AZZ (NYSE:AZZ) Now Covered by Analysts at B. Riley

B. Riley assumed coverage on shares of AZZ (NYSE:AZZ) in a research note published on Wednesday morning, MarketBeat reports. The firm issued a buy rating and a $64.00 price objective on the industrial products company’s stock.

Other equities research analysts have also recently issued research reports about the company. TheStreet upgraded AZZ from a c+ rating to a b- rating in a research note on Monday, July 10th. StockNews.com began coverage on AZZ in a research note on Thursday, August 17th. They issued a hold rating for the company. Finally, Noble Financial began coverage on AZZ in a research note on Monday, August 21st. They issued an outperform rating and a $60.00 price objective for the company. Two analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $55.25.

AZZ Price Performance

AZZ stock opened at $49.36 on Wednesday. The business has a 50 day moving average price of $44.68 and a 200 day moving average price of $40.86. The stock has a market cap of $1.23 billion, a price-to-earnings ratio of -24.68 and a beta of 1.32. AZZ has a fifty-two week low of $30.21 and a fifty-two week high of $50.86. The company has a quick ratio of 1.46, a current ratio of 2.27 and a debt-to-equity ratio of 1.19.

AZZ (NYSE:AZZ) last posted its earnings results on Monday, July 10th. The industrial products company reported $1.14 earnings per share for the quarter, missing the consensus estimate of $1.16 by ($0.02). The business had revenue of $390.87 million for the quarter, compared to analysts’ expectations of $396.65 million. AZZ had a positive return on equity of 11.93% and a negative net margin of 3.22%. AZZ’s revenue for the quarter was up 88.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.40 EPS. Equities research analysts anticipate that AZZ will post 3.96 earnings per share for the current fiscal year.

AZZ Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 26th. Stockholders of record on Wednesday, July 12th were issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.38%. The ex-dividend date of this dividend was Tuesday, July 11th. AZZ’s payout ratio is currently -34.00%.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of AZZ. State of Wyoming acquired a new position in AZZ during the fourth quarter worth $29,000. Tower Research Capital LLC TRC grew its holdings in AZZ by 557.7% during the first quarter. Tower Research Capital LLC TRC now owns 1,848 shares of the industrial products company’s stock worth $76,000 after acquiring an additional 1,567 shares during the period. Quantbot Technologies LP acquired a new position in AZZ during the second quarter worth $93,000. Captrust Financial Advisors grew its holdings in AZZ by 31.5% during the first quarter. Captrust Financial Advisors now owns 2,431 shares of the industrial products company’s stock worth $117,000 after acquiring an additional 583 shares during the period. Finally, UBS Group AG grew its holdings in AZZ by 44.1% during the third quarter. UBS Group AG now owns 3,538 shares of the industrial products company’s stock worth $129,000 after acquiring an additional 1,083 shares during the period. Institutional investors and hedge funds own 88.16% of the company’s stock.

AZZ Company Profile

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.