AZZ (NYSE:AZZ) Hits New 12-Month High - What's Next?

AZZ Inc. (NYSE:AZZ - Get Free Report) hit a new 52-week high on Monday . The stock traded as high as $98.13 and last traded at $97.87, with a volume of 105535 shares traded. The stock had previously closed at $95.55.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Roth Capital raised AZZ to a "strong-buy" rating in a research report on Tuesday. Roth Mkm assumed coverage on AZZ in a research report on Tuesday. They set a "buy" rating and a $108.00 target price on the stock. B. Riley boosted their price objective on AZZ from $99.00 to $111.00 and gave the company a "buy" rating in a research note on Tuesday. Finally, Jefferies Financial Group boosted their price objective on AZZ from $105.00 to $110.00 and gave the company a "buy" rating in a research note on Friday, December 6th. Four investment analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $100.67.

AZZ Stock Performance

The firm has a market cap of $2.91 billion, a price-to-earnings ratio of 65.97, a price-to-earnings-growth ratio of 1.33 and a beta of 1.30. The company has a quick ratio of 1.26, a current ratio of 1.77 and a debt-to-equity ratio of 0.85. The stock has a fifty day moving average price of $87.87 and a 200-day moving average price of $83.49.

AZZ (NYSE:AZZ - Get Free Report) last released its earnings results on Tuesday, January 7th. The industrial products company reported $1.39 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.29 by $0.10. The business had revenue of $403.65 million for the quarter, compared to analyst estimates of $394.30 million. AZZ had a return on equity of 16.99% and a net margin of 7.94%. The company's revenue for the quarter was up 5.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.19 earnings per share. On average, analysts expect that AZZ Inc. will post 5.13 earnings per share for the current fiscal year.

AZZ Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, February 20th. Stockholders of record on Thursday, January 30th will be issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.70%. The ex-dividend date is Thursday, January 30th. AZZ's payout ratio is currently 45.95%.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of AZZ. Farther Finance Advisors LLC increased its holdings in shares of AZZ by 3,790.0% in the third quarter. Farther Finance Advisors LLC now owns 389 shares of the industrial products company's stock valued at $32,000 after purchasing an additional 379 shares during the period. US Bancorp DE grew its holdings in AZZ by 39.0% during the fourth quarter. US Bancorp DE now owns 463 shares of the industrial products company's stock worth $38,000 after acquiring an additional 130 shares during the period. Smartleaf Asset Management LLC grew its holdings in AZZ by 202.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 475 shares of the industrial products company's stock worth $39,000 after acquiring an additional 318 shares during the period. CWM LLC grew its holdings in AZZ by 51.2% during the third quarter. CWM LLC now owns 694 shares of the industrial products company's stock worth $57,000 after acquiring an additional 235 shares during the period. Finally, KBC Group NV grew its holdings in AZZ by 50.8% during the fourth quarter. KBC Group NV now owns 1,244 shares of the industrial products company's stock worth $102,000 after acquiring an additional 419 shares during the period. Institutional investors and hedge funds own 90.93% of the company's stock.

AZZ Company Profile

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.