Stifel Nicolaus restated their hold rating on shares of AZZ Inc. (NYSE:AZZ) in a research note issued to investors on Thursday morning. The firm currently has a $56.00 price target on the industrial products company’s stock.

A number of other brokerages have also weighed in on AZZ. Zacks Investment Research upgraded AZZ from a strong sell rating to a hold rating in a research note on Wednesday, June 21st. BidaskClub lowered AZZ from a hold rating to a sell rating in a research note on Friday, July 28th. Finally, TheStreet lowered AZZ from a b rating to a c+ rating in a research note on Friday, July 7th.

Shares of AZZ (NYSE:AZZ) opened at 48.35 on Thursday. The stock’s 50 day moving average price is $49.09 and its 200 day moving average price is $54.72. The company has a market cap of $1.26 billion, a PE ratio of 23.81 and a beta of 1.58. AZZ has a one year low of $46.20 and a one year high of $67.70.

AZZ (NYSE:AZZ) last announced its earnings results on Thursday, July 6th. The industrial products company reported $0.51 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.70 by $0.19. AZZ had a net margin of 6.44% and a return on equity of 10.98%. The business had revenue of $208.60 million during the quarter, compared to analyst estimates of $225.08 million. During the same quarter last year, the business posted $0.81 earnings per share. The business’s quarterly revenue was down 14.1% compared to the same quarter last year. Equities analysts predict that AZZ will post $2.62 earnings per share for the current fiscal year.

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In other news, CFO Paul Wesley Fehlman purchased 1,500 shares of the firm’s stock in a transaction that occurred on Tuesday, July 11th. The shares were acquired at an average price of $49.31 per share, for a total transaction of $73,965.00. Following the completion of the acquisition, the chief financial officer now directly owns 9,287 shares in the company, valued at $457,941.97. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Thomas E. Ferguson purchased 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 11th. The stock was purchased at an average price of $49.59 per share, for a total transaction of $247,950.00. Following the acquisition, the insider now owns 49,037 shares of the company’s stock, valued at $2,431,744.83. The disclosure for this purchase can be found here. Company insiders own 0.01% of the company’s stock.

A number of institutional investors have recently bought and sold shares of the stock. Pinebridge Investments L.P. boosted its holdings in AZZ by 1.3% in the second quarter. Pinebridge Investments L.P. now owns 3,431 shares of the industrial products company’s stock valued at $191,000 after acquiring an additional 45 shares during the last quarter. State of Alaska Department of Revenue boosted its holdings in AZZ by 1.8% in the first quarter. State of Alaska Department of Revenue now owns 2,860 shares of the industrial products company’s stock valued at $170,000 after acquiring an additional 50 shares during the last quarter. Ironwood Investment Management LLC boosted its holdings in AZZ by 0.4% in the first quarter. Ironwood Investment Management LLC now owns 17,925 shares of the industrial products company’s stock valued at $1,067,000 after acquiring an additional 65 shares during the last quarter. Bbva Compass Bancshares Inc. boosted its holdings in AZZ by 1.7% in the first quarter. Bbva Compass Bancshares Inc. now owns 4,845 shares of the industrial products company’s stock valued at $288,000 after acquiring an additional 80 shares during the last quarter. Finally, Louisiana State Employees Retirement System boosted its holdings in AZZ by 1.0% in the first quarter. Louisiana State Employees Retirement System now owns 10,600 shares of the industrial products company’s stock valued at $631,000 after acquiring an additional 100 shares during the last quarter. Institutional investors and hedge funds own 85.81% of the company’s stock.

About AZZ

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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