AZEK’s (AZEK) “Peer Perform” Rating Reiterated at Wolfe Research

Wolfe Research reissued their peer perform rating on shares of AZEK (NYSE:AZEK) in a research report released on Wednesday, MarketBeat reports.

A number of other analysts have also issued reports on the stock. Robert W. Baird reiterated a “neutral” rating and set a $53.00 price target (down from $58.00) on shares of AZEK in a research note on Monday, March 24th. Barclays increased their target price on shares of AZEK from $58.00 to $64.00 and gave the stock an “overweight” rating in a report on Wednesday, December 11th. Baird R W lowered AZEK from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 24th. Stephens reiterated an “equal weight” rating and issued a $58.00 target price on shares of AZEK in a report on Monday, March 24th. Finally, Royal Bank of Canada upped their price target on AZEK from $50.00 to $58.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. Nine research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $54.32.

AZEK Price Performance

Shares of AZEK opened at $49.65 on Wednesday. The firm has a 50-day simple moving average of $47.40 and a two-hundred day simple moving average of $47.37. The stock has a market cap of $7.13 billion, a PE ratio of 50.15, a P/E/G ratio of 1.91 and a beta of 1.95. AZEK has a 1-year low of $35.48 and a 1-year high of $54.91. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.56 and a quick ratio of 1.19.

AZEK (NYSE:AZEK) last announced its 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 return on equity of 13.47% and a net margin of 9.85%. As a group, analysts forecast that AZEK will post 1.34 EPS for the current year.

Insider Activity at AZEK

In other AZEK news, CEO Jesse G. Singh sold 15,000 shares of the stock in a transaction on Monday, March 10th. The stock was sold at an average price of $41.03, for a total value 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. This represents a 1.70 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders sold a total of 55,000 shares of company stock worth $2,518,624 over the last 90 days. Company insiders own 3.20% of the company’s stock.

Hedge Funds Weigh In On AZEK

A number of institutional investors and hedge funds have recently made changes to their positions in AZEK. Empowered Funds LLC acquired a new position in AZEK during the fourth quarter worth $27,000. FIL Ltd purchased a new position in shares of AZEK in the fourth quarter valued at $28,000. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in shares of AZEK by 623.2% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 687 shares of the company’s stock worth $33,000 after buying an additional 592 shares during the last quarter. Avalon Trust Co purchased a new stake in shares of AZEK in the 4th quarter worth about $38,000. Finally, GAMMA Investing LLC grew its stake in AZEK by 39.1% in the 4th quarter. GAMMA Investing LLC now owns 851 shares of the company’s stock valued at $40,000 after acquiring an additional 239 shares during the last quarter. 97.44% of the stock is owned by institutional investors and hedge funds.

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.