The AZEK Company Inc. (NYSE:AZEK) Receives $48.24 Average PT from Brokerages

The AZEK Company Inc. (NYSE:AZEK) has received an average recommendation of “Moderate Buy” from the seventeen ratings firms that are currently covering the stock, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a hold recommendation and twelve have issued a buy recommendation on the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $48.24.

Several equities research analysts recently issued reports on the stock. Benchmark reaffirmed a “buy” rating and set a $55.00 price target on shares of AZEK in a research note on Friday, August 9th. Royal Bank of Canada decreased their price objective on shares of AZEK from $49.00 to $46.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Truist Financial decreased their price objective on shares of AZEK from $57.00 to $52.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Loop Capital decreased their price objective on shares of AZEK from $58.00 to $52.00 and set a “buy” rating for the company in a report on Thursday, July 11th. Finally, BMO Capital Markets decreased their price objective on shares of AZEK from $50.00 to $46.00 and set a “market perform” rating for the company in a report on Friday, August 9th.

Insider Activity at AZEK

In other news, Director Pamela J. Edwards acquired 600 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The shares were purchased at an average cost of $41.70 per share, for a total transaction of $25,020.00. Following the transaction, the director now directly owns 8,708 shares in the company, valued at approximately $363,123.60. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Pamela J. Edwards acquired 600 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were bought at an average price of $41.70 per share, with a total value of $25,020.00. Following the purchase, the director now owns 8,708 shares of the company’s stock, valued at $363,123.60. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Jesse G. Singh sold 13,000 shares of the firm’s stock in a transaction dated Wednesday, July 10th. The shares were sold at an average price of $41.75, for a total value of $542,750.00. Following the transaction, the chief executive officer now directly owns 1,024,444 shares of the company’s stock, valued at approximately $42,770,537. The disclosure for this sale can be found here. Insiders have sold a total of 45,000 shares of company stock worth $1,932,790 in the last ninety days. 3.10% of the stock is owned by insiders.

Institutional Trading of AZEK

A number of large investors have recently added to or reduced their stakes in the business. Quadrant Capital Group LLC boosted its holdings in shares of AZEK by 45.9% in the fourth quarter. Quadrant Capital Group LLC now owns 728 shares of the company’s stock worth $28,000 after buying an additional 229 shares during the period. ORG Partners LLC purchased a new stake in shares of AZEK in the 1st quarter valued at approximately $35,000. Whittier Trust Co. acquired a new position in AZEK in the 1st quarter worth approximately $37,000. Principal Securities Inc. purchased a new position in AZEK during the 4th quarter worth approximately $44,000. Finally, Versant Capital Management Inc grew its position in AZEK by 5,452.2% during the 2nd quarter. Versant Capital Management Inc now owns 1,277 shares of the company’s stock worth $54,000 after purchasing an additional 1,254 shares in the last quarter. 97.44% of the stock is currently owned by institutional investors.

AZEK Stock Performance

Shares of AZEK stock opened at $41.81 on Monday. The company’s fifty day simple moving average is $42.20 and its 200-day simple moving average is $45.19. AZEK has a 52 week low of $25.03 and a 52 week high of $50.78. The company has a current ratio of 3.07, a quick ratio of 2.11 and a debt-to-equity ratio of 0.41. The company has a market cap of $6.08 billion, a PE ratio of 40.99, a P/E/G ratio of 1.27 and a beta of 1.87.

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

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.