AZZ Inc. (NYSE:AZZ) Short Interest Update

AZZ Inc. (NYSE:AZZ) experienced a notable decrease in short interest during October. As of October 15th, the short interest stood at 530,800 shares, marking a reduction of 31.3% from the September 30th figure of 772,200 shares. Given the average daily trading volume of 171,300 shares, the current days-to-cover ratio is 3.1 days.

Wall Street Analysts Forecast Growth

Recent analyses from various research firms indicate positive expectations for AZZ. Analysts project a potential upside of 25% from the current stock price. On July 23rd, Baird R W upgraded AZZ to a "hold" rating. Subsequently, Wolfe Research began coverage on the stock, issuing a "peer perform" rating. Additionally, Robert W. Baird established a "neutral" rating, setting a target price of $90.00. B. Riley also elevated their price target from $89.00 to $99.00, labeling the stock as a "buy" in their report on July 17th. Presently, four analysts have given the stock a hold rating, while another four have recommended buying it. According to MarketBeat, AZZ holds a consensus rating of "Moderate Buy" with an average price target of $95.80.

Institutional Inflows and Outflows

Several hedge funds have adjusted their holdings in AZZ recently. CWM LLC increased its stake by 69.4% in the second quarter, acquiring an additional 188 shares, leading to a total ownership of 459 shares valued at $35,000. Claro Advisors LLC raised its position by 7.7%, owning 3,298 shares after acquiring 236 more. FSC Wealth Advisors LLC also boosted its stake by 38.6%, resulting in ownership of 951 shares valued at $73,000. In the first quarter, Texas Permanent School Fund Corp increased its holdings by 1.3%, totaling 21,947 shares valued at $1,697,000. Finally, ProShare Advisors LLC enhanced its position by 7.4%, owning 5,010 shares valued at $387,000. Approximately 90.93% of AZZ’s stock is owned by institutional investors.

AZZ Price Performance

On Friday, AZZ's stock rose by $0.35, reaching $76.52, with a trading volume of 65,564 shares compared to an average of 233,621 shares. The company boasts a market capitalization of $2.28 billion, a price-to-earnings ratio of 71.51, and a P/E/G ratio of 1.18. AZZ’s current ratios stand at 1.89 and 1.28 for quick ratio, with a debt-to-equity ratio of 1.36. The stock has fluctuated between a 12-month low of $45.62 and a high of $88.67.

Quarterly Earnings Report

AZZ recently reported its quarterly earnings on October 9th, showing earnings of $1.37 per share, exceeding the consensus estimate of $1.32 by $0.05. The firm's revenue for the quarter was $409.01 million, slightly below analysts' expectations of $409.50 million. AZZ reported a return on equity of 18.19% and a net margin of 7.63%, achieving a revenue growth of 2.6% compared to the previous year. Analysts expect AZZ to report 4.95 earnings per share for the current fiscal year.

AZZ Dividend Information

The company recently announced a quarterly dividend of $0.17 per share, payable on November 1st to investors on record as of October 18th. This equates to an annualized dividend of $0.68, translating to a yield of 0.89%. The ex-dividend date was October 18th, with a dividend payout ratio currently at 63.55%.

Company Overview

AZZ Inc. specializes in hot-dip galvanizing and coil coating solutions across North America. The company provides metal finishing solutions aimed at corrosion protection, including services for the transmission and distribution, bridge and highway, petrochemical sectors, and other industries.

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