AZZ (NYSE:AZZ) Price Target Raised to $108.00

AZZ (NYSE:AZZ - Get Free Report) had its price target increased by stock analysts at Evercore ISI from $90.00 to $108.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has an "outperform" rating on the industrial products company's stock. Evercore ISI's target price would suggest a potential upside of 1.93% from the stock's current price.

Separately, Sidoti lowered shares of AZZ from a "buy" rating to a "neutral" rating and set a $101.00 price objective for the company. in a research report on Monday, June 9th. Four investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $108.00.

AZZ Stock Down 0.3%

NYSE:AZZ traded down $0.34 during mid-day trading on Wednesday, reaching $105.95. The company's stock had a trading volume of 503,073 shares, compared to its average volume of 221,738. AZZ has a 1 year low of $69.59 and a 1 year high of $113.58. The stock has a fifty day moving average of $93.00 and a 200-day moving average of $89.05. The firm has a market capitalization of $3.18 billion, a PE ratio of 12.28 and a beta of 1.24. The company has a quick ratio of 1.19, a current ratio of 1.51 and a debt-to-equity ratio of 0.47.

AZZ (NYSE:AZZ - Get Free Report) last released its quarterly earnings data on Wednesday, July 9th. The industrial products company reported $1.78 earnings per share for the quarter, topping analysts' consensus estimates of $1.59 by $0.19. AZZ had a net margin of 16.40% and a return on equity of 15.54%. The company had revenue of $421,962 billion during the quarter, compared to analyst estimates of $435.91 million. During the same period in the prior year, the firm earned $1.46 earnings per share. The firm's revenue for the quarter was up 2.1% compared to the same quarter last year. Equities research analysts forecast that AZZ will post 5.13 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Thomas E. Ferguson sold 26,889 shares of the stock in a transaction that occurred on Wednesday, April 30th. The shares were sold at an average price of $85.88, for a total value of $2,309,227.32. Following the transaction, the chief executive officer owned 211,458 shares in the company, valued at approximately $18,160,013.04. This represents a 11.28% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.77% of the company's stock.

Hedge Funds Weigh In On AZZ

Several hedge funds and other institutional investors have recently bought and sold shares of AZZ. Signaturefd LLC increased its holdings in AZZ by 110.0% in the 1st quarter. Signaturefd LLC now owns 399 shares of the industrial products company's stock worth $33,000 after buying an additional 209 shares during the period. US Bancorp DE grew its stake in shares of AZZ by 39.0% during the 4th quarter. US Bancorp DE now owns 463 shares of the industrial products company's stock worth $38,000 after purchasing an additional 130 shares during the period. Smartleaf Asset Management LLC grew its stake in shares of AZZ by 202.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 475 shares of the industrial products company's stock worth $39,000 after purchasing an additional 318 shares during the period. Farther Finance Advisors LLC grew its stake in shares of AZZ by 32.4% during the 4th quarter. Farther Finance Advisors LLC now owns 515 shares of the industrial products company's stock worth $42,000 after purchasing an additional 126 shares during the period. Finally, Quarry LP grew its stake in shares of AZZ by 2,150.0% during the 4th quarter. Quarry LP now owns 855 shares of the industrial products company's stock worth $70,000 after purchasing an additional 817 shares during the period. Institutional investors and hedge funds own 90.93% of the company's stock.

About AZZ

AZZ Inc provides hot-dip galvanizing and coil coating solutions in North America. It offers metal finishing solutions for corrosion protection, including hot-dip galvanizing, spin galvanizing, powder coating, anodizing, and plating to steel fabrication and other industries, as well as to fabricators or manufacturers that provide services to the transmission and distribution, bridge and highway, petrochemical, and general industrial markets; and original equipment manufacturers.