AZEK (NYSE:AZEK) Price Target Cut to $52.00

AZEK (NYSE:AZEK) had its price objective decreased by analysts at Barclays from $58.00 to $52.00 in a research report issued on Friday, Benzinga reports. The firm currently has an “overweight” rating on the stock. Barclays‘s price target suggests a potential upside of 19.10% from the company’s previous close.

Other equities analysts also recently issued research reports about the company. DA Davidson downgraded AZEK from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $57.00 to $44.00 in a research report on Wednesday, July 3rd. Robert W. Baird cut their price objective on AZEK from $60.00 to $58.00 and set an “outperform” rating for the company in a report on Thursday, May 9th. Truist Financial reissued a “buy” rating and issued a $57.00 price objective on shares of AZEK in a report on Tuesday, June 18th. Citigroup cut their price objective on AZEK from $50.00 to $44.00 and set a “neutral” rating for the company in a report on Thursday. Finally, Loop Capital dropped their price target on AZEK from $58.00 to $52.00 and set a “buy” rating on the stock in a research note on Thursday. Five investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $46.50.

AZEK Price Performance

NYSE AZEK opened at $43.66 on Friday. The business has a 50 day simple moving average of $45.03 and a 200 day simple moving average of $44.55. AZEK has a 52-week low of $25.03 and a 52-week high of $50.78. The company has a debt-to-equity ratio of 0.42, a quick ratio of 2.21 and a current ratio of 3.40. The stock has a market cap of $6.35 billion, a price-to-earnings ratio of 42.80, a PEG ratio of 1.36 and a beta of 1.88.

AZEK (NYSE:AZEK) last posted its earnings results on Friday, June 14th. The company reported $0.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.36 by $0.03. AZEK had a return on equity of 12.02% and a net margin of 10.66%. The business had revenue of $418.41 million during the quarter, compared to analysts’ expectations of $416.79 million. Analysts anticipate that AZEK will post 1.06 earnings per share for the current fiscal year.

Insider Activity at AZEK

In related news, CEO Jesse G. Singh sold 13,000 shares of the firm’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $45.97, for a total value of $597,610.00. Following the sale, the chief executive officer now directly owns 1,070,444 shares of the company’s stock, valued at $49,208,310.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Jonathan Skelly sold 12,000 shares of AZEK stock in a transaction dated Tuesday, June 18th. The stock was sold at an average price of $46.72, for a total transaction of $560,640.00. Following the sale, the insider now directly owns 190,134 shares of the company’s stock, valued at $8,883,060.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jesse G. Singh sold 13,000 shares of AZEK stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $45.97, for a total value of $597,610.00. Following the sale, the chief executive officer now directly owns 1,070,444 shares in the company, valued at $49,208,310.68. The disclosure for this sale can be found here. Insiders have sold 38,000 shares of company stock valued at $1,701,000 over the last ninety days. 3.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On AZEK

A number of hedge funds and other institutional investors have recently made changes to their positions in AZEK. Graham Capital Management L.P. lifted its stake in shares of AZEK by 283.5% in the third quarter. Graham Capital Management L.P. now owns 27,141 shares of the company’s stock worth $807,000 after acquiring an additional 20,064 shares during the period. American Century Companies Inc. increased its holdings in AZEK by 1.8% in the third quarter. American Century Companies Inc. now owns 1,976,725 shares of the company’s stock worth $58,788,000 after purchasing an additional 35,542 shares in the last quarter. Vanguard Group Inc. increased its holdings in AZEK by 7.3% in the third quarter. Vanguard Group Inc. now owns 13,012,414 shares of the company’s stock worth $386,989,000 after purchasing an additional 881,697 shares in the last quarter. Symmetry Partners LLC bought a new stake in AZEK in the fourth quarter worth approximately $640,000. Finally, Green Alpha Advisors LLC increased its holdings in AZEK by 84.1% in the fourth quarter. Green Alpha Advisors LLC now owns 16,924 shares of the company’s stock worth $647,000 after purchasing an additional 7,729 shares in the last quarter. 97.44% of the stock is owned by institutional investors and hedge funds.

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.