AZZ (NYSE:AZZ) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of AZZ (NYSE:AZZ) from a hold rating to a buy rating in a report issued on Saturday,Wall Street Zen reports.

Other equities research analysts also recently issued research reports about the stock. Weiss Ratings reaffirmed a “buy (b)” rating on shares of AZZ in a research note on Tuesday, October 6th. Wells Fargo & Company increased their price objective on shares of AZZ from $144.00 to $145.00 and gave the company an “equal weight” rating in a research report on Thursday, October 15th. Robert W. Baird dropped their price objective on shares of AZZ from $155.00 to $150.00 and set a “neutral” rating for the company in a research note on Thursday, October 15th. Barclays lifted their price objective on shares of AZZ from $140.00 to $145.00 and gave the stock an “equal weight” rating in a research note on Thursday. Finally, B. Riley Financial boosted their target price on shares of AZZ from $170.00 to $174.00 and gave the stock a “buy” rating in a report on Thursday. Four research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $153.20.

AZZ Stock Performance

NYSE AZZ opened at $134.25 on Friday. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.79 and a quick ratio of 1.27. AZZ has a 1-year low of $94.61 and a 1-year high of $162.20. The business has a 50 day simple moving average of $138.68 and a two-hundred day simple moving average of $142.25. The stock has a market capitalization of $4.02 billion, a PE ratio of 24.19 and a beta of 1.13.

AZZ (NYSE:AZZ) last issued its quarterly earnings data on Tuesday, October 13th. The industrial products company reported $2.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.88 by $0.12. The business had revenue of $486.89 million for the quarter, compared to analysts’ expectations of $467.14 million. AZZ had a return on equity of 14.85% and a net margin of 9.59%. The company’s revenue for the quarter was up 16.7% on a year-over-year basis. During the same period in the prior year, the firm earned $1.55 EPS. AZZ has set its FY 2027 guidance at 7.000-7.300 EPS. On average, research analysts predict that AZZ will post 7.11 EPS for the current fiscal year.

AZZ Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 5th. Stockholders of record on Monday, October 19th will be paid a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend is Monday, October 19th. AZZ’s dividend payout ratio (DPR) is presently 17.30%.

Insider Activity at AZZ

In other news, COO Bryan Lee Stovall sold 2,677 shares of AZZ stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $150.07, for a total value of $401,737.39. Following the completion of the transaction, the chief operating officer owned 35,000 shares in the company, valued at approximately $5,252,450. The trade was a 7.11% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Jeffrey Vellines sold 4,220 shares of AZZ stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $153.55, for a total value of $647,981.00. Following the completion of the transaction, the chief operating officer owned 1,834 shares of the company’s stock, valued at approximately $281,610.70. This trade represents a 69.71% decrease in their position. The SEC filing for this sale provides additional information. 1.70% of the stock is owned by company insiders.

Institutional Trading of AZZ

Institutional investors have recently bought and sold shares of the stock. BlackRock Inc. purchased a new position in shares of AZZ during the 2nd quarter worth about $719,876,000. SEB Asset Management AB bought a new position in AZZ during the 1st quarter valued at about $45,297,000. Bank of New York Mellon Corp bought a new position in AZZ during the 2nd quarter valued at about $35,818,000. Bank of America Corp DE purchased a new stake in AZZ in the 2nd quarter worth about $32,505,000. Finally, Jupiter Topco LLC purchased a new stake in AZZ in the 2nd quarter worth about $14,588,000. 90.93% of the stock is currently owned by institutional investors.

About AZZ

AZZ Inc is a provider of metal coating solutions serving customers primarily in North America. The company operates through its Metal Coatings and Precoat Metals segments, helping protect and enhance the performance, appearance, and durability of steel and other metal products used across a range of industries.

Through its Metal Coatings segment, AZZ provides hot-dip galvanizing, powder coating, anodizing, plating, and related coating services. These treatments are used for corrosion protection and finishing applications involving infrastructure, construction, industrial, transportation, and other metal products.

Precoat Metals provides coil coating services for steel and aluminum products before they are fabricated.