AZEK (NYSE:AZEK) PT Raised to $49.00

AZEK (NYSE:AZEK) had its price objective increased by investment analysts at BMO Capital Markets from $46.00 to $49.00 in a report issued on Tuesday, Benzinga reports. The firm currently has a “market perform” rating on the stock. BMO Capital Markets’ price target would suggest a potential upside of 16.07% from the stock’s previous close.

Other equities research analysts have also recently issued reports about the company. Truist Financial lowered their price objective on AZEK from $57.00 to $52.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Citigroup lowered their price target on AZEK from $50.00 to $44.00 and set a “neutral” rating on the stock in a research note on Thursday, July 11th. Benchmark reissued a “buy” rating and issued a $55.00 price objective on shares of AZEK in a research note on Friday, August 9th. The Goldman Sachs Group decreased their price objective on AZEK from $56.00 to $50.00 and set a “buy” rating on the stock in a report on Wednesday, July 10th. Finally, Loop Capital cut shares of AZEK from a “buy” rating to a “hold” rating and set a $47.00 target price for the company. in a research report on Friday, October 4th. Six equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $48.12.

AZEK Trading Down 0.7 %

Shares of AZEK stock opened at $42.22 on Tuesday. The stock has a 50 day simple moving average of $43.62 and a 200-day simple moving average of $44.37. AZEK has a 1-year low of $25.03 and a 1-year high of $50.78. The company has a market cap of $6.14 billion, a price-to-earnings ratio of 41.39, a PEG ratio of 1.10 and a beta of 1.88. The company has a debt-to-equity ratio of 0.41, a current ratio of 3.07 and a quick ratio of 2.11.

AZEK (NYSE:AZEK) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $0.42 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.06. AZEK had a net margin of 11.35% and a return on equity of 13.38%. The company had revenue of $434.40 million during the quarter, compared to analysts’ expectations of $396.89 million. During the same period in the prior year, the business posted $0.29 earnings per share. The firm’s revenue for the quarter was up 12.1% on a year-over-year basis. On average, equities research analysts expect that AZEK will post 1.05 EPS for the current fiscal year.

Insider Activity at AZEK

In other AZEK news, Director Pamela J. Edwards purchased 600 shares of the firm’s stock in a transaction dated Thursday, August 15th. The shares were acquired at an average price of $41.70 per share, with a total value of $25,020.00. Following the purchase, the director now directly owns 8,708 shares in the company, valued at approximately $363,123.60. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, Director Pamela J. Edwards purchased 600 shares of the company’s stock in a transaction 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 completion of the transaction, the director now directly owns 8,708 shares in the company, valued at approximately $363,123.60. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Jesse G. Singh sold 20,000 shares of the company’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 completion of the transaction, the chief executive officer now owns 186,705 shares in the company, valued at approximately $7,742,656.35. This 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 insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the company. Tidal Investments LLC lifted its stake in AZEK by 3.7% during the 1st quarter. Tidal Investments LLC now owns 7,060 shares of the company’s stock worth $355,000 after acquiring an additional 251 shares in the last quarter. Creative Planning increased its stake in AZEK by 6.6% during the third quarter. Creative Planning now owns 6,987 shares of the company’s stock worth $327,000 after purchasing an additional 430 shares during the period. Blue Trust Inc. lifted its position in shares of AZEK by 106.4% during the third quarter. Blue Trust Inc. now owns 931 shares of the company’s stock worth $44,000 after purchasing an additional 480 shares in the last quarter. Signaturefd LLC lifted its position in shares of AZEK by 32.7% during the second quarter. Signaturefd LLC now owns 2,157 shares of the company’s stock worth $91,000 after purchasing an additional 532 shares in the last quarter. Finally, CWM LLC boosted its stake in shares of AZEK by 12.5% in the third quarter. CWM LLC now owns 5,735 shares of the company’s stock valued at $268,000 after purchasing an additional 636 shares during the period. 97.44% of the stock is currently owned by hedge funds and other institutional investors.

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.