AZEK (NYSE:AZEK) PT Raised to $49.00

AZEK (NYSE:AZEK) had its price target lifted by investment analysts at BMO Capital Markets from $46.00 to $49.00 in a research note issued on Tuesday, Benzinga reports. The brokerage presently has a “market perform” rating on the stock. BMO Capital Markets’ price target would suggest a potential upside of 15.48% from the stock’s previous close.

Several other equities analysts have also issued reports on AZEK. Barclays lowered their price target on AZEK from $58.00 to $52.00 and set an “overweight” rating on the stock in a research note on Friday, July 12th. Citigroup cut their target price on AZEK from $50.00 to $44.00 and set a “neutral” rating for the company in a research report on Thursday, July 11th. Loop Capital cut AZEK from a “buy” rating to a “hold” rating and set a $47.00 price target on the stock. in a research report on Friday, October 4th. Royal Bank of Canada cut their price objective on AZEK from $49.00 to $46.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Finally, DA Davidson lowered shares of AZEK from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $57.00 to $44.00 in a report on Wednesday, July 3rd. Six analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, AZEK presently has an average rating of “Moderate Buy” and an average target price of $48.12.

AZEK Stock Performance

Shares of NYSE:AZEK traded down $0.77 during midday trading on Tuesday, hitting $42.43. The company’s stock had a trading volume of 388,049 shares, compared to its average volume of 1,730,144. AZEK has a fifty-two week low of $25.03 and a fifty-two week high of $50.78. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.11 and a current ratio of 3.07. The stock has a market capitalization of $6.17 billion, a price-to-earnings ratio of 41.58, a PEG ratio of 1.10 and a beta of 1.88. The stock’s 50 day simple moving average is $43.57 and its 200 day simple moving average is $44.42.

AZEK (NYSE:AZEK) last released its earnings results on Wednesday, August 7th. The company reported $0.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.06. AZEK had a return on equity of 13.38% and a net margin of 11.35%. The firm had revenue of $434.40 million for the quarter, compared to analyst estimates of $396.89 million. During the same quarter last year, the firm posted $0.29 EPS. The company’s revenue was up 12.1% on a year-over-year basis. As a group, research analysts anticipate that AZEK will post 1.05 earnings per share for the current year.

Insider Activity

In related news, CEO Jesse G. Singh sold 20,000 shares of AZEK stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $41.47, for a total transaction of $829,400.00. Following the transaction, the chief executive officer now owns 186,705 shares of the company’s stock, valued at $7,742,656.35. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other AZEK news, Director Pamela J. Edwards acquired 600 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The stock was acquired at an average cost of $41.70 per share, for a total transaction of $25,020.00. Following the transaction, the director now owns 8,708 shares of the company’s stock, valued at $363,123.60. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jesse G. Singh sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $41.47, for a total transaction of $829,400.00. Following the sale, the chief executive officer now owns 186,705 shares in the company, valued at $7,742,656.35. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in AZEK. Vanguard Group Inc. lifted its position in AZEK by 3.2% in the 1st quarter. Vanguard Group Inc. now owns 13,482,323 shares of the company’s stock valued at $677,082,000 after acquiring an additional 413,297 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of AZEK by 5.3% during the second quarter. Dimensional Fund Advisors LP now owns 2,354,096 shares of the company’s stock worth $99,175,000 after buying an additional 118,351 shares in the last quarter. Mercer Global Advisors Inc. ADV acquired a new stake in AZEK in the 2nd quarter valued at approximately $86,719,000. Westfield Capital Management Co. LP lifted its stake in AZEK by 1.7% in the 1st quarter. Westfield Capital Management Co. LP now owns 1,487,700 shares of the company’s stock valued at $74,712,000 after acquiring an additional 25,515 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its position in AZEK by 66.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,466,145 shares of the company’s stock worth $73,631,000 after acquiring an additional 587,107 shares during the last quarter. Institutional investors and hedge funds own 97.44% of the company’s stock.

AZEK Company Profile

The AZEK Company Inc engages in the design, manufacturing, and selling of building products for residential, commercial, and industrial markets in the United States and Canada. It operates through two segments: Residential and Commercial. The Residential segment designs and manufactures engineered outdoor living products, such as decking, railing, trim and molding, siding and cladding, pergolas and cabanas, and accessories under the TimberTech, AZEK Exteriors, VERSATEX, ULTRALOX, StruXure, and INTEX brands.