AZZ (AZZ) Lowered to Sell at Zacks Investment Research

AZZ (NYSE:AZZ) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Thursday.

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. “

AZZ (AZZ) traded up $1.00 on Thursday, hitting $42.70. The stock had a trading volume of 210,038 shares, compared to its average volume of 138,207. The company has a market cap of $1,108.53, a P/E ratio of 21.68 and a beta of 1.32. AZZ has a 52 week low of $40.90 and a 52 week high of $61.55. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.43 and a current ratio of 2.57.

Several institutional investors and hedge funds have recently added to or reduced their stakes in AZZ. Amalgamated Bank boosted its stake in AZZ by 4.9% during the 2nd quarter. Amalgamated Bank now owns 3,595 shares of the industrial products company’s stock valued at $201,000 after purchasing an additional 167 shares during the period. M&T Bank Corp bought a new stake in AZZ during the 4th quarter valued at approximately $201,000. Stoneridge Investment Partners LLC bought a new stake in AZZ during the 3rd quarter valued at approximately $221,000. Crossmark Global Holdings Inc. bought a new stake in AZZ during the 3rd quarter valued at approximately $251,000. Finally, Piedmont Investment Advisors LLC bought a new stake in AZZ during the 2nd quarter valued at approximately $314,000. Institutional investors own 87.99% of the company’s stock.

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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.

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