AZZ Inc. (NYSE:AZZ) was downgraded by analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a research note issued on Saturday.

A number of other research analysts have also recently commented on AZZ. Zacks Investment Research cut AZZ from a “buy” rating to a “strong sell” rating in a research note on Wednesday, April 26th. Stifel Nicolaus reduced their price objective on AZZ from $58.00 to $56.00 and set a “hold” rating on the stock in a research note on Friday, July 7th. Finally, TheStreet cut AZZ from a “b” rating to a “c+” rating in a research note on Friday, July 7th.

AZZ (AZZ) traded down 0.42% on Friday, reaching $47.35. The company’s stock had a trading volume of 76,299 shares. AZZ has a 52 week low of $47.10 and a 52 week high of $67.70. The company has a 50 day moving average of $50.70 and a 200 day moving average of $55.82. The firm has a market capitalization of $1.23 billion, a price-to-earnings ratio of 23.31 and a beta of 1.57.

AZZ (NYSE:AZZ) last released its quarterly earnings results on Thursday, July 6th. The industrial products company reported $0.51 EPS for the quarter, missing analysts’ consensus estimates of $0.70 by $0.19. AZZ had a return on equity of 10.98% and a net margin of 6.44%. The firm had revenue of $208.60 million for the quarter, compared to analyst estimates of $225.08 million. During the same quarter last year, the company earned $0.81 earnings per share. The firm’s revenue for the quarter was down 14.1% on a year-over-year basis. On average, analysts forecast that AZZ will post $2.62 earnings per share for the current year.

TRADEMARK VIOLATION NOTICE: “BidaskClub Downgrades AZZ Inc. (AZZ) to Strong Sell” was originally published by American Banking News and is owned by of American Banking News. If you are accessing this story on another website, it was illegally copied and republished in violation of United States and international copyright laws. The correct version of this story can be viewed at https://www.americanbankingnews.com/2017/08/19/bidaskclub-downgrades-azz-inc-azz-to-strong-sell.html.

In related news, insider Thomas E. Ferguson acquired 5,000 shares of AZZ stock in a transaction dated Tuesday, July 11th. The shares were acquired at an average cost of $49.59 per share, for a total transaction of $247,950.00. Following the completion of the purchase, the insider now owns 49,037 shares in the company, valued at $2,431,744.83. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Paul Wesley Fehlman acquired 1,500 shares of AZZ stock in a transaction dated Tuesday, July 11th. The stock was bought at an average price of $49.31 per share, for a total transaction of $73,965.00. Following the completion of the purchase, the chief financial officer now owns 9,287 shares of the company’s stock, valued at approximately $457,941.97. The disclosure for this purchase can be found here. 0.01% of the stock is currently owned by company insiders.

Hedge funds have recently made changes to their positions in the stock. Van Berkom & Associates Inc. boosted its stake in shares of AZZ by 8.0% in the first quarter. Van Berkom & Associates Inc. now owns 902,422 shares of the industrial products company’s stock valued at $53,694,000 after buying an additional 66,600 shares during the last quarter. Comerica Bank boosted its stake in shares of AZZ by 4.1% in the first quarter. Comerica Bank now owns 28,763 shares of the industrial products company’s stock valued at $1,732,000 after buying an additional 1,133 shares during the last quarter. BNP Paribas Arbitrage SA boosted its stake in shares of AZZ by 10.0% in the first quarter. BNP Paribas Arbitrage SA now owns 5,744 shares of the industrial products company’s stock valued at $342,000 after buying an additional 520 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of AZZ by 1.4% in the first quarter. Bank of New York Mellon Corp now owns 382,285 shares of the industrial products company’s stock valued at $22,746,000 after buying an additional 5,096 shares during the last quarter. Finally, Bbva Compass Bancshares Inc. boosted its stake in shares of AZZ by 1.7% in the first quarter. Bbva Compass Bancshares Inc. now owns 4,845 shares of the industrial products company’s stock valued at $288,000 after buying an additional 80 shares during the last quarter. Institutional investors and hedge funds own 86.91% of the company’s stock.

AZZ Company Profile

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.

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.