AZZ (NYSE:AZZ) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of AZZ (NYSE:AZZ) from a hold rating to a buy rating in a report published on Thursday morning.

Other analysts also recently issued research reports about the company. Noble Financial downgraded 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. B. Riley boosted their price objective on AZZ from $67.00 to $85.00 and gave the company a buy rating in a report on Tuesday.

AZZ Stock Down 2.8 %

AZZ stock opened at $71.20 on Thursday. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.33 and a current ratio of 1.89. The business’s 50-day simple moving average is $75.30 and its two-hundred day simple moving average is $61.43. The company has a market cap of $1.79 billion, a PE ratio of 21.36, a PEG ratio of 1.22 and a beta of 1.28. AZZ has a fifty-two week low of $34.59 and a fifty-two week high of $84.52.

AZZ (NYSE:AZZ) last posted its quarterly earnings results on Monday, April 22nd. The industrial products company reported $0.93 earnings per share for the quarter, beating the consensus estimate of $0.70 by $0.23. The business had revenue of $366.50 million for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.30 EPS. Equities analysts anticipate that AZZ will post 4.83 EPS for the current year.

AZZ Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 2nd. Stockholders of record on Wednesday, April 17th will be issued a $0.17 dividend. The ex-dividend date of this dividend is Tuesday, April 16th. This represents a $0.68 annualized dividend and a dividend yield of 0.96%. AZZ’s dividend payout ratio (DPR) is presently 19.83%.

Hedge Funds Weigh In On AZZ

Several institutional investors and hedge funds have recently modified their holdings of the stock. Financial Synergies Wealth Advisors Inc. acquired a new position in AZZ in the 1st quarter worth about $32,000. Covestor Ltd raised its holdings in AZZ by 131.5% in the 3rd quarter. Covestor Ltd now owns 903 shares of the industrial products company’s stock worth $41,000 after purchasing an additional 513 shares during the period. Strs Ohio acquired a new position in AZZ in the 4th quarter worth about $197,000. Victory Capital Management Inc. acquired a new position in AZZ in the 3rd quarter worth about $203,000. Finally, Hennion & Walsh Asset Management Inc. acquired a new position in AZZ in the 1st quarter worth about $215,000. 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.