Loop Capital Lowers AZEK (NYSE:AZEK) Price Target to $49.00

AZEK (NYSE:AZEK) had its price target cut by Loop Capital from $55.00 to $49.00 in a report issued on Thursday,Benzinga reports. They currently have a hold rating on the stock.

A number of other equities analysts have also commented on the company. Wolfe Research reissued a “peer perform” rating on shares of AZEK in a research note on Wednesday, March 26th. BMO Capital Markets increased their target price on AZEK from $54.00 to $57.00 and gave the company a “market perform” rating in a research report on Monday, March 24th. Baird R W cut shares of AZEK from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 24th. Raymond James set a $51.50 price objective on shares of AZEK in a research report on Tuesday, March 25th. Finally, Robert W. Baird restated a “neutral” rating and issued a $53.00 target price (down from $58.00) on shares of AZEK in a report on Monday, March 24th. Nine investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $53.53.

AZEK Trading Up 1.1 %

Shares of AZEK opened at $46.93 on Thursday. AZEK has a 1 year low of $35.48 and a 1 year high of $54.91. The company has a 50 day simple moving average of $46.09 and a two-hundred day simple moving average of $47.54. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.56 and a quick ratio of 1.19. The firm has a market cap of $6.74 billion, a P/E ratio of 47.41, a price-to-earnings-growth ratio of 1.91 and a beta of 1.86.

AZEK (NYSE:AZEK) last announced its quarterly earnings results on Tuesday, February 4th. The company reported $0.17 earnings per share (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%. On average, equities analysts expect that AZEK will post 1.34 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Jesse G. Singh sold 20,387 shares of the business’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $50.08, for a total transaction of $1,020,980.96. Following the completion of the sale, the chief executive officer now directly owns 883,765 shares of the company’s stock, valued at approximately $44,258,951.20. The trade was a 2.25 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 3.20% of the company’s stock.

Institutional Investors Weigh In On AZEK

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Empowered Funds LLC bought a new position in AZEK in the 4th quarter worth about $27,000. FIL Ltd bought a new position in AZEK in the fourth quarter worth approximately $28,000. NBC Securities Inc. purchased a new position in AZEK during the 1st quarter worth $29,000. Mitsubishi UFJ Asset Management Co. Ltd. raised 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 purchasing an additional 592 shares in the last quarter. Finally, Parallel Advisors LLC lifted its holdings 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 period. Institutional investors 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.