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

AZZ (NYSE:AZZ) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Friday.

AZZ has been the topic of several other research reports. 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 report on Friday, March 22nd. B. Riley increased their price target on shares of AZZ from $67.00 to $85.00 and gave the stock a “buy” rating in a research report on Tuesday, April 23rd.

AZZ Stock Up 1.1 %

NYSE AZZ opened at $75.02 on Friday. AZZ has a twelve month low of $34.59 and a twelve month high of $84.52. The stock has a market cap of $2.23 billion, a PE ratio of 21.87, a PEG ratio of 1.10 and a beta of 1.26. The firm has a 50-day simple moving average of $75.39 and a 200 day simple moving average of $62.50. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.28 and a current ratio of 1.89.

AZZ (NYSE:AZZ) last announced 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 company had revenue of $366.50 million during 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% on a year-over-year basis. During the same quarter last year, the company earned $0.30 EPS. On average, research analysts forecast that AZZ will post 4.83 EPS for the current year.

Institutional Trading of AZZ

Hedge funds have recently modified their holdings of the company. Financial Synergies Wealth Advisors Inc. acquired a new stake in shares of AZZ in the first quarter valued at $32,000. Covestor Ltd grew its holdings in AZZ by 131.5% during the 3rd quarter. Covestor Ltd now owns 903 shares of the industrial products company’s stock worth $41,000 after acquiring an additional 513 shares during the last quarter. Central Pacific Bank Trust Division acquired a new stake in AZZ in the 1st quarter valued at about $92,000. Strs Ohio bought a new position in shares of AZZ in the fourth quarter worth about $197,000. Finally, Victory Capital Management Inc. acquired a new position in shares of AZZ during the third quarter worth approximately $203,000. Institutional investors and hedge funds own 90.93% of the company’s stock.

About AZZ

AZZ Inc provides hot-dip galvanizing and coil coating solutions in North America. It offers metal finishing solutions for corrosion protection, including hot-dip galvanizing, spin galvanizing, powder coating, anodizing, and plating to steel fabrication and other industries, as well as to fabricators or manufacturers that provide services to the transmission and distribution, bridge and highway, petrochemical, and general industrial markets; and original equipment manufacturers.