Short Interest in AZZ Inc. (NYSE:AZZ) Decreases By 6.5%

AZZ Inc. (NYSE:AZZ) was the target of a large decrease in short interest in September. As of September 15th, there was short interest totalling 767,700 shares, a decrease of 6.5% from the August 31st total of 821,000 shares. Based on an average daily trading volume, of 239,300 shares, the days-to-cover ratio is presently 3.2 days.

AZZ Trading Down 1.8 %

Shares of AZZ opened at $81.16 on Wednesday. AZZ has a 12-month low of $43.48 and a 12-month high of $88.67. The firm has a market capitalization of $2.42 billion, a price-to-earnings ratio of 75.85, a P/E/G ratio of 1.18 and a beta of 1.24. The stock’s 50-day moving average price is $78.74 and its 200 day moving average price is $78.61. The company has a quick ratio of 1.28, a current ratio of 1.89 and a debt-to-equity ratio of 1.36.

AZZ (NYSE:AZZ) last issued its earnings results on Wednesday, July 10th. The industrial products company reported $1.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.30 by $0.16. AZZ had a return on equity of 17.08% and a net margin of 7.22%. The business had revenue of $413.21 million during the quarter, compared to analysts’ expectations of $403.25 million. During the same period in the prior year, the firm posted $1.14 EPS. AZZ’s quarterly revenue was up 5.7% compared to the same quarter last year. As a group, research analysts predict that AZZ will post 4.93 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Evercore ISI initiated coverage on AZZ in a research report on Friday, June 14th. They issued an “outperform” rating and a $90.00 target price on the stock. Baird R W upgraded shares of AZZ to a “hold” rating in a research note on Tuesday, July 23rd. Robert W. Baird began coverage on shares of AZZ in a report on Tuesday, July 23rd. They issued a “neutral” rating and a $90.00 price objective for the company. Wolfe Research started coverage on shares of AZZ in a research report on Wednesday, July 31st. They set a “peer perform” rating on the stock. Finally, Noble Financial upgraded AZZ from a “market perform” rating to an “outperform” rating and set a $95.00 price target for the company in a research note on Tuesday, June 11th. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $95.80.

Insider Buying and Selling

In other AZZ news, COO Bryan Lee Stovall sold 14,545 shares of the business’s stock in a transaction on Thursday, July 18th. The stock was sold at an average price of $84.79, for a total transaction of $1,233,270.55. Following the completion of the transaction, the chief operating officer now owns 20,000 shares in the company, valued at approximately $1,695,800. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other AZZ news, insider Tara D. Mackey sold 331 shares of the firm’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $83.50, for a total value of $27,638.50. Following the completion of the transaction, the insider now directly owns 34,229 shares in the company, valued at $2,858,121.50. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Bryan Lee Stovall sold 14,545 shares of AZZ stock in a transaction that occurred on Thursday, July 18th. The stock was sold at an average price of $84.79, for a total transaction of $1,233,270.55. Following the transaction, the chief operating officer now owns 20,000 shares in the company, valued at $1,695,800. The disclosure for this sale can be found here. Corporate insiders own 2.10% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Financial Synergies Wealth Advisors Inc. acquired a new position in shares of AZZ during the first quarter worth approximately $32,000. CWM LLC lifted its holdings in AZZ by 69.4% during the 2nd quarter. CWM LLC now owns 459 shares of the industrial products company’s stock worth $35,000 after buying an additional 188 shares in the last quarter. Point72 DIFC Ltd bought a new position in AZZ in the 2nd quarter valued at $52,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of AZZ in the 2nd quarter valued at $67,000. Finally, 1620 Investment Advisors Inc. bought a new stake in shares of AZZ during the second quarter worth $72,000. 90.93% of the stock is owned by institutional investors and hedge funds.

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.