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

AZZ Inc. (NYSE:AZZ) has earned an average recommendation of “Moderate Buy” from the seven brokerages that are covering the company, Marketbeat reports. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $96.80.

Separately, Jefferies Financial Group increased their price target 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.

AZZ Price Performance

AZZ stock opened at $85.14 on Tuesday. The company has a market cap of $2.54 billion, a price-to-earnings ratio of 66.52, a PEG ratio of 1.33 and a beta of 1.30. The company has a current ratio of 1.85, a quick ratio of 1.32 and a debt-to-equity ratio of 0.91. The firm has a 50 day moving average of $86.87 and a 200-day moving average of $81.79. AZZ has a 12-month low of $55.78 and a 12-month high of $97.98.

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

Institutional Investors Weigh In On AZZ

Several hedge funds have recently modified their holdings of AZZ. Wellington Management Group LLP purchased a new position in shares of AZZ during the third quarter valued at approximately $61,139,000. FMR LLC lifted its stake in shares of AZZ by 13.6% during the 3rd 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 during the period. Federated Hermes Inc. boosted its holdings in shares of AZZ by 81,999.5% during the second quarter. Federated Hermes Inc. now owns 153,526 shares of the industrial products company’s stock worth $11,860,000 after purchasing an additional 153,339 shares during the last quarter. Nordea Investment Management AB purchased a new stake in shares of AZZ in the fourth quarter valued at $7,798,000. Finally, Millennium Management LLC increased its stake in AZZ by 1,822.5% in the second quarter. Millennium Management LLC now owns 72,650 shares of the industrial products company’s stock valued at $5,612,000 after purchasing an additional 68,871 shares during the last quarter. 90.93% of the stock is owned by institutional investors and hedge funds.

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.