AZZ (NYSE:AZZ) Stock Rating Upgraded by StockNews.com

AZZ (NYSE:AZZ) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a research note issued on Thursday.

AZZ has been the topic of several other research reports. B. Riley raised their price target on shares of AZZ from $67.00 to $85.00 and gave the company a “buy” rating in a research note on Tuesday. Noble Financial lowered shares of AZZ from an “outperform” rating to a “market perform” rating and set a $75.00 price target on the stock. in a research note on Friday, March 22nd.

AZZ Stock Performance

Shares of NYSE AZZ opened at $71.45 on Thursday. The company has a quick ratio of 1.33, a current ratio of 1.89 and a debt-to-equity ratio of 1.36. The firm’s 50-day moving average price is $75.28 and its two-hundred day moving average price is $61.61. AZZ has a 52-week low of $34.59 and a 52-week high of $84.52. The stock has a market capitalization of $1.79 billion, a P/E ratio of 20.83, a P/E/G ratio of 1.22 and a beta of 1.28.

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

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Financial Synergies Wealth Advisors Inc. acquired a new position in shares of AZZ during the first quarter valued at approximately $32,000. Covestor Ltd increased its stake in shares of AZZ by 131.5% during the third quarter. Covestor Ltd now owns 903 shares of the industrial products company’s stock valued at $41,000 after acquiring an additional 513 shares during the period. Hennion & Walsh Asset Management Inc. acquired a new position in shares of AZZ during the first quarter valued at approximately $215,000. Claro Advisors LLC acquired a new position in shares of AZZ during the first quarter valued at approximately $237,000. Finally, Strs Ohio acquired a new position in shares of AZZ during the fourth quarter valued at approximately $197,000. Institutional investors and hedge funds own 90.93% of the company’s stock.

AZZ Company Profile

AZZ Inc provides hot-dip galvanizing and coil coating solutions in the United States, Canada, Brazil, China, the Netherlands, Poland, Singapore, and India. The company operates through AZZ Metal Coatings and AZZ Precoat Metals segments. The AZZ Metal Coatings segment offers metal finishing solutions for corrosion protection, including hot-dip galvanizing, spin galvanizing, powder coating, anodizing, and plating to steel fabrication and other industries.