AZZ incorporated (AZZ): Price defines bullish 'pennant' pattern

Filed under: Earnings reports, General Electric (GE), Technical Analysis, Eaton Corp (ETN), Stocks to Buy

AZZ incorporated (NYSE: AZZ) makes electrical products that distribute power to and from generators, transformers, switching devices, and other electrical configurations. It also offers lighting products for the petroleum, food processing, and power generation industries. Its Galvanizing Services segment provides hot dip galvanizing to the steel fabrication industry. Competitors include General Electric (NYSE: GE) and Eaton Corporation (NYSE: ETN).

The company pleased investors late last month, when it reported fiscal Q1 EPS of 82 cents and revenues of $100.0 million. Analysts had been expecting 54 cents and $90.1 million. Incoming first quarter orders set a company record of $106.9 million. The book to ship ratio came in at 107%. Management also guided FY09 EPS to $2.95-$3.05 ($2.43 consensus) and FY09 revenues to $410-$425 million ($400.04M consensus).

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