AZZ Inc. (NYSE:AZZ) Receives $95.80 Consensus PT from Brokerages

AZZ Inc. (NYSE:AZZ) has been assigned an average rating of “Moderate Buy” from the seven brokerages that are covering the firm, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12 month price target among analysts that have covered the stock in the last year is $95.80.

Several equities research analysts have recently commented on AZZ shares. B. Riley upped their target price on AZZ from $89.00 to $99.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. Baird R W upgraded shares of AZZ to a “hold” rating in a research report on Tuesday, July 23rd. Noble Financial upgraded AZZ from a “market perform” rating to an “outperform” rating and set a $95.00 price target on the stock in a report on Tuesday, June 11th. Jefferies Financial Group initiated coverage on AZZ in a report on Monday, May 20th. They issued a “buy” rating and a $105.00 target price on the stock. Finally, Wolfe Research began coverage on shares of AZZ in a research report on Wednesday, July 31st. They set a “peer perform” rating on the stock.

Insiders Place Their Bets

In other news, insider Tara D. Mackey sold 331 shares of the company’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $83.50, for a total transaction of $27,638.50. Following the completion of the transaction, the insider now owns 34,229 shares of the company’s stock, valued at $2,858,121.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other AZZ news, insider Tara D. Mackey sold 331 shares of the business’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $83.50, for a total value of $27,638.50. Following the sale, the insider now owns 34,229 shares of the company’s stock, valued at approximately $2,858,121.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, COO Bryan Lee Stovall sold 14,545 shares of the firm’s stock in a transaction dated Thursday, July 18th. The stock was sold at an average price of $84.79, for a total transaction of $1,233,270.55. Following the transaction, the chief operating officer now directly owns 20,000 shares of the company’s stock, valued at $1,695,800. The disclosure for this sale can be found here. Insiders have purchased 1,511 shares of company stock worth $52,794 in the last ninety days. Insiders own 2.10% of the company’s stock.

Institutional Trading of AZZ

A number of large investors have recently bought and sold shares of AZZ. Financial Synergies Wealth Advisors Inc. bought a new stake in AZZ during the 1st quarter worth approximately $32,000. CWM LLC lifted its position in AZZ by 69.4% during the 2nd quarter. CWM LLC now owns 459 shares of the industrial products company’s stock worth $35,000 after buying an additional 188 shares in the last quarter. 1620 Investment Advisors Inc. bought a new stake in AZZ during the 2nd quarter worth about $72,000. FSC Wealth Advisors LLC increased its position in AZZ by 38.6% in the 2nd quarter. FSC Wealth Advisors LLC now owns 951 shares of the industrial products company’s stock valued at $73,000 after acquiring an additional 265 shares in the last quarter. Finally, Crewe Advisors LLC bought a new position in shares of AZZ in the first quarter worth about $77,000. 90.93% of the stock is currently owned by institutional investors.

AZZ Stock Performance

AZZ stock traded down $0.25 during trading on Friday, reaching $73.97. 74,520 shares of the company’s stock were exchanged, compared to its average volume of 258,533. AZZ has a 1-year low of $43.48 and a 1-year high of $88.67. The company’s fifty day moving average price is $78.66 and its 200-day moving average price is $75.83. The company has a quick ratio of 1.28, a current ratio of 1.89 and a debt-to-equity ratio of 1.36. The firm has a market cap of $2.21 billion, a PE ratio of 69.13, a P/E/G ratio of 1.12 and a beta of 1.25.

AZZ (NYSE:AZZ) last posted its quarterly earnings data on Wednesday, July 10th. The industrial products company reported $1.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.30 by $0.16. AZZ had a net margin of 7.22% and a return on equity of 17.08%. The business had revenue of $413.21 million during the quarter, compared to analysts’ expectations of $403.25 million. During the same period last year, the firm posted $1.14 earnings per share. The business’s revenue was up 5.7% on a year-over-year basis. On average, research analysts expect that AZZ will post 4.93 EPS for the current fiscal year.

AZZ Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 31st. Investors of record on Wednesday, July 10th were paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 0.92%. The ex-dividend date was Wednesday, July 10th. AZZ’s payout ratio is currently 63.55%.

AZZ Company Profile

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.