AZZ (NYSE:AZZ) Shares Gap Down to $46.12

AZZ Inc. (NYSE:AZZGet Rating) gapped down prior to trading on Friday . The stock had previously closed at $46.12, but opened at $44.38. AZZ shares last traded at $44.23, with a volume of 200 shares changing hands.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Stifel Nicolaus lowered AZZ from a “buy” rating to a “hold” rating and set a $48.00 price objective on the stock. in a report on Friday. TheStreet downgraded AZZ from a “b-” rating to a “c+” rating in a research report on Friday, October 14th. StockNews.com upgraded AZZ from a “sell” rating to a “hold” rating in a research report on Thursday, October 20th. Finally, Sidoti upgraded AZZ from a “neutral” rating to a “buy” rating and set a $49.00 target price for the company in a research report on Wednesday, October 12th.

AZZ Trading Down 4.9 %

The firm has a market cap of $1.09 billion, a price-to-earnings ratio of -41.76 and a beta of 1.24. The business has a fifty day simple moving average of $40.87 and a 200-day simple moving average of $40.65. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.47 and a current ratio of 1.84.

AZZ (NYSE:AZZGet Rating) last released its earnings results on Tuesday, January 10th. The industrial products company reported $0.88 EPS for the quarter, topping the consensus estimate of $0.79 by $0.09. The business had revenue of $373.30 million during the quarter, compared to analysts’ expectations of $359.80 million. AZZ had a positive return on equity of 15.04% and a negative net margin of 2.46%. The firm’s revenue was up 176.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.85 earnings per share. As a group, equities analysts forecast that AZZ Inc. will post 4.15 earnings per share for the current fiscal year.

Insider Activity

In other AZZ news, insider Ken Lavelle purchased 2,000 shares of the company’s stock in a transaction that occurred on Monday, October 17th. The shares were acquired at an average cost of $34.68 per share, for a total transaction of $69,360.00. Following the completion of the acquisition, the insider now owns 24,361 shares of the company’s stock, valued at approximately $844,839.48. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.72% of the company’s stock.

Hedge Funds Weigh In On AZZ

Several hedge funds have recently made changes to their positions in AZZ. Eagle Bay Advisors LLC lifted its stake in AZZ by 69.5% during the third quarter. Eagle Bay Advisors LLC now owns 1,090 shares of the industrial products company’s stock worth $39,000 after purchasing an additional 447 shares during the last quarter. Quadrant Capital Group LLC raised its position in shares of AZZ by 659.4% in the 3rd quarter. Quadrant Capital Group LLC now owns 1,420 shares of the industrial products company’s stock worth $52,000 after acquiring an additional 1,233 shares in the last quarter. Point72 Hong Kong Ltd raised its position in shares of AZZ by 563.0% in the 3rd quarter. Point72 Hong Kong Ltd now owns 1,830 shares of the industrial products company’s stock worth $67,000 after acquiring an additional 1,554 shares in the last quarter. Tower Research Capital LLC TRC increased its position in AZZ by 34.5% during the 3rd quarter. Tower Research Capital LLC TRC now owns 2,380 shares of the industrial products company’s stock valued at $87,000 after buying an additional 611 shares in the last quarter. Finally, Quantbot Technologies LP bought a new position in AZZ during the 2nd quarter valued at approximately $93,000. 88.47% of the stock is currently owned by hedge funds and other institutional investors.

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.

Further Reading

Receive News & Ratings for AZZ Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AZZ and related companies with MarketBeat.com's FREE daily email newsletter.