Roth Mkm Begins Coverage on AZZ (NYSE:AZZ)

Analysts at Roth Mkm assumed coverage on shares of AZZ (NYSE:AZZ) in a research note issued on Tuesday, Marketbeat.com reports. The firm set a “buy” rating and a $108.00 price target on the industrial products company’s stock. Roth Mkm’s target price suggests a potential upside of 11.40% from the stock’s previous close.

Separately, Jefferies Financial Group boosted their price target on AZZ from $105.00 to $110.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Four equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $100.67.

AZZ Trading Down 0.6 %

AZZ opened at $96.95 on Tuesday. The firm has a market cap of $2.90 billion, a price-to-earnings ratio of 65.51, a PEG ratio of 1.33 and a beta of 1.30. The company has a current ratio of 1.77, a quick ratio of 1.26 and a debt-to-equity ratio of 0.85. AZZ has a 12 month low of $67.32 and a 12 month high of $98.67. The stock has a fifty day moving average price of $87.78 and a 200-day moving average price of $83.39.

AZZ (NYSE:AZZ) last released its quarterly earnings results on Tuesday, January 7th. The industrial products company reported $1.39 EPS for the quarter, topping the consensus estimate of $1.29 by $0.10. The firm had revenue of $403.65 million during the quarter, compared to analyst estimates of $394.30 million. AZZ had a return on equity of 16.99% and a net margin of 7.94%. The business’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same period in the previous year, the company posted $1.19 EPS. As a group, equities research analysts anticipate that AZZ will post 5.13 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Franklin Resources Inc. increased its position in AZZ by 86.2% during the 4th quarter. Franklin Resources Inc. now owns 55,541 shares of the industrial products company’s stock valued at $4,550,000 after buying an additional 25,706 shares in the last quarter. Alliancebernstein L.P. grew its stake in AZZ by 5.6% during the 4th quarter. Alliancebernstein L.P. now owns 33,847 shares of the industrial products company’s stock valued at $2,773,000 after purchasing an additional 1,800 shares during the last quarter. Meeder Asset Management Inc. purchased a new stake in AZZ during the 4th quarter valued at about $214,000. Wellington Management Group LLP grew its stake in AZZ by 19.2% during the 4th quarter. Wellington Management Group LLP now owns 882,308 shares of the industrial products company’s stock valued at $72,279,000 after purchasing an additional 142,215 shares during the last quarter. Finally, Norges Bank purchased a new stake in AZZ during the 4th quarter valued at about $7,002,000. 90.93% of the stock is owned by institutional investors and hedge funds.

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.