AZZ

Jefferies Initiates Coverage of AZZ (AZZ) with Buy Recommendation

Fintel reports that on May 20, 2024, Jefferies initiated coverage of AZZ (NYSE:AZZ) with a Buy recommendation.

Analyst Price Forecast Suggests 17.80% Upside

As of May 8, 2024, the average one-year price target for AZZ is 90.27. The forecasts range from a low of 80.80 to a high of $105.00. The average price target represents an increase of 17.80% from its latest reported closing price of 76.63.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for AZZ is 1,970MM, an increase of 28.12%. The projected annual non-GAAP EPS is 4.74, an increase of 1.56% from the prior forecast.

What is the Fund Sentiment?

There are 500 funds or institutions reporting positions in AZZ. This is an increase of 34 owner(s) or 7.30% in the last quarter. Average portfolio weight of all funds dedicated to AZZ is -2.07%, an increase of 1,220.50%. Total shares owned by institutions increased in the last three months by 0.69% to 26,239K shares. AZZ / AZZ Inc. Put/Call Ratios The put/call ratio of AZZ is 2.81, indicating a bearish outlook.

What are Other Shareholders Doing?

AZZ / AZZ Inc. Shares Held by Institutions

T. Rowe Price Investment Management holds 2,528K shares representing 8.51% ownership of the company. In its prior filing, the firm reported owning 2,501K shares , representing an increase of 1.06%. The firm increased its portfolio allocation in AZZ by 26.57% over the last quarter.

IJR - iShares Core S&P Small-Cap ETF holds 1,679K shares representing 5.65% ownership of the company. In its prior filing, the firm reported owning 1,689K shares , representing a decrease of 0.62%. The firm increased its portfolio allocation in AZZ by 9.53% over the last quarter.

OTCFX - T. Rowe Price Small-Cap Stock Fund holds 1,145K shares representing 3.86% ownership of the company. In its prior filing, the firm reported owning 1,147K shares , representing a decrease of 0.15%. The firm increased its portfolio allocation in AZZ by 13.82% over the last quarter.

Segall Bryant & Hamill holds 801K shares representing 2.70% ownership of the company. In its prior filing, the firm reported owning 890K shares , representing a decrease of 11.14%. The firm increased its portfolio allocation in AZZ by 16.44% over the last quarter.

VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 743K shares representing 2.50% ownership of the company. In its prior filing, the firm reported owning 725K shares , representing an increase of 2.33%. The firm increased its portfolio allocation in AZZ by 16.61% over the last quarter.

AZZ Background Information
(This description is provided by the company.)

AZZ Inc. is a global provider of metal coating solutions, welding solutions, specialty electrical equipment and highly engineered services to the power generation, transmission, distribution and industrial markets. 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 Infrastructure Solutions 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.

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This story originally appeared on Fintel.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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