Robert W. Baird Increases AZEK (NYSE:AZEK) Price Target to $58.00

AZEK (NYSE:AZEK) had its price objective lifted by Robert W. Baird from $54.00 to $58.00 in a research report report published on Wednesday morning,Benzinga reports. Robert W. Baird currently has an outperform rating on the stock.

AZEK has been the subject of several other reports. Citigroup upgraded AZEK from a “neutral” rating to a “buy” rating and increased their price target for the company from $51.00 to $60.00 in a report on Monday, January 6th. Royal Bank of Canada increased their price target on AZEK from $50.00 to $58.00 and gave the company an “outperform” rating in a report on Friday, December 13th. Barclays increased their price target on AZEK from $58.00 to $64.00 and gave the company an “overweight” rating in a report on Wednesday, December 11th. Truist Financial increased their price target on AZEK from $52.00 to $57.00 and gave the company a “buy” rating in a report on Wednesday, November 20th. Finally, BMO Capital Markets raised their target price on AZEK from $49.00 to $51.00 and gave the company a “market perform” rating in a research note on Wednesday, November 20th. Four analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $54.85.

AZEK Trading Down 1.8 %

Shares of AZEK opened at $50.11 on Wednesday. The company has a current ratio of 2.17, a quick ratio of 1.14 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $7.17 billion, a P/E ratio of 48.18, a price-to-earnings-growth ratio of 2.23 and a beta of 1.94. The stock’s fifty day simple moving average is $50.23 and its 200 day simple moving average is $46.40. AZEK has a twelve month low of $35.48 and a twelve month high of $54.91.

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 the consensus estimate of $0.14 by $0.03. AZEK had a return on equity of 12.68% and a net margin of 10.68%. On average, equities research analysts forecast that AZEK will post 1.28 earnings per share for the current year.

Insider Transactions at AZEK

In other AZEK news, CEO Jesse G. Singh sold 20,000 shares of the firm’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $53.32, for a total value of $1,066,400.00. Following the transaction, the chief executive officer now owns 923,765 shares of the company’s stock, valued at $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 SEC, which is available at this link. Also, CMO Samara Toole sold 1,709 shares of the firm’s stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $53.00, for a total transaction of $90,577.00. Following the completion of the transaction, the chief marketing officer now directly owns 16,632 shares in the company, valued at $881,496. This represents a 9.32 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 41,322 shares of company stock valued at $2,039,170. Insiders own 3.20% of the company’s stock.

Institutional Investors Weigh In On AZEK

A number of hedge funds have recently made changes to their positions in the business. Empowered Funds LLC acquired a new position in shares of AZEK during the fourth quarter valued at approximately $27,000. ORG Wealth Partners LLC purchased a new position in AZEK during the 3rd quarter worth approximately $31,000. Farther Finance Advisors LLC grew its position in AZEK by 183.1% during the 3rd quarter. Farther Finance Advisors LLC now owns 753 shares of the company’s stock worth $35,000 after purchasing an additional 487 shares in the last quarter. Paladin Wealth LLC purchased a new position in AZEK during the 3rd quarter worth approximately $39,000. Finally, GAMMA Investing LLC grew its position in AZEK by 39.1% during the 4th quarter. GAMMA Investing LLC now owns 851 shares of the company’s stock worth $40,000 after purchasing an additional 239 shares in the last quarter. 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.