Stifel Nicolaus Reiterates Hold Rating for AZZ Inc. (AZZ)

Stifel Nicolaus reissued their hold rating on shares of AZZ Inc. (NYSE:AZZ) in a report released on Thursday, September 7th. The firm currently has a $56.00 price target on the industrial products company’s stock.

Other equities research analysts also recently issued reports about the stock. BidaskClub downgraded shares of AZZ from a hold rating to a sell rating in a research report on Friday, July 28th. Zacks Investment Research upgraded shares of AZZ from a strong sell rating to a hold rating in a research report on Wednesday, June 21st. Finally, TheStreet downgraded shares of AZZ from a b rating to a c+ rating in a research report on Friday, July 7th.

Shares of AZZ (NYSE AZZ) opened at 51.05 on Thursday. The company has a market capitalization of $1.33 billion, a price-to-earnings ratio of 25.14 and a beta of 1.58. The stock has a 50 day moving average price of $48.97 and a 200 day moving average price of $54.37. AZZ has a 1-year low of $46.20 and a 1-year high of $67.70.

AZZ (NYSE:AZZ) last released its quarterly earnings results on Thursday, July 6th. The industrial products company reported $0.51 earnings per share for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.19). AZZ had a net margin of 6.44% and a return on equity of 10.98%. The business had revenue of $208.60 million during the quarter, compared to analyst estimates of $225.08 million. During the same quarter in the previous year, the firm posted $0.81 earnings per share. The firm’s quarterly revenue was down 14.1% on a year-over-year basis. Analysts forecast that AZZ will post $2.62 earnings per share for the current year.

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In related news, CFO Paul Wesley Fehlman bought 1,500 shares of the firm’s stock in a transaction on Tuesday, July 11th. The shares were purchased at an average price of $49.31 per share, with a total value of $73,965.00. Following the completion of the purchase, the chief financial officer now owns 9,287 shares in the company, valued at approximately $457,941.97. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Thomas E. Ferguson bought 5,000 shares of the firm’s stock in a transaction on Tuesday, July 11th. The shares were bought at an average cost of $49.59 per share, for a total transaction of $247,950.00. Following the purchase, the insider now owns 49,037 shares of the company’s stock, valued at approximately $2,431,744.83. The disclosure for this purchase can be found here. Company insiders own 0.01% of the company’s stock.

Large investors have recently modified their holdings of the company. JPMorgan Chase & Co. lifted its holdings in shares of AZZ by 1,348.3% during the first quarter. JPMorgan Chase & Co. now owns 9,240 shares of the industrial products company’s stock worth $549,000 after purchasing an additional 8,602 shares during the period. Vanguard Group Inc. lifted its holdings in shares of AZZ by 4.5% during the first quarter. Vanguard Group Inc. now owns 2,286,980 shares of the industrial products company’s stock worth $136,076,000 after purchasing an additional 97,870 shares during the period. Van Berkom & Associates Inc. lifted its holdings in shares of AZZ by 7.6% during the second quarter. Van Berkom & Associates Inc. now owns 971,332 shares of the industrial products company’s stock worth $54,200,000 after purchasing an additional 68,910 shares during the period. First Trust Advisors LP lifted its holdings in AZZ by 33.4% in the first quarter. First Trust Advisors LP now owns 115,195 shares of the industrial products company’s stock valued at $6,854,000 after buying an additional 28,823 shares during the period. Finally, Mason Street Advisors LLC lifted its holdings in AZZ by 6.8% in the first quarter. Mason Street Advisors LLC now owns 6,069 shares of the industrial products company’s stock valued at $361,000 after buying an additional 385 shares during the period. Institutional investors own 85.34% of the company’s stock.

About AZZ

AZZ Inc is a provider of galvanizing services, welding solutions, specialty electrical equipment and engineered services to the power generation, transmission, distribution, refining and industrial markets. The Company operates through two segments: Energy segment and Galvanizing segment. Its Energy segment provides products and services designed to support industrial, nuclear and electrical applications.

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