AZZ Lowered to “Underperform” at Zacks (AZZ)
AZZ (NYSE:AZZ) was downgraded by Zacks from a “neutral” rating to an “underperform” rating in a note issued to investors on Monday, Analyst RN reports. They currently have a $38.30 price target on the stock. Zacks‘ target price indicates a potential downside of 5.06% from the stock’s previous close.
Shares of AZZ (NYSE:AZZ) traded down 0.22% during mid-day trading on Monday, hitting $40.25. 252,604 shares of the company’s stock traded hands. AZZ has a 1-year low of $34.61 and a 1-year high of $49.64. The stock’s 50-day moving average is $47.02 and its 200-day moving average is $42.0. The company has a market cap of $1.028 billion and a P/E ratio of 16.53.
AZZ (NYSE:AZZ) last posted its quarterly earnings results on Wednesday, January 8th. The company reported $0.59 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.74 by $0.15. The company had revenue of $197.80 million for the quarter, compared to the consensus estimate of $218.63 million. During the same quarter in the prior year, the company posted $0.60 earnings per share. The company’s quarterly revenue was up 32.1% on a year-over-year basis. Analysts expect that AZZ will post $2.23 EPS for the current fiscal year.
AZZ incorporated is an electrical equipment and components manufacturer, serving the global markets of power generation, transmission and distribution, and the general industrial markets, and a provider of hot dip galvanizing services to the North American steel fabrication market.
To view Zacks’ full report, visit www.zacks.com
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.