Fintel reports that on June 14, 2024, Evercore ISI Group initiated coverage of AZZ (NYSE:AZZ) with a Outperform recommendation.
Analyst Price Forecast Suggests 19.83% Upside
As of June 12, 2024, the average one-year price target for AZZ is 93.64. The forecasts range from a low of 80.80 to a high of $110.25. The average price target represents an increase of 19.83% from its latest reported closing price of 78.14.
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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 503 funds or institutions reporting positions in AZZ. This is an increase of 27 owner(s) or 5.67% in the last quarter. Average portfolio weight of all funds dedicated to AZZ is 0.22%, an increase of 110.20%. Total shares owned by institutions decreased in the last three months by 0.04% to 26,107K shares. 
The put/call ratio of AZZ is 0.63, indicating a bullish outlook.
What are Other Shareholders Doing?
T. Rowe Price Investment Management holds 2,528K shares representing 8.49% 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 1,700K shares representing 5.71% ownership of the company. In its prior filing, the firm reported owning 1,679K shares , representing an increase of 1.24%. The firm increased its portfolio allocation in AZZ by 29.07% over the last quarter.
OTCFX - T. Rowe Price Small-Cap Stock Fund holds 1,049K shares representing 3.52% ownership of the company. In its prior filing, the firm reported owning 1,145K shares , representing a decrease of 9.20%. The firm increased its portfolio allocation in AZZ by 17.93% over the last quarter.
Segall Bryant & Hamill holds 801K shares representing 2.69% 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 744K shares representing 2.50% ownership of the company. In its prior filing, the firm reported owning 743K shares , representing an increase of 0.16%. The firm increased its portfolio allocation in AZZ by 21.52% 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.
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