The AZEK Company Inc. (NYSE:AZEK) Receives $54.85 Average Price Target from Brokerages

The AZEK Company Inc. (NYSE:AZEK) has received an average rating of “Moderate Buy” from the thirteen analysts that are currently covering the firm, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold rating and nine have issued a buy rating on the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $54.85.

A number of analysts have commented on AZEK shares. Benchmark reaffirmed a “buy” rating and set a $55.00 price objective on shares of AZEK in a research note on Thursday, November 21st. Barclays upped their price objective on shares of AZEK from $58.00 to $64.00 and gave the company an “overweight” rating in a research note on Wednesday, December 11th. The Goldman Sachs Group upped their price objective on shares of AZEK from $52.00 to $59.00 and gave the company a “buy” rating in a research note on Thursday, December 12th. Citigroup raised shares of AZEK from a “neutral” rating to a “buy” rating and increased their price target for the stock from $51.00 to $60.00 in a research report on Monday, January 6th. Finally, BMO Capital Markets increased their price target on shares of AZEK from $52.00 to $54.00 and gave the stock a “market perform” rating in a research report on Thursday, February 6th.

AZEK Stock Performance

NYSE:AZEK opened at $43.25 on Monday. AZEK has a twelve month low of $35.48 and a twelve month high of $54.91. 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 company has a 50-day moving average of $48.65 and a 200-day moving average of $47.18. The firm has a market cap of $6.21 billion, a price-to-earnings ratio of 43.69, a price-to-earnings-growth ratio of 1.91 and a beta of 1.95.

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

Insider Activity at AZEK

In related news, CEO Jesse G. Singh sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $53.32, for a total transaction of $1,066,400.00. Following the transaction, the chief executive officer now owns 923,765 shares of the company’s stock, valued at approximately $49,255,149.80. This trade represents a 2.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CMO Samara Toole sold 1,709 shares of the stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $53.00, for a total value of $90,577.00. Following the transaction, the chief marketing officer now owns 16,632 shares in the company, valued at approximately $881,496. This trade represents a 9.32 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 61,709 shares of company stock valued at $3,060,151. 3.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On AZEK

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Public Employees Retirement System of Ohio grew its holdings in AZEK by 7.9% during the fourth quarter. Public Employees Retirement System of Ohio now owns 165,436 shares of the company’s stock valued at $7,853,000 after purchasing an additional 12,087 shares during the last quarter. Vident Advisory LLC acquired a new position in AZEK during the fourth quarter valued at approximately $217,000. Squarepoint Ops LLC acquired a new position in AZEK during the fourth quarter valued at approximately $1,397,000. Tabor Asset Management LP acquired a new stake in shares of AZEK in the fourth quarter worth $2,289,000. Finally, Tidal Investments LLC grew its stake in shares of AZEK by 4,255.1% in the fourth quarter. Tidal Investments LLC now owns 461,076 shares of the company’s stock worth $21,887,000 after acquiring an additional 450,489 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.