AZZ (AZZ) Downgraded to “Hold” at ValuEngine

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ValuEngine cut shares of AZZ (NYSE:AZZ) from a buy rating to a hold rating in a report released on Wednesday.

A number of other research analysts have also recently commented on AZZ. Zacks Investment Research cut AZZ from a hold rating to a sell rating in a research note on Wednesday. Sidoti upgraded AZZ from a neutral rating to a buy rating and set a $54.00 price target on the stock in a research note on Monday, October 29th. TheStreet cut AZZ from a b- rating to a c+ rating in a research note on Monday, October 8th. Finally, Stifel Nicolaus restated a hold rating and set a $52.00 price target on shares of AZZ in a research note on Tuesday, December 11th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the stock. The stock has a consensus rating of Hold and an average price target of $56.00.

AZZ opened at $42.49 on Wednesday. AZZ has a one year low of $39.50 and a one year high of $56.05. The company has a market capitalization of $1.11 billion, a P/E ratio of 31.47 and a beta of 1.40. The company has a debt-to-equity ratio of 0.50, a quick ratio of 2.13 and a current ratio of 3.14.

AZZ (NYSE:AZZ) last released its quarterly earnings data on Tuesday, October 9th. The industrial products company reported $0.43 EPS for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.04). AZZ had a net margin of 5.63% and a return on equity of 5.43%. The business had revenue of $222.80 million during the quarter, compared to analyst estimates of $224.50 million. During the same quarter in the prior year, the company posted $0.32 earnings per share. The company’s revenue was up 13.5% on a year-over-year basis. As a group, analysts anticipate that AZZ will post 2.15 EPS for the current year.

In related news, insider Thomas E. Ferguson acquired 5,000 shares of the business’s stock in a transaction dated Monday, October 22nd. The shares were acquired at an average price of $45.77 per share, with a total value of $228,850.00. Following the completion of the transaction, the insider now owns 62,099 shares of the company’s stock, valued at $2,842,271.23. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Paul Wesley Fehlman acquired 1,000 shares of the business’s stock in a transaction dated Monday, October 22nd. The shares were bought at an average cost of $45.48 per share, for a total transaction of $45,480.00. Following the transaction, the chief financial officer now directly owns 12,755 shares of the company’s stock, valued at approximately $580,097.40. The disclosure for this purchase can be found here. 0.01% of the stock is owned by corporate insiders.

Institutional investors have recently bought and sold shares of the company. Quantbot Technologies LP purchased a new stake in shares of AZZ during the third quarter worth $178,000. United Services Automobile Association purchased a new stake in shares of AZZ during the third quarter worth $202,000. Laurion Capital Management LP purchased a new stake in shares of AZZ during the third quarter worth $217,000. Crossmark Global Holdings Inc. purchased a new stake in shares of AZZ during the third quarter worth $219,000. Finally, OMERS ADMINISTRATION Corp purchased a new stake in shares of AZZ during the second quarter worth $213,000. 89.73% of the stock is currently owned by institutional investors and hedge funds.

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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To view ValuEngine’s full report, visit ValuEngine’s official website.

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