AZZ Inc. (NYSE:AZZ) Receives $96.80 Consensus Target Price from Analysts

AZZ Inc. (NYSE:AZZ) has received a consensus rating of “Moderate Buy” from the seven brokerages that are presently covering the stock, MarketBeat.com reports. Three investment analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $96.80.

Separately, Jefferies Financial Group lifted their target price on shares of AZZ from $105.00 to $110.00 and gave the stock a “buy” rating in a report on Friday, December 6th.

AZZ Stock Performance

Shares of NYSE AZZ opened at $85.22 on Tuesday. The business’s 50-day simple moving average is $86.73 and its 200-day simple moving average is $81.72. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.32 and a current ratio of 1.85. AZZ has a 52 week low of $55.78 and a 52 week high of $97.98. The firm has a market cap of $2.55 billion, a price-to-earnings ratio of 66.58, a P/E/G ratio of 1.33 and a beta of 1.30.

AZZ (NYSE:AZZ) last announced its quarterly earnings results on Wednesday, October 9th. The industrial products company reported $1.37 EPS for the quarter, beating the consensus estimate of $1.32 by $0.05. AZZ had a return on equity of 16.88% and a net margin of 7.63%. The company had revenue of $409.01 million for the quarter, compared to the consensus estimate of $409.50 million. During the same quarter last year, the company posted $1.27 earnings per share. The company’s revenue for the quarter was up 2.6% compared to the same quarter last year. As a group, equities research analysts expect that AZZ will post 5.08 earnings per share for the current fiscal year.

Hedge Funds Weigh In On AZZ

A number of institutional investors and hedge funds have recently bought and sold shares of AZZ. Principal Financial Group Inc. grew its position in AZZ by 6.8% in the 3rd quarter. Principal Financial Group Inc. now owns 157,418 shares of the industrial products company’s stock worth $13,004,000 after purchasing an additional 10,038 shares during the last quarter. Tidal Investments LLC lifted its stake in shares of AZZ by 22.4% in the third quarter. Tidal Investments LLC now owns 20,073 shares of the industrial products company’s stock valued at $1,658,000 after buying an additional 3,673 shares during the period. Geode Capital Management LLC lifted its stake in shares of AZZ by 1.5% in the third quarter. Geode Capital Management LLC now owns 675,603 shares of the industrial products company’s stock valued at $55,823,000 after buying an additional 10,072 shares during the period. Barclays PLC grew its position in AZZ by 389.1% during the third quarter. Barclays PLC now owns 51,458 shares of the industrial products company’s stock worth $4,250,000 after buying an additional 40,938 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd bought a new position in AZZ during the third quarter valued at about $448,000. 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.