AZZ (NYSE:AZZ) Research Coverage Started at Evercore ISI

Evercore ISI started coverage on shares of AZZ (NYSE:AZZ) in a research report report published on Friday morning, Marketbeat reports. The firm issued an outperform rating and a $90.00 price target on the industrial products company’s stock.

Several other equities analysts have also weighed in on AZZ. Noble Financial raised shares of AZZ from a market perform rating to an outperform rating and set a $95.00 price objective on the stock in a research report on Tuesday, June 11th. StockNews.com lowered shares of AZZ from a buy rating to a hold rating in a research report on Tuesday, May 21st. B. Riley raised their price objective on shares of AZZ from $67.00 to $85.00 and gave the company a buy rating in a research report on Tuesday, April 23rd. Finally, Jefferies Financial Group started coverage on shares of AZZ in a research report on Monday, May 20th. They set a buy rating and a $105.00 price objective on the stock. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of Moderate Buy and an average price target of $93.75.

AZZ Stock Performance

Shares of AZZ opened at $78.14 on Friday. The company has a 50-day moving average of $78.39 and a two-hundred day moving average of $69.40. The company has a debt-to-equity ratio of 1.36, a current ratio of 1.89 and a quick ratio of 1.28. The stock has a market cap of $2.33 billion, a price-to-earnings ratio of 22.78, a PEG ratio of 1.12 and a beta of 1.27. AZZ has a one year low of $38.60 and a one year high of $86.94.

AZZ (NYSE:AZZ) last posted its quarterly earnings results on Monday, April 22nd. The industrial products company reported $0.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.70 by $0.23. The business had revenue of $366.50 million during the quarter, compared to analyst estimates of $351.67 million. AZZ had a net margin of 6.61% and a return on equity of 15.66%. The firm’s revenue was up 8.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.30 earnings per share. On average, equities research analysts expect that AZZ will post 4.96 earnings per share for the current year.

AZZ Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, May 2nd. Stockholders of record on Wednesday, April 17th were given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.87%. The ex-dividend date was Tuesday, April 16th. AZZ’s dividend payout ratio is 19.83%.

Hedge Funds Weigh In On AZZ

A number of institutional investors have recently modified their holdings of the company. Delphi Management Inc. MA raised its position in shares of AZZ by 67.6% in the first quarter. Delphi Management Inc. MA now owns 21,164 shares of the industrial products company’s stock valued at $1,636,000 after purchasing an additional 8,537 shares during the period. Virtu Financial LLC bought a new position in shares of AZZ in the first quarter valued at approximately $250,000. Janus Henderson Group PLC grew its stake in shares of AZZ by 38.2% in the first quarter. Janus Henderson Group PLC now owns 16,580 shares of the industrial products company’s stock worth $1,282,000 after acquiring an additional 4,580 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of AZZ by 3.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 26,074 shares of the industrial products company’s stock worth $2,016,000 after acquiring an additional 875 shares during the last quarter. Finally, Crewe Advisors LLC acquired a new stake in shares of AZZ in the first quarter worth $77,000. Institutional investors own 90.93% of the company’s stock.

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.