AZZ (NYSE:AZZ) Price Target Raised to $110.00 at Jefferies Financial Group

AZZ (NYSE:AZZ - Get Free Report) had its price target boosted by equities research analysts at Jefferies Financial Group from $105.00 to $110.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has a "buy" rating on the industrial products company's stock. Jefferies Financial Group's price objective points to a potential upside of 15.30% from the stock's current price.

AZZ Stock Up 1.6 %

AZZ stock traded up $1.46 during mid-day trading on Friday, reaching $95.40. The company had a trading volume of 144,351 shares, compared to its average volume of 185,246. The firm has a fifty day simple moving average of $83.89 and a 200 day simple moving average of $80.95. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.32 and a current ratio of 1.85. The company has a market capitalization of $2.85 billion, a price-to-earnings ratio of 74.53, a price-to-earnings-growth ratio of 1.30 and a beta of 1.30. AZZ has a fifty-two week low of $50.27 and a fifty-two week high of $97.98.

AZZ (NYSE:AZZ - Get Free Report) last issued its earnings results on Wednesday, October 9th. The industrial products company reported $1.37 earnings per share for the quarter, beating the consensus estimate of $1.32 by $0.05. AZZ had a net margin of 7.63% and a return on equity of 16.88%. The firm had revenue of $409.01 million for the quarter, compared to analysts' expectations of $409.50 million. During the same quarter last year, the company earned $1.27 earnings per share. The firm's revenue was up 2.6% compared to the same quarter last year. Analysts forecast that AZZ will post 5.12 earnings per share for the current fiscal year.

Institutional Investors Weigh In On AZZ

Hedge funds and other institutional investors have recently made changes to their positions in the business. CWM LLC increased its position in shares of AZZ by 69.4% during the second quarter. CWM LLC now owns 459 shares of the industrial products company's stock worth $35,000 after purchasing an additional 188 shares in the last quarter. Welch Group LLC purchased a new stake in shares of AZZ in the second quarter valued at approximately $270,000. FSC Wealth Advisors LLC grew its stake in shares of AZZ by 38.6% during the 2nd quarter. FSC Wealth Advisors LLC now owns 951 shares of the industrial products company's stock worth $73,000 after purchasing an additional 265 shares during the period. Assenagon Asset Management S.A. grew its position in AZZ by 325.3% during the second quarter. Assenagon Asset Management S.A. now owns 122,141 shares of the industrial products company's stock worth $9,435,000 after buying an additional 93,420 shares during the period. Finally, Raymond James & Associates increased its stake in AZZ by 6.7% in the 2nd quarter. Raymond James & Associates now owns 25,135 shares of the industrial products company's stock valued at $1,942,000 after purchasing an additional 1,584 shares in the last quarter. 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.