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

AZZ (NYSE:AZZ) had its target price lifted by B. Riley from $67.00 to $85.00 in a research report issued on Tuesday, Benzinga reports. The brokerage presently has a “buy” rating on the industrial products company’s stock. B. Riley’s target price indicates a potential upside of 4.12% from the stock’s previous close.

Several other research firms also recently weighed in on AZZ. StockNews.com downgraded AZZ from a “buy” rating to a “hold” rating in a research report on Friday, February 9th. Noble Financial lowered shares of AZZ from an “outperform” rating to a “market perform” rating and set a $75.00 price objective for the company. in a report on Friday, March 22nd.

AZZ Price Performance

Shares of NYSE AZZ traded up $5.14 during mid-day trading on Tuesday, hitting $81.64. 155,139 shares of the company’s stock traded hands, compared to its average volume of 164,665. The company has a market capitalization of $2.05 billion, a P/E ratio of 29.55, a PEG ratio of 1.14 and a beta of 1.28. AZZ has a 1 year low of $34.59 and a 1 year high of $82.41. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.96 and a quick ratio of 1.33. The company’s 50-day moving average is $74.74 and its two-hundred day moving average is $60.93.

AZZ (NYSE:AZZ) last released its quarterly earnings results on Monday, April 22nd. The industrial products company reported $0.93 earnings per share for the quarter, beating the consensus estimate of $0.70 by $0.23. The company had revenue of $366.50 million for 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%. AZZ’s quarterly revenue was up 8.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.30 EPS. On average, equities analysts anticipate that AZZ will post 4.31 EPS for the current fiscal year.

Hedge Funds Weigh In On AZZ

Several hedge funds have recently modified their holdings of AZZ. Dimensional Fund Advisors LP lifted its position in AZZ by 11.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,055,634 shares of the industrial products company’s stock worth $61,322,000 after acquiring an additional 106,091 shares during the period. Deutsche Bank AG lifted its holdings in shares of AZZ by 4,165.2% during the third quarter. Deutsche Bank AG now owns 410,142 shares of the industrial products company’s stock worth $18,694,000 after purchasing an additional 400,526 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of AZZ by 5.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 394,920 shares of the industrial products company’s stock worth $18,000,000 after purchasing an additional 18,948 shares during the period. FMR LLC boosted its position in AZZ by 4,211.2% in the third quarter. FMR LLC now owns 365,590 shares of the industrial products company’s stock valued at $16,664,000 after buying an additional 357,110 shares during the last quarter. Finally, Kennedy Capital Management LLC increased its holdings in AZZ by 37.2% in the 3rd quarter. Kennedy Capital Management LLC now owns 282,716 shares of the industrial products company’s stock worth $12,886,000 after buying an additional 76,697 shares during the period. 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 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.