AZZ Inc (AZZ) Receives Consensus Recommendation of “Buy” from Brokerages

Shares of AZZ Inc (NYSE:AZZ) have received an average broker rating score of 2.00 (Buy) from the two brokers that cover the company, Zacks Investment Research reports. One analyst has rated the stock with a hold recommendation and one has assigned a strong buy recommendation to the company.

Analysts have set a one year consensus price objective of $48.00 for the company and are expecting that the company will post $0.41 earnings per share for the current quarter, according to Zacks. Zacks has also assigned AZZ an industry rank of 179 out of 255 based on the ratings given to its competitors.

AZZ has been the subject of a number of recent analyst reports. Zacks Investment Research upgraded shares of AZZ from a “sell” rating to a “hold” rating in a report on Monday, March 18th. Stifel Nicolaus restated a “hold” rating and set a $50.00 price target on shares of AZZ in a report on Wednesday, December 19th.

A number of institutional investors have recently bought and sold shares of the stock. Legal & General Group Plc increased its holdings in AZZ by 0.5% in the 4th quarter. Legal & General Group Plc now owns 61,884 shares of the industrial products company’s stock valued at $2,499,000 after purchasing an additional 318 shares during the last quarter. Texas Permanent School Fund increased its holdings in AZZ by 4.1% in the 4th quarter. Texas Permanent School Fund now owns 17,047 shares of the industrial products company’s stock valued at $688,000 after purchasing an additional 671 shares during the last quarter. NumerixS Investment Technologies Inc acquired a new stake in AZZ in the 4th quarter valued at approximately $36,000. Great West Life Assurance Co. Can increased its holdings in AZZ by 3.6% in the 3rd quarter. Great West Life Assurance Co. Can now owns 35,894 shares of the industrial products company’s stock valued at $1,812,000 after purchasing an additional 1,241 shares during the last quarter. Finally, Principal Financial Group Inc. increased its holdings in AZZ by 0.6% in the 4th quarter. Principal Financial Group Inc. now owns 211,489 shares of the industrial products company’s stock valued at $8,536,000 after purchasing an additional 1,338 shares during the last quarter. Hedge funds and other institutional investors own 89.35% of the company’s stock.

Shares of NYSE AZZ traded up $0.70 during midday trading on Wednesday, reaching $46.13. 157,397 shares of the stock were exchanged, compared to its average volume of 114,356. The company has a market capitalization of $1.20 billion, a P/E ratio of 34.17 and a beta of 1.36. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.87 and a quick ratio of 1.97. AZZ has a twelve month low of $37.43 and a twelve month high of $56.05.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 8th. Investors of record on Wednesday, April 24th will be issued a $0.17 dividend. The ex-dividend date is Tuesday, April 23rd. This represents a $0.68 annualized dividend and a yield of 1.47%. AZZ’s dividend payout ratio (DPR) is presently 50.37%.

About AZZ

AZZ Inc provides galvanizing and metal coating services, welding solutions, specialty electrical equipment, and highly engineered services to the power generation, transmission, distribution, refining, and industrial markets. The company operates through two segments, Energy Segment and Metal Coatings.

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