Out of the Gate: AZZ shares jump on outlook

By Associated Press
June 27, 2008 | Comments (0)

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Shares of AZZ Inc. jumped more than 20 percent after the maker of electronic components raised its outlook for 2008.

The company, which also offers galvanizing services, boosted its earnings per share projection for the year to $2.95 to $3.05. Analysts polled by Thomson Financial expect, on average, earnings per share of $2.43.

CJS Securities initiated coverage of the Fort Worth, Texas company with a "market outperform" rating, indicating the firm believes the stock will perform at least 15 percent better than the Russell 2000 Index over the next six to 18 months.

In early trading, AZZ shares were up $8.43, or 26.1 percent, to $40.56.

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