AZZ (NYSE:AZZ) Downgraded by StockNews.com

AZZ (NYSE:AZZ) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Tuesday.

AZZ has been the subject of a number of other reports. B. Riley raised their price objective on shares of AZZ from $67.00 to $85.00 and gave the stock a “buy” rating in a research note on Tuesday, April 23rd. Noble Financial downgraded AZZ from an “outperform” rating to a “market perform” rating and set a $75.00 price target for the company. in a research report on Friday, March 22nd. Finally, Jefferies Financial Group assumed coverage on AZZ in a research report on Monday. They issued a “buy” rating and a $105.00 price objective on the stock. Two analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, AZZ presently has a consensus rating of “Moderate Buy” and a consensus price target of $88.33.

AZZ Trading Down 0.1 %

NYSE:AZZ opened at $84.03 on Tuesday. AZZ has a 1 year low of $34.59 and a 1 year high of $84.80. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.28 and a current ratio of 1.89. The stock has a fifty day moving average price of $76.96 and a two-hundred day moving average price of $65.51. The stock has a market capitalization of $2.50 billion, a price-to-earnings ratio of 24.50, a PEG ratio of 1.19 and a beta of 1.26.

AZZ (NYSE:AZZ) last announced its quarterly earnings results on Monday, April 22nd. The industrial products company reported $0.93 EPS for the quarter, topping the consensus estimate of $0.70 by $0.23. The business had revenue of $366.50 million for the quarter, compared to analyst estimates of $351.67 million. AZZ had a return on equity of 15.66% and a net margin of 6.61%. The company’s quarterly revenue was up 8.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.30 EPS. As a group, sell-side analysts anticipate that AZZ will post 4.83 earnings per share for the current fiscal year.

Institutional Trading of AZZ

A number of hedge funds and other institutional investors have recently made changes to their positions in AZZ. Financial Synergies Wealth Advisors Inc. bought a new position in AZZ during the first quarter valued at about $32,000. Covestor Ltd increased its holdings in shares of AZZ by 131.5% in the third quarter. Covestor Ltd now owns 903 shares of the industrial products company’s stock valued at $41,000 after buying an additional 513 shares in the last quarter. Crewe Advisors LLC purchased a new stake in AZZ in the 1st quarter worth about $77,000. Central Pacific Bank Trust Division purchased a new position in AZZ during the 1st quarter valued at about $92,000. Finally, Russell Investments Group Ltd. lifted its position in shares of AZZ by 253.0% in the first quarter. Russell Investments Group Ltd. now owns 2,026 shares of the industrial products company’s stock worth $157,000 after purchasing an additional 1,452 shares in the last quarter. Institutional investors own 90.93% of the company’s stock.

About AZZ

AZZ Inc provides hot-dip galvanizing and coil coating solutions in North America. It offers metal finishing solutions for corrosion protection, including hot-dip galvanizing, spin galvanizing, powder coating, anodizing, and plating to steel fabrication and other industries, as well as to fabricators or manufacturers that provide services to the transmission and distribution, bridge and highway, petrochemical, and general industrial markets; and original equipment manufacturers.