The glitz and glamour of the market rally has been dirtied up a bit over the last couple of weeks. 2024 did not start off as a continuation of year-end bullishness but rather, a more cautionary stance. The headlines have been dominated by the launch of the spot Bitcoin ETF and equities are now facing a new set of concerns moving forward. Rate cuts are at the center of every investment conversation only now it’s the when and not the if.

This tumultuous market could lead investors to despair. But there’s gold hidden in that emotion. Stocks which have immense earnings growth and estimates continuing to push higher are in the best position to weather any market storm. One such stock is today’s Bull of the Day, AZZ (AZZ).

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Image Source: Zacks Investment Research

AZZ Inc. provides hot-dip galvanizing and coil coating solutions in the United States, Canada, Brazil, China, the Netherlands, Poland, Singapore, and India. The AZZ Metal Coatings segment offers metal finishing solutions for corrosion protection, including hot-dip galvanizing, spin galvanizing, powder coating, anodizing, and plating to steel fabrication and other industries. The AZZ Precoat Metals segment provides aesthetic and corrosion protective coatings and related value-added services for steel and aluminum coil primarily serving the construction; appliance; heating, ventilation, and air conditioning; container; transportation; and other end markets. 

AZZ is in the Manufacturing - Electronics industry which ranks in the Top 6% of our Zacks Industry Rank. It is currently a Zacks Rank #1 (Strong Buy) with a Zacks Value Style Score of A, Growth Style Score of A and Momentum Style Score of D with a VGM Composite Score of A. The reason for the favorable rank is that analysts have been upping their earnings estimates for the current year and next year. Over the last week alone, two have pushed up their current year numbers while one has followed suit for next year. The bullish moves have increased our Zacks Consensus Estimates for the current year from $4.08 to $4.19 while next year’s number is up from $4.43 to $4.60.

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