AZZ (NYSE:AZZ) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Tuesday.
According to Zacks, “AZZ Inc. is a global provider of metal coating services, welding solutions, specialty electrical equipment and highly engineered services to the markets of power generation, transmission, distribution and industrial in protecting metal and electrical systems used to build and enhance the world’s infrastructure. AZZ Metal Coatings is a leading provider of metal finishing solutions for corrosion protection, including hot dip galvanizing to the North American steel fabrication industry. AZZ Energy is dedicated to delivering safe and reliable transmission of power from generation sources to end customers, and automated weld overlay solutions for corrosion and erosion mitigation to critical infrastructure in the energy markets worldwide. “
Several other equities analysts also recently weighed in on the company. Stifel Nicolaus reduced their price target on AZZ from $56.00 to $52.00 and set a “hold” rating for the company in a report on Wednesday, September 27th. BidaskClub downgraded AZZ from a “sell” rating to a “strong sell” rating in a report on Saturday, August 19th.
AZZ (NYSE:AZZ) last announced its quarterly earnings data on Tuesday, October 3rd. The industrial products company reported $0.32 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.09). The firm had revenue of $190.40 million for the quarter, compared to analysts’ expectations of $193.70 million. AZZ had a net margin of 6.27% and a return on equity of 9.65%. The business’s quarterly revenue was down 2.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.55 EPS. equities research analysts forecast that AZZ will post 1.99 EPS for the current fiscal year.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Capital Analysts LLC bought a new stake in AZZ in the 2nd quarter worth about $108,000. Pinebridge Investments L.P. increased its holdings in AZZ by 1.3% in the 2nd quarter. Pinebridge Investments L.P. now owns 3,431 shares of the industrial products company’s stock worth $191,000 after buying an additional 45 shares in the last quarter. Amalgamated Bank increased its holdings in AZZ by 4.9% in the 2nd quarter. Amalgamated Bank now owns 3,595 shares of the industrial products company’s stock worth $201,000 after buying an additional 167 shares in the last quarter. Stoneridge Investment Partners LLC bought a new stake in AZZ in the 3rd quarter worth about $221,000. Finally, M&T Bank Corp bought a new stake in AZZ in the 2nd quarter worth about $238,000. Institutional investors own 87.86% of the company’s stock.
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AZZ Inc is a provider of galvanizing services, welding solutions, specialty electrical equipment and engineered services to the power generation, transmission, distribution, refining and industrial markets. The Company operates through two segments: Energy segment and Galvanizing segment. Its Energy segment provides products and services designed to support industrial, nuclear and electrical applications.
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