riley’s price objective points to a potential upside of 4.12% from the company’s previous close.

AZZ has been the topic of a number of other research reports. Noble Financial cut shares of AZZ from an “outperform” rating to a “market perform” rating and set a $75.00 price target on the stock. in a research note on Friday, March 22nd. StockNews.com downgraded AZZ from a “buy” rating to a “hold” rating in a research note on Friday, February 9th.

AZZ Price Performance

Shares of AZZ stock traded up $5.14 on Tuesday, reaching $81.64. The company’s stock had a trading volume of 155,139 shares, compared to its average volume of 164,665. The stock’s 50 day simple moving average is $74.74 and its 200-day simple moving average is $60.93. The company has a market capitalization of $2.05 billion, a P/E ratio of 29.55, a PEG ratio of 1.14 and a beta of 1.28. The company has a quick ratio of 1.33, a current ratio of 1.96 and a debt-to-equity ratio of 1.06. AZZ has a 12-month low of $34.59 and a 12-month high of $82.41.

AZZ (NYSE:AZZ) last released its quarterly earnings data on Monday, April 22nd. The industrial products company reported $0.93 earnings per share for the quarter, beating analysts’ consensus estimates of $0.70 by $0.23. AZZ had a return on equity of 13.15% and a net margin of 5.63%. The firm had revenue of $366.50 million during the quarter, compared to analyst estimates of $351.67 million. During the same quarter in the prior year, the firm posted $0.30 earnings per share. The business’s quarterly revenue was up 8.9% compared to the same quarter last year. As a group, equities analysts predict that AZZ will post 4.31 earnings per share for the current fiscal year.

Hedge Funds Weigh In On AZZ

A number of hedge funds and other institutional investors have recently modified their holdings of AZZ. FMR LLC grew its holdings in shares of AZZ by 4,211.2% in the third quarter. FMR LLC now owns 365,590 shares of the industrial products company’s stock valued at $16,664,000 after purchasing an additional 357,110 shares in the last quarter. Teacher Retirement System of Texas purchased a new position in shares of AZZ in the 3rd quarter worth $485,000. Deutsche Bank AG increased its holdings in shares of AZZ by 4,165.2% in the 3rd quarter. Deutsche Bank AG now owns 410,142 shares of the industrial products company’s stock worth $18,694,000 after buying an additional 400,526 shares during the last quarter. HighTower Advisors LLC purchased a new stake in shares of AZZ during the 3rd quarter valued at about $5,216,000. Finally, Assenagon Asset Management S.A. raised its position in shares of AZZ by 26.5% during the 3rd quarter. Assenagon Asset Management S.A. now owns 51,396 shares of the industrial products company’s stock valued at $2,343,000 after buying an additional 10,758 shares in the last quarter. Institutional investors own 90.93% of the company’s stock.

About AZZ

AZZ Inc provides hot-dip galvanizing and coil coating solutions in the United States, Canada, Brazil, China, the Netherlands, Poland, Singapore, and India. The company operates through AZZ Metal Coatings and AZZ Precoat Metals segments. The AZZ Metal Coatings segment offers metal finishing solutions for corrosion protection, including hot-dip galvanizing, spin galvanizing, powder coating, anodizing, and plating to steel fabrication and other industries.