Roth Mkm Initiates Coverage on AZZ (NYSE:AZZ)

Analysts at Roth Mkm started coverage on shares of AZZ (NYSE:AZZ) in a research note issued to investors on Tuesday, MarketBeat.com reports. The firm set a “buy” rating and a $108.00 price target on the industrial products company’s stock. Roth Mkm’s target price would suggest a potential upside of 11.40% from the company’s previous close.

Separately, Jefferies Financial Group lifted their target price on AZZ from $105.00 to $110.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Four research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $100.67.

AZZ Price Performance

Shares of AZZ stock opened at $96.95 on Tuesday. The stock has a market cap of $2.90 billion, a price-to-earnings ratio of 65.51, a price-to-earnings-growth ratio of 1.33 and a beta of 1.30. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.26 and a current ratio of 1.77. The stock has a 50 day moving average price of $87.78 and a 200-day moving average price of $83.39. AZZ has a one year low of $67.32 and a one year high of $98.67.

AZZ (NYSE:AZZ) last announced its earnings results on Tuesday, January 7th. The industrial products company reported $1.39 EPS for the quarter, topping analysts’ consensus estimates of $1.29 by $0.10. The firm had revenue of $403.65 million during the quarter, compared to analysts’ expectations of $394.30 million. AZZ had a return on equity of 16.99% and a net margin of 7.94%. The company’s quarterly revenue was up 5.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.19 EPS. Equities analysts expect that AZZ will post 5.13 EPS for the current year.

Hedge Funds Weigh In On AZZ

A number of large investors have recently bought and sold shares of the business. FMR LLC boosted its holdings in AZZ by 13.6% during the 3rd quarter. FMR LLC now owns 3,223,391 shares of the industrial products company’s stock valued at $266,284,000 after acquiring an additional 385,240 shares during the period. State Street Corp lifted its holdings in shares of AZZ by 2.6% in the 3rd quarter. State Street Corp now owns 1,100,189 shares of the industrial products company’s stock worth $90,887,000 after buying an additional 27,710 shares during the period. Wellington Management Group LLP lifted its holdings in shares of AZZ by 19.2% in the 4th quarter. Wellington Management Group LLP now owns 882,308 shares of the industrial products company’s stock worth $72,279,000 after buying an additional 142,215 shares during the period. Geode Capital Management LLC lifted its holdings in shares of AZZ by 1.5% in the 3rd quarter. Geode Capital Management LLC now owns 675,603 shares of the industrial products company’s stock worth $55,823,000 after buying an additional 10,072 shares during the period. Finally, Harvey Partners LLC lifted its holdings in shares of AZZ by 1.8% in the 3rd quarter. Harvey Partners LLC now owns 666,000 shares of the industrial products company’s stock worth $55,018,000 after buying an additional 12,000 shares during the period. 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 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.