Zacks: AZZ Inc (NYSE:AZZ) Given Average Rating of “Buy” by Brokerages

AZZ Inc (NYSE:AZZ) has earned a consensus broker rating score of 2.00 (Buy) from the two analysts that provide coverage for the stock, Zacks Investment Research reports. One analyst has rated the stock with a hold rating and one has given a strong buy rating to the company.

Brokers have set a one year consensus price target of $48.00 for the company and are predicting that the company will post $0.71 earnings per share for the current quarter, according to Zacks. Zacks has also given AZZ an industry rank of 186 out of 256 based on the ratings given to its competitors.

Separately, Zacks Investment Research raised AZZ from a “hold” rating to a “buy” rating and set a $47.00 target price on the stock in a research note on Monday, June 3rd.

AZZ traded down $0.41 during mid-day trading on Friday, hitting $43.57. 63,639 shares of the stock were exchanged, compared to its average volume of 135,345. AZZ has a 1-year low of $37.43 and a 1-year high of $56.05. The company has a current ratio of 2.30, a quick ratio of 1.54 and a debt-to-equity ratio of 0.07. The firm has a market cap of $1.14 billion, a price-to-earnings ratio of 22.23 and a beta of 1.44.

AZZ (NYSE:AZZ) last posted its earnings results on Monday, May 20th. The industrial products company reported $0.34 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.46 by ($0.12). AZZ had a return on equity of 8.67% and a net margin of 5.52%. The firm had revenue of $202.50 million for the quarter, compared to analyst estimates of $223.29 million. AZZ’s revenue for the quarter was up .9% on a year-over-year basis. On average, research analysts forecast that AZZ will post 2.59 earnings per share for the current year.

A number of hedge funds have recently bought and sold shares of the business. BlackRock Inc. raised its position in AZZ by 0.6% in the 1st quarter. BlackRock Inc. now owns 3,788,765 shares of the industrial products company’s stock valued at $155,072,000 after purchasing an additional 23,037 shares in the last quarter. Dimensional Fund Advisors LP raised its position in AZZ by 0.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,183,068 shares of the industrial products company’s stock valued at $48,423,000 after purchasing an additional 7,353 shares in the last quarter. FMR LLC raised its position in AZZ by 6.2% in the 1st quarter. FMR LLC now owns 716,433 shares of the industrial products company’s stock valued at $29,324,000 after purchasing an additional 41,567 shares in the last quarter. Wellington Management Group LLP raised its position in AZZ by 0.3% in the 1st quarter. Wellington Management Group LLP now owns 527,765 shares of the industrial products company’s stock valued at $21,601,000 after purchasing an additional 1,702 shares in the last quarter. Finally, Norges Bank acquired a new stake in AZZ in the 4th quarter valued at about $15,018,000. 86.65% of the stock is currently owned by institutional investors.

AZZ Company Profile

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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