AZEK (NYSE:AZEK) Price Target Raised to $57.00

AZEK (NYSE:AZEK) had its price target lifted by Barclays from $53.00 to $57.00 in a research note issued to investors on Thursday,Benzinga reports. They currently have an overweight rating on the stock.

Several other research firms also recently weighed in on AZEK. Wolfe Research reissued a “peer perform” rating on shares of AZEK in a research note on Wednesday, March 26th. Stephens dropped their target price on AZEK from $58.00 to $53.00 and set an “equal weight” rating for the company in a report on Thursday. Baird R W cut AZEK from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 24th. Citigroup reissued a “neutral” rating and set a $51.50 price objective (down previously from $61.00) on shares of AZEK in a research note on Tuesday, March 25th. Finally, Raymond James set a $51.50 target price on shares of AZEK in a research note on Tuesday, March 25th. Ten equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $53.93.

AZEK Trading Up 0.9 %

Shares of AZEK stock opened at $50.33 on Thursday. The company has a quick ratio of 1.19, a current ratio of 2.56 and a debt-to-equity ratio of 0.31. The firm has a market cap of $7.23 billion, a P/E ratio of 50.84, a price-to-earnings-growth ratio of 1.91 and a beta of 1.86. The business has a 50-day moving average price of $46.43 and a two-hundred day moving average price of $48.09. AZEK has a 12-month low of $35.48 and a 12-month high of $54.91.

AZEK (NYSE:AZEK) last issued its earnings results on Tuesday, May 6th. The company reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.44 by $0.01. The business had revenue of $452.23 million during the quarter, compared to analyst estimates of $444.75 million. AZEK had a return on equity of 13.47% and a net margin of 9.85%. AZEK’s revenue for the quarter was up 8.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.39 earnings per share. Equities analysts anticipate that AZEK will post 1.34 EPS for the current fiscal year.

Insider Transactions at AZEK

In related news, CEO Jesse G. Singh sold 15,000 shares of the company’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $41.03, for a total value of $615,450.00. Following the sale, the chief executive officer now directly owns 868,765 shares of the company’s stock, valued at $35,645,427.95. This represents a 1.70 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 3.20% of the company’s stock.

Institutional Trading of AZEK

A number of hedge funds and other institutional investors have recently modified their holdings of AZEK. Empowered Funds LLC bought a new stake in AZEK during the fourth quarter worth about $27,000. FIL Ltd bought a new stake in shares of AZEK in the 4th quarter worth approximately $28,000. NBC Securities Inc. purchased a new stake in shares of AZEK in the 1st quarter worth approximately $29,000. Parallel Advisors LLC grew its stake in shares of AZEK by 261.4% in the 1st quarter. Parallel Advisors LLC now owns 683 shares of the company’s stock worth $33,000 after buying an additional 494 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. increased its position in AZEK by 623.2% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 687 shares of the company’s stock valued at $33,000 after buying an additional 592 shares in the last quarter. 97.44% of the stock is owned by hedge funds and other institutional investors.

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.