Stifel Nicolaus Reiterates “Hold” Rating for AZZ Inc (AZZ)
AZZ Inc (NYSE:AZZ)‘s stock had its “hold” rating restated by equities research analysts at Stifel Nicolaus in a note issued to investors on Thursday. They currently have a $56.00 target price on the industrial products company’s stock. Stifel Nicolaus’ price objective points to a potential upside of 17.52% from the stock’s previous close.
A number of other analysts have also weighed in on the stock. Zacks Investment Research lowered shares of AZZ from a “hold” rating to a “sell” rating in a research report on Monday, July 10th. BidaskClub lowered shares of AZZ from a “hold” rating to a “sell” rating in a research report on Friday, July 28th. Finally, TheStreet lowered shares of AZZ from a “b” rating to a “c+” rating in a research report on Friday, July 7th.
AZZ (NYSE:AZZ) traded down 1.45% on Thursday, hitting $47.65. The stock had a trading volume of 50,856 shares. The firm has a market cap of $1.24 billion, a price-to-earnings ratio of 23.46 and a beta of 1.58. AZZ has a 52-week low of $46.20 and a 52-week high of $67.70. The company’s 50 day moving average price is $49.19 and its 200 day moving average price is $54.76.
AZZ (NYSE:AZZ) last announced its earnings results on Thursday, July 6th. The industrial products company reported $0.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.70 by $0.19. The business had revenue of $208.60 million for the quarter, compared to analysts’ expectations of $225.08 million. AZZ had a net margin of 6.35% and a return on equity of 9.96%. The firm’s quarterly revenue was down 14.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.81 earnings per share. Analysts expect that AZZ will post $2.62 EPS for the current year.
In other news, CFO Paul Wesley Fehlman acquired 1,500 shares of AZZ stock in a transaction that occurred on Tuesday, July 11th. The shares were bought at an average cost of $49.31 per share, with a total value of $73,965.00. Following the transaction, the chief financial officer now directly owns 9,287 shares of the company’s stock, valued at approximately $457,941.97. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Thomas E. Ferguson acquired 5,000 shares of AZZ stock in a transaction that occurred on Tuesday, July 11th. The stock was purchased at an average cost of $49.59 per share, for a total transaction of $247,950.00. Following the completion of the transaction, the insider now directly owns 49,037 shares in the company, valued at $2,431,744.83. The disclosure for this purchase can be found here. Corporate insiders own 0.01% of the company’s stock.
Institutional investors have recently bought and sold shares of the stock. Glen Harbor Capital Management LLC raised its position in AZZ by 10.2% in the 1st quarter. Glen Harbor Capital Management LLC now owns 1,836 shares of the industrial products company’s stock worth $109,000 after purchasing an additional 170 shares during the period. Capital Analysts LLC purchased a new position in shares of AZZ during the second quarter worth approximately $108,000. Ameritas Investment Partners Inc. purchased a new position in shares of AZZ during the first quarter worth approximately $133,000. Quantbot Technologies LP increased its position in shares of AZZ by 364.0% during the first quarter. Quantbot Technologies LP now owns 2,255 shares of the industrial products company’s stock worth $134,000 after acquiring an additional 1,769 shares during the period. Finally, Bank of Montreal Can increased its position in shares of AZZ by 6.9% during the first quarter. Bank of Montreal Can now owns 2,613 shares of the industrial products company’s stock worth $155,000 after acquiring an additional 168 shares during the period. 85.81% of the stock is currently owned by institutional investors.
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.
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