Zacks: AZZ Inc. (AZZ) Receives Average Rating of “Hold” from Brokerages

AZZ Inc. (NYSE:AZZ) has earned an average broker rating score of 3.00 (Hold) from the one analysts that cover the stock, Zacks Investment Research reports. One investment analyst has rated the stock with a hold recommendation.

Brokerages have set a twelve-month consensus price target of $52.00 for the company and are predicting that the company will post $0.62 EPS for the current quarter, according to Zacks. Zacks has also given AZZ an industry rank of 192 out of 265 based on the ratings given to related companies.

Several brokerages have weighed in on AZZ. BidaskClub lowered shares of AZZ from a “hold” rating to a “sell” rating in a report on Friday, July 28th. Zacks Investment Research lowered shares of AZZ from a “hold” rating to a “strong sell” rating in a report on Thursday, September 28th. Finally, Stifel Nicolaus decreased their price target on shares of AZZ from $56.00 to $52.00 and set a “hold” rating for the company in a report on Wednesday, September 27th.

Shares of AZZ (NYSE AZZ) remained flat at $$44.75 during mid-day trading on Friday. The company’s stock had a trading volume of 99,045 shares, compared to its average volume of 102,715. The company has a market capitalization of $1,161.77, a price-to-earnings ratio of 22.72 and a beta of 1.56. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.43 and a current ratio of 2.57. AZZ has a 12 month low of $43.17 and a 12 month high of $67.70.

AZZ (NYSE:AZZ) last announced its quarterly earnings data on Tuesday, October 3rd. The industrial products company reported $0.32 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.41 by ($0.09). The company had revenue of $190.40 million for the quarter, compared to analyst estimates of $193.70 million. AZZ had a return on equity of 9.65% and a net margin of 6.27%. AZZ’s revenue was down 2.4% on a year-over-year basis. During the same period in the prior year, the business earned $0.55 earnings per share. sell-side analysts anticipate that AZZ will post 1.99 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 1st. Stockholders of record on Wednesday, October 18th were issued a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 1.52%. The ex-dividend date of this dividend was Tuesday, October 17th. AZZ’s dividend payout ratio (DPR) is presently 34.52%.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Pinebridge Investments L.P. boosted its holdings in shares of AZZ by 1.3% in the 2nd quarter. Pinebridge Investments L.P. now owns 3,431 shares of the industrial products company’s stock valued at $191,000 after buying an additional 45 shares during the period. Arizona State Retirement System boosted its holdings in shares of AZZ by 0.7% in the 2nd quarter. Arizona State Retirement System now owns 13,616 shares of the industrial products company’s stock valued at $760,000 after buying an additional 100 shares during the period. Amalgamated Bank boosted its holdings in shares of AZZ by 4.9% in the 2nd quarter. Amalgamated Bank now owns 3,595 shares of the industrial products company’s stock valued at $201,000 after buying an additional 167 shares during the period. Wells Fargo & Company MN boosted its holdings in shares of AZZ by 1.0% in the 2nd quarter. Wells Fargo & Company MN now owns 19,626 shares of the industrial products company’s stock valued at $1,095,000 after buying an additional 197 shares during the period. Finally, Texas Permanent School Fund boosted its holdings in shares of AZZ by 1.2% in the 2nd quarter. Texas Permanent School Fund now owns 19,013 shares of the industrial products company’s stock valued at $1,061,000 after buying an additional 222 shares during the period. 86.48% of the stock is owned by institutional investors and hedge funds.

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AZZ Company Profile

AZZ Inc is a provider of galvanizing services, welding solutions, specialty electrical equipment and engineered services to the power generation, transmission, distribution, refining and industrial markets. The Company operates through two segments: Energy segment and Galvanizing segment. Its Energy segment provides products and services designed to support industrial, nuclear and electrical applications.

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