AZZ Inc. (NYSE:AZZ) Receives $155.25 Average PT from Brokerages

Shares of AZZ Inc. (NYSE:AZZ) have been given an average recommendation of “Moderate Buy” by the six research firms that are currently covering the stock, Marketbeat reports. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $155.25.

AZZ has been the topic of a number of research reports. Wells Fargo & Company boosted their target price on shares of AZZ from $138.00 to $144.00 and gave the stock an “equal weight” rating in a report on Friday, July 10th. B. Riley Financial raised their target price on shares of AZZ from $169.00 to $170.00 and gave the stock a “buy” rating in a report on Monday, July 13th. Wall Street Zen lowered shares of AZZ from a “buy” rating to a “hold” rating in a research report on Sunday, July 12th. Finally, Weiss Ratings cut AZZ from a “buy (b+)” rating to a “buy (b)” rating in a report on Thursday, July 9th.

Insiders Place Their Bets

In related news, COO Bryan Lee Stovall sold 2,677 shares of the stock in a transaction on Friday, August 14th. The stock was sold at an average price of $150.07, for a total value of $401,737.39. Following the completion of the transaction, the chief operating officer owned 35,000 shares in the company, valued at $5,252,450. This trade represents a 7.11% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Jeffrey Vellines sold 4,220 shares of AZZ stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $153.55, for a total value of $647,981.00. Following the completion of the transaction, the chief operating officer directly owned 1,834 shares in the company, valued at $281,610.70. This represents a 69.71% decrease in their position. The SEC filing for this sale provides additional information. 1.70% of the stock is owned by insiders.

Institutional Trading of AZZ

A number of hedge funds have recently bought and sold shares of AZZ. Tidal Investments LLC lifted its position in shares of AZZ by 0.7% in the 2nd quarter. Tidal Investments LLC now owns 21,919 shares of the industrial products company’s stock valued at $3,399,000 after acquiring an additional 161 shares in the last quarter. Integrated Wealth Concepts LLC purchased a new position in AZZ during the 2nd quarter worth approximately $66,000. IFP Advisors Inc raised its stake in AZZ by 20.0% during the 2nd quarter. IFP Advisors Inc now owns 1,009 shares of the industrial products company’s stock valued at $156,000 after purchasing an additional 168 shares during the period. Allworth Financial LP lifted its holdings in shares of AZZ by 524.2% in the second quarter. Allworth Financial LP now owns 387 shares of the industrial products company’s stock valued at $60,000 after purchasing an additional 325 shares in the last quarter. Finally, Nykredit A S purchased a new stake in shares of AZZ in the second quarter valued at $197,000. 90.93% of the stock is owned by hedge funds and other institutional investors.

AZZ Trading Down 0.7%

Shares of AZZ stock opened at $132.67 on Thursday. The stock has a 50-day simple moving average of $144.05 and a 200 day simple moving average of $140.49. The stock has a market capitalization of $3.99 billion, a P/E ratio of 20.22 and a beta of 1.11. AZZ has a fifty-two week low of $92.98 and a fifty-two week high of $162.20. The company has a quick ratio of 1.39, a current ratio of 1.92 and a debt-to-equity ratio of 0.35.

AZZ (NYSE:AZZ) last issued its quarterly earnings results on Wednesday, July 8th. The industrial products company reported $1.85 earnings per share for the quarter, beating analysts’ consensus estimates of $1.80 by $0.05. AZZ had a net margin of 11.83% and a return on equity of 14.18%. The company had revenue of $448.53 million during the quarter, compared to the consensus estimate of $434.58 million. During the same period in the prior year, the company earned $1.78 EPS. AZZ’s revenue was up 6.3% on a year-over-year basis. AZZ has set its FY 2027 guidance at 6.750-7.150 EPS. On average, sell-side analysts expect that AZZ will post 7.06 earnings per share for the current fiscal year.

AZZ Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, July 30th. Investors of record on Thursday, July 9th were issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date was Thursday, July 9th. This is a positive change from AZZ’s previous quarterly dividend of $0.20. AZZ’s payout ratio is presently 14.63%.

About AZZ

AZZ Inc (NYSE: AZZ) is a provider of metal coating and coil coating solutions serving industrial and infrastructure markets. The company’s Metal Coatings segment offers hot-dip galvanizing, powder coating, anodizing and related finishing services designed to protect steel and other metal products from corrosion and extend their service life.

Through its Precoat Metals business, AZZ provides continuous coil coating services for flat-rolled steel and aluminum. Its coatings are used in products and applications including building materials, transportation equipment, appliances, consumer goods, packaging and other manufactured components.