AZEK (NYSE:AZEK) Stock Price Expected to Rise, BMO Capital Markets Analyst Says

AZEK (NYSE:AZEK) had its target price hoisted by equities research analysts at BMO Capital Markets from $54.00 to $57.00 in a note issued to investors on Monday,Benzinga reports. The firm presently has a “market perform” rating on the stock. BMO Capital Markets’ target price points to a potential upside of 37.73% from the stock’s current price.

Several other research analysts have also weighed in on AZEK. Barclays increased their target price on shares of AZEK from $58.00 to $64.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 11th. Robert W. Baird reaffirmed a “neutral” rating and set a $53.00 price objective (down previously from $58.00) on shares of AZEK in a research report on Monday. Citigroup upgraded AZEK from a “neutral” rating to a “buy” rating and upped their price target for the stock from $51.00 to $60.00 in a research note on Monday, January 6th. JPMorgan Chase & Co. lifted their price objective on AZEK from $48.00 to $58.00 and gave the company an “overweight” rating in a research note on Monday, November 25th. Finally, The Goldman Sachs Group increased their target price on AZEK from $52.00 to $59.00 and gave the stock a “buy” rating in a research note on Thursday, December 12th. Six investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $54.93.

AZEK Trading Down 0.8 %

AZEK opened at $41.39 on Monday. The stock has a market capitalization of $5.95 billion, a PE ratio of 41.80, a P/E/G ratio of 1.91 and a beta of 1.95. AZEK has a one year low of $35.48 and a one year high of $54.91. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.19 and a current ratio of 2.56. The business’s 50 day moving average price is $47.32 and its 200 day moving average price is $47.18.

AZEK (NYSE:AZEK) last announced its quarterly earnings results on Tuesday, February 4th. The company reported $0.17 EPS for the quarter, beating the consensus estimate of $0.14 by $0.03. AZEK had a return on equity of 13.47% and a net margin of 9.85%. As a group, equities research analysts expect that AZEK will post 1.34 EPS for the current year.

Insider Buying and Selling

In related news, CEO Jesse G. Singh sold 15,000 shares of the business’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $41.03, for a total transaction of $615,450.00. Following the completion of the transaction, the chief executive officer now owns 868,765 shares in the company, valued at approximately $35,645,427.95. The trade was a 1.70 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Over the last ninety days, insiders have sold 55,000 shares of company stock worth $2,518,624. Company insiders own 3.20% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in AZEK. Vanguard Group Inc. raised its position in shares of AZEK by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 14,430,833 shares of the company’s stock worth $685,032,000 after acquiring an additional 54,725 shares in the last quarter. Wellington Management Group LLP raised its holdings in AZEK by 33.8% during the third quarter. Wellington Management Group LLP now owns 14,224,410 shares of the company’s stock worth $665,702,000 after purchasing an additional 3,595,863 shares in the last quarter. FMR LLC lifted its position in shares of AZEK by 80.7% during the 4th quarter. FMR LLC now owns 12,311,577 shares of the company’s stock worth $584,431,000 after buying an additional 5,499,986 shares during the last quarter. Alliancebernstein L.P. boosted its holdings in shares of AZEK by 15.0% in the 4th quarter. Alliancebernstein L.P. now owns 3,294,619 shares of the company’s stock valued at $156,396,000 after buying an additional 429,574 shares in the last quarter. Finally, State Street Corp grew its position in shares of AZEK by 1.9% in the 3rd quarter. State Street Corp now owns 2,451,483 shares of the company’s stock valued at $114,729,000 after buying an additional 45,774 shares during 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.