AZEK (NYSE:AZEK) PT Lowered to $34.00

AZEK (NYSE:AZEKGet Rating) had its target price reduced by equities research analysts at Truist Financial from $45.00 to $34.00 in a note issued to investors on Wednesday, The Fly reports. Truist Financial’s price target suggests a potential upside of 96.19% from the stock’s current price.

Other analysts have also issued reports about the company. Credit Suisse Group started coverage on AZEK in a research note on Tuesday, April 5th. They issued an “outperform” rating and a $29.00 target price for the company. Zacks Investment Research upgraded AZEK from a “sell” rating to a “hold” rating in a report on Monday, May 2nd. UBS Group initiated coverage on AZEK in a report on Wednesday, January 19th. They issued a “buy” rating and a $52.00 price target on the stock. Loop Capital cut AZEK from a “buy” rating to a “hold” rating and decreased their price target for the company from $56.00 to $25.00 in a report on Monday, April 25th. Finally, B. Riley decreased their price target on AZEK from $47.00 to $35.00 and set a “buy” rating on the stock in a report on Wednesday, April 6th. Three research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $34.60.

Shares of NYSE:AZEK opened at $17.33 on Wednesday. AZEK has a twelve month low of $17.00 and a twelve month high of $48.12. The firm has a market capitalization of $2.69 billion, a price-to-earnings ratio of 27.08, a PEG ratio of 1.08 and a beta of 1.71. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.91 and a current ratio of 2.69. The firm has a fifty day simple moving average of $24.01.

AZEK (NYSE:AZEKGet Rating) last announced its earnings results on Tuesday, May 10th. The company reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.30 by $0.03. AZEK had a return on equity of 10.30% and a net margin of 8.13%. The company had revenue of $396.26 million during the quarter, compared to analyst estimates of $368.06 million. During the same period last year, the company posted $0.22 earnings per share. The firm’s quarterly revenue was up 35.2% compared to the same quarter last year. On average, analysts predict that AZEK will post 1.13 EPS for the current fiscal year.

In other news, Director Vernon J. Nagel bought 4,000 shares of the company’s stock in a transaction that occurred on Monday, March 7th. The shares were acquired at an average price of $25.14 per share, with a total value of $100,560.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Sandra Lamartine bought 965 shares of the company’s stock in a transaction that occurred on Wednesday, March 9th. The stock was purchased at an average cost of $26.01 per share, for a total transaction of $25,099.65. The disclosure for this purchase can be found here. 3.60% of the stock is currently owned by company insiders.

Large investors have recently bought and sold shares of the business. Koshinski Asset Management Inc. acquired a new position in shares of AZEK during the 1st quarter worth approximately $25,000. CWM LLC acquired a new position in shares of AZEK during the 4th quarter worth approximately $27,000. Washington Trust Advisors Inc. increased its position in shares of AZEK by 717.9% during the 1st quarter. Washington Trust Advisors Inc. now owns 1,096 shares of the company’s stock worth $27,000 after purchasing an additional 962 shares during the last quarter. Schroder Investment Management Group acquired a new position in shares of AZEK during the 4th quarter worth approximately $35,000. Finally, National Bank of Canada FI acquired a new position in shares of AZEK during the 4th quarter worth approximately $37,000. 96.53% of the stock is currently owned by hedge funds and other institutional investors.

About AZEK (Get Rating)

The AZEK Company Inc engages in designing, manufacturing, and selling building products for residential, commercial, and industrial markets in the United States. It operates through two segments: Residential and Commercial. The Residential segment designs and manufactures engineered outdoor living products, which includes decking, railing, trim and moulding, and accessories under the TimberTech, AZEK Exteriors, VERSATEX, and ULTRALOX brand name.

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