AZZ Inc. (AZZ) Rating Lowered to Strong Sell at BidaskClub
AZZ Inc. (NYSE:AZZ) was downgraded by equities research analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a research note issued on Saturday.
Other equities analysts have also recently issued research reports about the company. Stifel Nicolaus cut their price objective on 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 cut AZZ from a “hold” rating to a “sell” rating in a report on Monday, July 10th. Finally, TheStreet cut AZZ from a “b” rating to a “c+” rating in a report on Friday, July 7th.
Shares of AZZ (NYSE AZZ) opened at 47.35 on Friday. The firm’s 50-day moving average is $50.70 and its 200-day moving average is $55.82. AZZ has a 1-year low of $47.10 and a 1-year high of $67.98. The stock 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 posted its earnings results on Thursday, July 6th. The industrial products company reported $0.51 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.70 by $0.19. The company had revenue of $208.60 million for the quarter, compared to analyst estimates 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 quarter in the previous year, the firm posted $0.81 earnings per share. On average, analysts predict that AZZ will post $2.62 earnings per share for the current fiscal year.
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In other AZZ news, insider Thomas E. Ferguson acquired 5,000 shares of the business’s stock in a transaction dated Tuesday, July 11th. The shares were acquired at an average price of $49.59 per share, for a total transaction of $247,950.00. Following the acquisition, the insider now directly owns 49,037 shares of the company’s stock, valued at approximately $2,431,744.83. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Paul Wesley Fehlman acquired 1,500 shares of the business’s stock in a transaction dated Tuesday, July 11th. The shares were acquired at an average price of $49.31 per share, for a total transaction of $73,965.00. Following the acquisition, the chief financial officer now directly owns 9,287 shares in the company, valued at $457,941.97. The disclosure for this purchase can be found here. Insiders own 0.01% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the stock. Capital Analysts LLC acquired a new position in AZZ during the second quarter valued at $108,000. Glen Harbor Capital Management LLC boosted its position in AZZ by 10.2% in the first quarter. Glen Harbor Capital Management LLC now owns 1,836 shares of the industrial products company’s stock valued at $109,000 after buying an additional 170 shares during the period. Ameritas Investment Partners Inc. acquired a new position in AZZ during the first quarter valued at $133,000. Quantbot Technologies LP boosted its position 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. Finally, Bank of Montreal Can boosted its position in AZZ by 6.9% in the first quarter. Bank of Montreal Can now owns 2,613 shares of the industrial products company’s stock valued at $155,000 after buying an additional 168 shares during the period. Institutional investors and hedge funds own 86.91% of the company’s stock.
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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