AZZ (NYSE:AZZ) Price Target Raised to $85.00 at B. Riley

AZZ (NYSE:AZZ) had its target price raised by B. Riley from $67.00 to $85.00 in a report released on Tuesday morning, Benzinga reports. They currently have a buy rating on the industrial products company’s stock.

Several other research firms have also issued reports on AZZ. Noble Financial lowered AZZ from an outperform rating to a market perform rating and set a $75.00 target price for the company. in a report on Friday, March 22nd. StockNews.com lowered AZZ from a buy rating to a hold rating in a report on Friday, February 9th.

AZZ Stock Performance

Shares of AZZ opened at $83.04 on Tuesday. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.33 and a current ratio of 1.96. The stock has a 50 day moving average price of $75.03 and a two-hundred day moving average price of $61.20. The firm has a market capitalization of $2.08 billion, a P/E ratio of 29.98, a P/E/G ratio of 1.14 and a beta of 1.28. AZZ has a 52 week low of $34.59 and a 52 week high of $83.22.

AZZ (NYSE:AZZ) last issued its quarterly earnings data on Monday, April 22nd. The industrial products company reported $0.93 EPS for the quarter, topping analysts’ consensus estimates of $0.70 by $0.23. The firm had revenue of $366.50 million during the quarter, compared to analyst estimates of $351.67 million. AZZ had a return on equity of 13.15% and a net margin of 5.63%. The company’s revenue for the quarter was up 8.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.30 EPS. Equities analysts forecast that AZZ will post 4.31 earnings per share for the current fiscal year.

AZZ Announces Dividend

The firm also recently announced 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. This represents a $0.68 annualized dividend and a dividend yield of 0.82%. The ex-dividend date is Tuesday, April 16th. AZZ’s dividend payout ratio is presently 24.55%.

Hedge Funds Weigh In On AZZ

Several institutional investors have recently bought and sold shares of the company. Tectonic Advisors LLC lifted its stake in AZZ by 1.4% in the fourth quarter. Tectonic Advisors LLC now owns 15,543 shares of the industrial products company’s stock valued at $903,000 after purchasing an additional 221 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in AZZ by 2.1% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 11,079 shares of the industrial products company’s stock valued at $505,000 after purchasing an additional 231 shares during the last quarter. Financial Synergies Wealth Advisors Inc. purchased a new position in AZZ in the first quarter valued at approximately $32,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in AZZ by 8.7% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,206 shares of the industrial products company’s stock valued at $302,000 after purchasing an additional 417 shares during the last quarter. Finally, Covestor Ltd lifted its stake in 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 purchasing an additional 513 shares during the last quarter. Hedge funds and other institutional investors own 90.93% of the company’s stock.

About AZZ

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.