Brokerages Set AZZ Inc. (NYSE:AZZ) Target Price at $96.80

Shares of AZZ Inc. (NYSE:AZZ) have been assigned a consensus recommendation of “Moderate Buy” from the seven research firms that are covering the stock, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1 year target price among brokers that have covered the stock in the last year is $96.80.

Separately, Jefferies Financial Group increased their target price on AZZ from $105.00 to $110.00 and gave the stock a “buy” rating in a research report on Friday, December 6th.

Hedge Funds Weigh In On AZZ

A number of institutional investors have recently added to or reduced their stakes in the business. Farther Finance Advisors LLC grew its holdings in shares of AZZ by 3,790.0% during the third quarter. Farther Finance Advisors LLC now owns 389 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 379 shares in the last quarter. CWM LLC increased its holdings in shares of AZZ by 69.4% in the 2nd quarter. CWM LLC now owns 459 shares of the industrial products company’s stock worth $35,000 after buying an additional 188 shares during the last quarter. Point72 DIFC Ltd purchased a new stake in shares of AZZ during the 2nd quarter valued at $52,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in AZZ in the second quarter worth $67,000. Finally, 1620 Investment Advisors Inc. bought a new position in AZZ in the second quarter valued at $72,000. 90.93% of the stock is currently owned by institutional investors.

AZZ Stock Performance

NYSE:AZZ opened at $94.53 on Friday. AZZ has a 1 year low of $50.27 and a 1 year high of $97.98. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.85 and a quick ratio of 1.32. The business has a fifty day simple moving average of $84.99 and a two-hundred day simple moving average of $81.25. The company has a market capitalization of $2.82 billion, a P/E ratio of 73.85, a P/E/G ratio of 1.33 and a beta of 1.30.

AZZ (NYSE:AZZ) last released its quarterly earnings data on Wednesday, October 9th. The industrial products company reported $1.37 EPS for the quarter, beating the consensus estimate of $1.32 by $0.05. AZZ had a net margin of 7.63% and a return on equity of 16.88%. The business had revenue of $409.01 million for the quarter, compared to the consensus estimate of $409.50 million. During the same period in the prior year, the firm earned $1.27 earnings per share. The company’s revenue was up 2.6% compared to the same quarter last year. On average, analysts expect that AZZ will post 5.12 earnings per share for the current year.

AZZ Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Friday, October 18th were given a $0.17 dividend. The ex-dividend date was Friday, October 18th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.72%. AZZ’s dividend payout ratio (DPR) is presently 53.13%.

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.