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

AZZ (NYSE:AZZ) had its price objective raised by B. Riley from $67.00 to $85.00 in a research note published on Tuesday, Benzinga reports. B. Riley currently has a buy rating on the industrial products company’s stock.

Other equities analysts have also issued reports about the stock. StockNews.com lowered shares of AZZ from a buy rating to a hold rating in a 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 target price for the company. in a report on Friday, March 22nd.

AZZ Stock Performance

Shares of AZZ opened at $83.04 on Tuesday. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.96 and a quick ratio of 1.33. AZZ has a one year low of $34.59 and a one year high of $83.22. The company has a 50-day simple moving average of $75.03 and a two-hundred day simple moving average of $61.20. The firm has a market capitalization of $2.08 billion, a PE ratio of 29.98, a price-to-earnings-growth ratio of 1.14 and a beta of 1.28.

AZZ (NYSE:AZZ) last released its earnings results on Monday, April 22nd. The industrial products company reported $0.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.23. AZZ had a net margin of 5.63% and a return on equity of 13.15%. The firm had revenue of $366.50 million during the quarter, compared to analyst estimates of $351.67 million. During the same period last year, the business earned $0.30 earnings per share. The business’s revenue was up 8.9% on a year-over-year basis. On average, analysts anticipate that AZZ will post 4.31 EPS for the current fiscal year.

AZZ Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 2nd. Investors of record on Wednesday, April 17th will be given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 0.82%. The ex-dividend date of this dividend is Tuesday, April 16th. AZZ’s dividend payout ratio (DPR) is currently 24.55%.

Institutional Investors Weigh In On AZZ

Institutional investors and hedge funds have recently made changes to their positions in the company. Financial Synergies Wealth Advisors Inc. bought a new stake in shares of AZZ during the first quarter valued at approximately $32,000. Covestor Ltd increased its position in shares of AZZ by 131.5% during the third quarter. Covestor Ltd now owns 903 shares of the industrial products company’s stock valued at $41,000 after acquiring an additional 513 shares in the last quarter. Strs Ohio bought a new stake in shares of AZZ during the fourth quarter valued at approximately $197,000. Victory Capital Management Inc. bought a new stake in AZZ in the 3rd quarter worth approximately $203,000. Finally, Hennion & Walsh Asset Management Inc. bought a new stake in AZZ in the 1st quarter worth approximately $215,000. Institutional investors 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.