Zacks: AZZ Inc. (NYSE:AZZ) Receives Consensus Rating of “Hold” from Analysts
Shares of AZZ Inc. (NYSE:AZZ) have been given an average broker rating score of 3.00 (Hold) from the one brokers that cover the company, Zacks Investment Research reports. One investment analyst has rated the stock with a hold rating.
Brokers have set a twelve-month consensus price target of $56.00 for the company and are predicting that the company will post $0.56 EPS for the current quarter, according to Zacks. Zacks has also given AZZ an industry rank of 178 out of 265 based on the ratings given to its competitors.
Several research analysts have recently commented on the company. Stifel Nicolaus lowered their price target on AZZ from $58.00 to $56.00 and set a “hold” rating for the company in a research report on Friday, July 7th. TheStreet lowered AZZ from a “b” rating to a “c+” rating in a research report on Friday, July 7th. Finally, Zacks Investment Research lowered AZZ from a “hold” rating to a “sell” rating in a research report on Monday, July 10th.
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In related news, CFO Paul Wesley Fehlman acquired 1,500 shares of AZZ stock in a transaction dated Tuesday, July 11th. The shares were acquired at an average cost of $49.31 per share, for a total transaction of $73,965.00. Following the completion of the purchase, the chief financial officer now owns 9,287 shares in the company, valued at $457,941.97. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Timothy E. Pendley sold 2,500 shares of the stock in a transaction on Monday, May 1st. The shares were sold at an average price of $59.26, for a total value of $148,150.00. Following the completion of the sale, the senior vice president now owns 31,426 shares in the company, valued at $1,862,304.76. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 6,725 shares of company stock valued at $391,552. Company insiders own 0.01% of the company’s stock.
Several hedge funds have recently made changes to their positions in the stock. BlackRock Inc. boosted its stake in shares of AZZ by 138,433.7% in the first quarter. BlackRock Inc. now owns 3,100,385 shares of the industrial products company’s stock valued at $184,473,000 after buying an additional 3,098,147 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of AZZ by 4.5% in the first quarter. Vanguard Group Inc. now owns 2,286,980 shares of the industrial products company’s stock valued at $136,076,000 after buying an additional 97,870 shares during the last quarter. Neuberger Berman Group LLC boosted its stake in shares of AZZ by 30.6% in the first quarter. Neuberger Berman Group LLC now owns 1,706,121 shares of the industrial products company’s stock valued at $101,514,000 after buying an additional 399,696 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of AZZ by 2.2% in the first quarter. Dimensional Fund Advisors LP now owns 961,696 shares of the industrial products company’s stock valued at $57,219,000 after buying an additional 20,519 shares during the last quarter. Finally, Van Berkom & Associates Inc. boosted its stake in shares of AZZ by 8.0% in the first quarter. Van Berkom & Associates Inc. now owns 902,422 shares of the industrial products company’s stock valued at $53,694,000 after buying an additional 66,600 shares during the last quarter. Institutional investors and hedge funds own 86.29% of the company’s stock.
Shares of AZZ (AZZ) traded up 0.10% during midday trading on Friday, reaching $51.30. The company’s stock had a trading volume of 166,705 shares. The company has a market capitalization of $1.33 billion, a P/E ratio of 25.26 and a beta of 1.59. The stock’s 50-day moving average is $55.61 and its 200-day moving average is $58.60. AZZ has a one year low of $47.62 and a one year high of $67.98.
AZZ (NYSE:AZZ) last released its quarterly earnings results on Thursday, July 6th. The industrial products company reported $0.51 EPS for the quarter, missing the consensus estimate of $0.70 by $0.19. AZZ had a return on equity of 10.98% and a net margin of 6.44%. The firm had revenue of $208.60 million for the quarter, compared to analysts’ expectations of $225.08 million. During the same quarter in the prior year, the business earned $0.81 earnings per share. The company’s quarterly revenue was down 14.1% on a year-over-year basis. On average, equities analysts expect that AZZ will post $2.62 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 1st. Stockholders of record on Tuesday, July 18th will be given a dividend of $0.17 per share. The ex-dividend date of this dividend is Friday, July 14th. This represents a $0.68 annualized dividend and a dividend yield of 1.33%. AZZ’s dividend payout ratio is currently 33.50%.
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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