AZZ (NYSE:AZZ) Stock Price Expected to Rise, B. Riley Analyst Says

AZZ (NYSE:AZZ) had its price objective increased by equities researchers at B. Riley from $99.00 to $111.00 in a research note issued on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the industrial products company’s stock. B. Riley’s target price indicates a potential upside of 14.19% from the company’s current price.

Other equities research analysts have also issued research reports about the company. Roth Mkm assumed coverage on AZZ in a research report on Tuesday. They issued a “buy” rating and a $108.00 price target on the stock. Jefferies Financial Group upped their target price on AZZ from $105.00 to $110.00 and gave the company a “buy” rating in a report on Friday, December 6th. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $100.67.

AZZ Price Performance

Shares of NYSE:AZZ opened at $97.21 on Tuesday. The firm has a 50 day simple moving average of $87.62 and a 200 day simple moving average of $83.19. The company has a market cap of $2.90 billion, a price-to-earnings ratio of 66.00, a PEG ratio of 1.33 and a beta of 1.30. AZZ has a one year low of $67.32 and a one year high of $98.90. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.77 and a quick ratio of 1.26.

AZZ (NYSE:AZZ) last released its quarterly earnings data on Tuesday, January 7th. The industrial products company reported $1.39 earnings per share for the quarter, beating the consensus estimate of $1.29 by $0.10. AZZ had a return on equity of 16.99% and a net margin of 7.94%. The company had revenue of $403.65 million for the quarter, compared to the consensus estimate of $394.30 million. During the same quarter last year, the business posted $1.19 EPS. AZZ’s revenue for the quarter was up 5.8% on a year-over-year basis. Research analysts predict that AZZ will post 5.13 earnings per share for the current fiscal year.

Hedge Funds Weigh In On AZZ

A number of institutional investors have recently modified their holdings of the company. Farther Finance Advisors LLC lifted its stake in AZZ by 3,790.0% during the 3rd quarter. Farther Finance Advisors LLC now owns 389 shares of the industrial products company’s stock valued at $32,000 after acquiring an additional 379 shares in the last quarter. US Bancorp DE lifted its position in shares of AZZ by 39.0% during the fourth quarter. US Bancorp DE now owns 463 shares of the industrial products company’s stock valued at $38,000 after purchasing an additional 130 shares in the last quarter. Smartleaf Asset Management LLC boosted its holdings in AZZ by 202.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 475 shares of the industrial products company’s stock worth $39,000 after purchasing an additional 318 shares during the last quarter. CWM LLC grew its position in AZZ by 51.2% in the 3rd quarter. CWM LLC now owns 694 shares of the industrial products company’s stock worth $57,000 after purchasing an additional 235 shares in the last quarter. Finally, KBC Group NV increased its stake in AZZ by 50.8% in the 4th quarter. KBC Group NV now owns 1,244 shares of the industrial products company’s stock valued at $102,000 after buying an additional 419 shares during the last quarter. 90.93% of the stock is owned by institutional investors and hedge funds.

About AZZ

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.