Hudson Securities Reiterates Neutral Rating on AZZ Inc. (AZZ)

Hudson Securities is out with a research report this morning, where it reiterates its Neutral rating on shares of AZZ Inc. AZZ; it has a $43.00 price target on the stock, down from $45.00. The HS analysts cited the company's recently reported Q3 earnings, which were generally worse than expected. The company missed on EPS, margins were tighter than expected, and the company hinted that more debt might be on the way. The analysts lowered their FY2011 EPS estimate to $2.77 from $2.80 and the 2012 EPS estimate to $3.10 from $3.22. They also lowered their price target to $43.00, from $45.00, based on 14x their 2012 EPS estimate of $3.10.