AZZ (NYSE:AZZ) Upgraded at Roth Capital

AZZ (NYSE:AZZ) was upgraded by equities research analysts at Roth Capital to a “strong-buy” rating in a report issued on Tuesday,Zacks.com reports.

Other analysts have also issued research reports about the company. B. Riley increased their price objective on AZZ from $99.00 to $111.00 and gave the company a “buy” rating in a report on Tuesday. Roth Mkm initiated coverage on AZZ in a research note on Tuesday. They issued a “buy” rating and a $108.00 price target for the company. Finally, Jefferies Financial Group increased their price objective on shares of AZZ from $105.00 to $110.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Four equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $100.67.

AZZ Stock Down 0.0 %

Shares of NYSE AZZ opened at $97.53 on Tuesday. AZZ has a 1 year low of $67.32 and a 1 year high of $98.67. The firm has a 50-day simple moving average of $87.70 and a two-hundred day simple moving average of $83.29. The company has a market cap of $2.91 billion, a P/E ratio of 65.90, a PEG ratio of 1.33 and a beta of 1.30. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.77 and a quick ratio of 1.26.

AZZ (NYSE:AZZ) last issued its earnings results on Tuesday, January 7th. The industrial products company reported $1.39 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 the consensus estimate of $394.30 million. AZZ had a net margin of 7.94% and a return on equity of 16.99%. The company’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.19 EPS. Research analysts anticipate that AZZ will post 5.13 earnings per share for the current year.

Hedge Funds Weigh In On AZZ

Several institutional investors have recently made changes to their positions in the company. Wellington Management Group LLP purchased a new position in shares of AZZ during the 3rd quarter valued at approximately $61,139,000. FMR LLC increased its stake in shares of AZZ by 13.6% during the third quarter. FMR LLC now owns 3,223,391 shares of the industrial products company’s stock worth $266,284,000 after purchasing an additional 385,240 shares in the last quarter. Nordea Investment Management AB acquired a new position in shares of AZZ during the 4th quarter worth about $7,798,000. Raymond James Financial Inc. purchased a new position in AZZ in the 4th quarter valued at about $5,052,000. Finally, Asset Management One Co. Ltd. acquired a new stake in shares of AZZ in the fourth quarter worth approximately $4,037,000. 90.93% of the stock is owned by hedge funds and other institutional investors.

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.