Zacks: AZZ Inc (NYSE:AZZ) Receives Average Rating of “Buy” from Analysts

AZZ Inc (NYSE:AZZ) has been assigned an average broker rating score of 2.00 (Buy) from the two analysts that cover the company, Zacks Investment Research reports. One research analyst has rated the stock with a hold recommendation and one has assigned a strong buy recommendation to the company.

Brokers have set a twelve-month consensus price objective of $48.00 for the company and are predicting that the company will post $0.71 earnings per share for the current quarter, according to Zacks. Zacks has also assigned AZZ an industry rank of 178 out of 256 based on the ratings given to related companies.

Separately, Zacks Investment Research upgraded shares of AZZ from a “hold” rating to a “buy” rating and set a $47.00 price target on the stock in a research note on Monday, June 3rd.

Institutional investors and hedge funds have recently made changes to their positions in the stock. NumerixS Investment Technologies Inc acquired a new position in AZZ in the 4th quarter valued at about $36,000. Avestar Capital LLC acquired a new position in AZZ in the 1st quarter valued at about $40,000. Covington Capital Management acquired a new position in AZZ in the 4th quarter valued at about $59,000. Bank of Montreal Can grew its stake in AZZ by 19.0% in the 1st quarter. Bank of Montreal Can now owns 1,618 shares of the industrial products company’s stock valued at $66,000 after buying an additional 258 shares during the last quarter. Finally, Meeder Asset Management Inc. acquired a new position in AZZ in the 1st quarter valued at about $93,000. Institutional investors and hedge funds own 86.65% of the company’s stock.

AZZ stock opened at $43.91 on Friday. The stock has a market cap of $1.15 billion, a PE ratio of 22.40 and a beta of 1.44. AZZ has a fifty-two week low of $37.43 and a fifty-two week high of $56.05. The company has a current ratio of 2.30, a quick ratio of 1.54 and a debt-to-equity ratio of 0.07.

AZZ (NYSE:AZZ) last released its quarterly earnings data on Monday, May 20th. The industrial products company reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.46 by ($0.12). The firm had revenue of $202.50 million for the quarter, compared to analyst estimates of $223.29 million. AZZ had a return on equity of 8.67% and a net margin of 5.52%. The business’s revenue was up .9% on a year-over-year basis. Research analysts expect that AZZ will post 2.59 EPS for the current fiscal year.

AZZ Company Profile

AZZ Inc provides galvanizing and metal coating services, welding solutions, specialty electrical equipment, and highly engineered services to the power generation, transmission, distribution, refining, and industrial markets. The company operates through two segments, Energy Segment and Metal Coatings.

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