Zacks Investment Research cut shares of AZZ (NYSE:AZZ) from a strong-buy rating to a hold rating in a research report report published on Tuesday morning.

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. “

A number of other analysts have also commented on the stock. ValuEngine raised shares of AZZ from a sell rating to a hold rating in a report on Friday, June 1st. Stifel Nicolaus lowered their target price on shares of AZZ from $48.00 to $47.00 and set a hold rating for the company in a report on Friday, May 18th. Finally, TheStreet raised shares of AZZ from a c+ rating to a b- rating in a research report on Thursday, July 26th.

AZZ opened at $53.45 on Tuesday. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.96 and a quick ratio of 2.07. AZZ has a 52 week low of $39.50 and a 52 week high of $56.05. The firm has a market cap of $1.39 billion, a price-to-earnings ratio of 39.59 and a beta of 1.43.

AZZ (NYSE:AZZ) last released its earnings results on Tuesday, July 3rd. The industrial products company reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.47 by $0.13. AZZ had a net margin of 5.50% and a return on equity of 4.99%. The firm had revenue of $262.24 million during the quarter, compared to analyst estimates of $228.87 million. During the same quarter in the previous year, the business earned $0.46 EPS. The business’s quarterly revenue was up 27.7% compared to the same quarter last year. equities analysts expect that AZZ will post 2.2 EPS for the current year.

In other news, insider Matthew Varley Emery sold 844 shares of AZZ stock in a transaction on Wednesday, August 8th. The shares were sold at an average price of $54.05, for a total transaction of $45,618.20. Following the transaction, the insider now directly owns 7,523 shares of the company’s stock, valued at $406,618.15. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Daniel R. Feehan sold 2,003 shares of AZZ stock in a transaction on Wednesday, July 11th. The stock was sold at an average price of $54.50, for a total transaction of $109,163.50. Following the transaction, the director now directly owns 64,497 shares in the company, valued at $3,515,086.50. The disclosure for this sale can be found here. Company insiders own 0.01% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Xact Kapitalforvaltning AB lifted its position in AZZ by 27.7% in the 1st quarter. Xact Kapitalforvaltning AB now owns 5,537 shares of the industrial products company’s stock valued at $242,000 after acquiring an additional 1,200 shares in the last quarter. Rhumbline Advisers lifted its position in AZZ by 2.9% in the 2nd quarter. Rhumbline Advisers now owns 66,254 shares of the industrial products company’s stock valued at $2,879,000 after acquiring an additional 1,894 shares in the last quarter. Legal & General Group Plc lifted its position in AZZ by 5.0% in the 2nd quarter. Legal & General Group Plc now owns 54,826 shares of the industrial products company’s stock valued at $2,372,000 after acquiring an additional 2,590 shares in the last quarter. Sheets Smith Wealth Management lifted its position in AZZ by 46.5% in the 2nd quarter. Sheets Smith Wealth Management now owns 10,625 shares of the industrial products company’s stock valued at $462,000 after acquiring an additional 3,373 shares in the last quarter. Finally, Eagle Boston Investment Management Inc. lifted its position in AZZ by 4.4% in the 2nd quarter. Eagle Boston Investment Management Inc. now owns 91,618 shares of the industrial products company’s stock valued at $3,980,000 after acquiring an additional 3,835 shares in the last quarter. 92.61% of the stock is currently owned by institutional investors.

About AZZ

AZZ Inc provides galvanizing and metal coating services, welding solutions, specialty electrical equipment, and highly engineered services to the power generation, transmission, distribution, refining, and industrial markets. The company operates through two segments, Energy Segment and Metal Coatings.

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