AZZ (NYSE:AZZ – Get Rating) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Friday.
Shares of AZZ traded up $0.17 during trading hours on Friday, reaching $42.26. 215,845 shares of the company traded hands, compared to its average volume of 121,219. The stock’s fifty day moving average is $45.15 and its 200 day moving average is $48.62. The stock has a market cap of $1.05 billion, a P/E ratio of 12.58 and a beta of 1.31. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.73 and a current ratio of 2.57. AZZ has a 1-year low of $41.41 and a 1-year high of $58.59.
AZZ (NYSE:AZZ – Get Rating) last announced its quarterly earnings data on Friday, April 22nd. The industrial products company reported $0.86 EPS for the quarter, beating analysts’ consensus estimates of $0.68 by $0.18. The business had revenue of $224.70 million during the quarter, compared to analyst estimates of $225.23 million. AZZ had a net margin of 9.31% and a return on equity of 12.94%. The firm’s revenue for the quarter was up 14.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.62 earnings per share. On average, equities research analysts predict that AZZ will post 3.83 EPS for the current year.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. increased its stake in AZZ by 15.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 322,381 shares of the industrial products company’s stock valued at $17,825,000 after acquiring an additional 42,479 shares during the period. Orchard Capital Managment LLC grew its stake in AZZ by 1.9% during the fourth quarter. Orchard Capital Managment LLC now owns 146,519 shares of the industrial products company’s stock worth $8,101,000 after buying an additional 2,700 shares during the last quarter. GABELLI & Co INVESTMENT ADVISERS INC. bought a new stake in shares of AZZ during the fourth quarter valued at approximately $242,000. Yousif Capital Management LLC bought a new stake in shares of AZZ during the fourth quarter valued at approximately $1,259,000. Finally, New York State Teachers Retirement System grew its stake in shares of AZZ by 11.2% during the fourth quarter. New York State Teachers Retirement System now owns 22,767 shares of the industrial products company’s stock valued at $1,259,000 after purchasing an additional 2,300 shares during the last quarter. 88.97% of the stock is currently owned by institutional investors and hedge funds.
About AZZ (Get Rating)
AZZ Inc offers galvanizing and metal coating solutions, welding solutions, specialty electrical equipment, and engineered services to the power generation, transmission, distribution, refining, and industrial markets in the United States and internationally. The company operates through two segments, Infrastructure Solutions and Metal Coatings.