Wolfe Research Reaffirms Peer Perform Rating for AZEK (NYSE:AZEK)

Wolfe Research restated their peer perform rating on shares of AZEK (NYSE:AZEK) in a report published on Wednesday morning, MarketBeat reports.

Several other equities analysts have also commented on AZEK. Stephens reiterated an “equal weight” rating and issued a $58.00 target price on shares of AZEK in a research note on Monday, March 24th. BMO Capital Markets raised their target price on shares of AZEK from $54.00 to $57.00 and gave the stock a “market perform” rating in a research report on Monday, March 24th. Royal Bank of Canada upped their price target on shares of AZEK from $50.00 to $58.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. Barclays lifted their price target on shares of AZEK from $58.00 to $64.00 and gave the company an “overweight” rating in a report on Wednesday, December 11th. Finally, Citigroup reiterated a “neutral” rating and issued a $51.50 target price (down previously from $61.00) on shares of AZEK in a report on Tuesday. Nine equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $54.32.

AZEK Trading Down 0.3 %

AZEK stock opened at $49.65 on Wednesday. The stock has a market cap of $7.13 billion, a PE ratio of 50.15, a P/E/G ratio of 1.91 and a beta of 1.95. The company has a current ratio of 2.56, a quick ratio of 1.19 and a debt-to-equity ratio of 0.31. The stock has a 50-day moving average price of $47.40 and a 200 day moving average price of $47.37. AZEK has a 52 week low of $35.48 and a 52 week high of $54.91.

AZEK (NYSE:AZEK) last announced its quarterly earnings data on Tuesday, February 4th. The company reported $0.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.03. AZEK had a net margin of 9.85% and a return on equity of 13.47%. Equities research analysts predict that AZEK will post 1.34 earnings per share for the current fiscal year.

Insider Activity at AZEK

In other AZEK news, CEO Jesse G. Singh sold 20,387 shares of AZEK stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $50.08, for a total transaction of $1,020,980.96. Following the sale, the chief executive officer now directly owns 883,765 shares in the company, valued at $44,258,951.20. The trade was a 2.25 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In the last three months, insiders sold 55,000 shares of company stock valued at $2,518,624. Corporate insiders own 3.20% of the company’s stock.

Institutional Trading of AZEK

A number of hedge funds have recently made changes to their positions in the stock. Empowered Funds LLC bought a new position in AZEK during the 4th quarter valued at $27,000. FIL Ltd acquired a new stake in shares of AZEK in the 4th quarter valued at about $28,000. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of AZEK by 623.2% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 687 shares of the company’s stock worth $33,000 after purchasing an additional 592 shares during the last quarter. Avalon Trust Co acquired a new position in AZEK in the fourth quarter worth about $38,000. Finally, GAMMA Investing LLC increased its holdings in AZEK by 39.1% in the fourth quarter. GAMMA Investing LLC now owns 851 shares of the company’s stock valued at $40,000 after buying an additional 239 shares during the last quarter. Institutional investors and hedge funds own 97.44% of the company’s stock.

About AZEK

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.