AZZ (AZZ) Lifted to “Hold” at Zacks Investment Research
AZZ (NYSE:AZZ) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Tuesday.
According to Zacks, “AZZ Inc. is a global provider of metal coating services, welding solutions, specialty electrical equipment and highly engineered services to the markets of power generation, transmission, distribution and industrial in protecting metal and electrical systems used to build and enhance the world’s infrastructure. AZZ Metal Coatings is a leading provider of metal finishing solutions for corrosion protection, including hot dip galvanizing to the North American steel fabrication industry. AZZ Energy is dedicated to delivering safe and reliable transmission of power from generation sources to end customers, and automated weld overlay solutions for corrosion and erosion mitigation to critical infrastructure in the energy markets worldwide. “
Several other equities research analysts have also weighed in on AZZ. BidaskClub lowered shares of AZZ from a “sell” rating to a “strong sell” rating in a report on Saturday, August 19th. Stifel Nicolaus reiterated a “hold” rating and issued a $56.00 target price on shares of AZZ in a report on Thursday, September 7th.
AZZ (NYSE:AZZ) last announced its quarterly earnings data on Tuesday, October 3rd. The industrial products company reported $0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.09). AZZ had a net margin of 6.27% and a return on equity of 9.65%. The business had revenue of $190.40 million during the quarter, compared to the consensus estimate of $193.70 million. During the same period in the previous year, the business posted $0.55 earnings per share. AZZ’s revenue was down 2.4% compared to the same quarter last year. analysts forecast that AZZ will post 1.99 EPS for the current year.
Large investors have recently modified their holdings of the stock. Capital Analysts LLC acquired a new stake in AZZ in the 2nd quarter valued at $108,000. Pinebridge Investments L.P. increased its stake in AZZ by 1.3% in the 2nd quarter. Pinebridge Investments L.P. now owns 3,431 shares of the industrial products company’s stock valued at $191,000 after buying an additional 45 shares during the last quarter. Amalgamated Bank increased its stake in AZZ by 4.9% in the 2nd quarter. Amalgamated Bank now owns 3,595 shares of the industrial products company’s stock valued at $201,000 after buying an additional 167 shares during the last quarter. Stoneridge Investment Partners LLC acquired a new stake in AZZ in the 3rd quarter valued at $221,000. Finally, M&T Bank Corp acquired a new stake in AZZ in the 2nd quarter valued at $238,000. Institutional investors and hedge funds own 87.86% of the company’s stock.
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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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