Zacks: Analysts Set $56.00 Price Target for AZZ Inc. (NYSE:AZZ)
AZZ Inc. (NYSE:AZZ) has earned an average broker rating score of 3.00 (Hold) from the one brokers that provide coverage for the stock, Zacks Investment Research reports. One analyst has rated the stock with a hold rating.
Analysts have set a 12 month consensus price target of $56.00 for the company and are anticipating that the company will post $0.56 earnings per share for the current quarter, according to Zacks. Zacks has also given AZZ an industry rank of 96 out of 265 based on the ratings given to related companies.
A number of equities analysts recently weighed in on AZZ shares. Stifel Nicolaus cut their price target on shares of AZZ from $58.00 to $56.00 and set a “hold” rating on the stock in a report on Friday, July 7th. Zacks Investment Research downgraded shares of AZZ from a “hold” rating to a “sell” rating in a report on Monday, July 10th. BidaskClub downgraded shares of AZZ from a “hold” rating to a “sell” rating in a report on Friday, July 28th. Finally, TheStreet downgraded shares of AZZ from a “b” rating to a “c+” rating in a report on Friday, July 7th.
TRADEMARK VIOLATION NOTICE: This report was reported by American Banking News and is owned by of American Banking News. If you are viewing this report on another site, it was copied illegally and republished in violation of United States and international copyright legislation. The legal version of this report can be viewed at https://www.americanbankingnews.com/2017/08/06/zacks-analysts-set-56-00-price-target-for-azz-inc-nyseazz.html.
Shares of AZZ (NYSE:AZZ) traded up 1.50% during trading on Friday, hitting $50.75. 63,602 shares of the stock traded hands. The stock has a market cap of $1.32 billion, a price-to-earnings ratio of 24.99 and a beta of 1.57. AZZ has a 1-year low of $47.62 and a 1-year high of $67.98. The stock has a 50 day moving average price of $53.07 and a 200-day moving average price of $56.66.
AZZ (NYSE:AZZ) last issued its quarterly earnings results on Thursday, July 6th. The industrial products company reported $0.51 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.70 by $0.19. The company had revenue of $208.60 million during the quarter, compared to analysts’ expectations of $225.08 million. AZZ had a return on equity of 10.98% and a net margin of 6.44%. AZZ’s quarterly revenue was down 14.1% compared to the same quarter last year. During the same period last year, the firm posted $0.81 earnings per share. Equities analysts forecast that AZZ will post $2.62 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, August 1st. Investors of record on Tuesday, July 18th were issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.34%. The ex-dividend date was Friday, July 14th. AZZ’s dividend payout ratio (DPR) is currently 33.50%.
In other AZZ news, insider Thomas E. Ferguson acquired 5,000 shares of the company’s stock in a transaction on Tuesday, July 11th. The shares were acquired at an average cost of $49.59 per share, with a total value of $247,950.00. Following the completion of the acquisition, the insider now directly owns 49,037 shares in the company, valued at $2,431,744.83. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Paul Wesley Fehlman acquired 1,500 shares of the company’s stock in a transaction on Tuesday, July 11th. The shares were acquired at an average cost of $49.31 per share, for a total transaction of $73,965.00. Following the completion of the acquisition, the chief financial officer now owns 9,287 shares of the company’s stock, valued at $457,941.97. The disclosure for this purchase can be found here. 0.01% of the stock is owned by corporate insiders.
Large investors have recently added to or reduced their stakes in the stock. First Trust Advisors LP increased its stake in AZZ by 33.4% in the first quarter. First Trust Advisors LP now owns 115,195 shares of the industrial products company’s stock valued at $6,854,000 after buying an additional 28,823 shares during the period. Mason Street Advisors LLC increased its stake in AZZ by 6.8% in the first quarter. Mason Street Advisors LLC now owns 6,069 shares of the industrial products company’s stock valued at $361,000 after buying an additional 385 shares during the period. TD Asset Management Inc. increased its stake in AZZ by 2.1% in the first quarter. TD Asset Management Inc. now owns 24,600 shares of the industrial products company’s stock valued at $1,464,000 after buying an additional 500 shares during the period. Chatham Capital Group Inc. acquired a new stake in AZZ during the first quarter valued at approximately $970,000. Finally, Quantbot Technologies LP increased its stake in AZZ by 364.0% in the first quarter. Quantbot Technologies LP now owns 2,255 shares of the industrial products company’s stock valued at $134,000 after buying an additional 1,769 shares during the period. 86.70% of the stock is currently owned by institutional investors and hedge funds.
AZZ Inc is a provider of galvanizing services, welding solutions, specialty electrical equipment and engineered services to the power generation, transmission, distribution, refining and industrial markets. The Company operates through two segments: Energy segment and Galvanizing segment. Its Energy segment provides products and services designed to support industrial, nuclear and electrical applications.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for AZZ Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AZZ Inc. and related companies with MarketBeat.com's FREE daily email newsletter.