AZZ (NYSE:AZZ) Price Target Raised to $110.00 at Jefferies Financial Group

AZZ (NYSE:AZZ) had its price target hoisted by equities researchers at Jefferies Financial Group from $105.00 to $110.00 in a report issued on Friday,Benzinga reports. The firm presently has a “buy” rating on the industrial products company’s stock. Jefferies Financial Group’s price objective points to a potential upside of 17.10% from the company’s previous close.

AZZ Price Performance

Shares of AZZ stock opened at $93.94 on Friday. The stock’s fifty day moving average is $83.63 and its 200 day moving average is $80.85. AZZ has a one year low of $50.27 and a one year high of $97.98. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.32 and a current ratio of 1.85. The stock has a market cap of $2.81 billion, a P/E ratio of 73.39, a P/E/G ratio of 1.31 and a beta of 1.30.

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

Institutional Investors Weigh In On AZZ

A number of institutional investors have recently bought and sold shares of the business. CWM LLC boosted its stake in shares of AZZ by 69.4% in the second quarter. CWM LLC now owns 459 shares of the industrial products company’s stock worth $35,000 after acquiring an additional 188 shares during the period. Welch Group LLC bought a new position in AZZ in the 2nd quarter worth approximately $270,000. FSC Wealth Advisors LLC grew its holdings in AZZ by 38.6% during the 2nd quarter. FSC Wealth Advisors LLC now owns 951 shares of the industrial products company’s stock valued at $73,000 after buying an additional 265 shares in the last quarter. Assenagon Asset Management S.A. raised its position in shares of AZZ by 325.3% during the second quarter. Assenagon Asset Management S.A. now owns 122,141 shares of the industrial products company’s stock valued at $9,435,000 after buying an additional 93,420 shares during the last quarter. Finally, Raymond James & Associates raised its position in shares of AZZ by 6.7% during the second quarter. Raymond James & Associates now owns 25,135 shares of the industrial products company’s stock valued at $1,942,000 after buying an additional 1,584 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 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.