AZEK (NYSE:AZEK) PT Lowered to $29.00 at B. Riley

AZEK (NYSE:AZEKGet Rating) had its price objective reduced by research analysts at B. Riley from $35.00 to $29.00 in a research report issued on Thursday, The Fly reports. B. Riley’s price target would suggest a potential upside of 75.65% from the stock’s previous close.

Other equities analysts have also recently issued reports about the company. Zelman & Associates raised AZEK from a “hold” rating to a “buy” rating in a report on Wednesday. BMO Capital Markets decreased their price target on shares of AZEK from $48.00 to $33.00 in a research note on Wednesday. DA Davidson raised shares of AZEK from a “neutral” rating to a “buy” rating in a research note on Tuesday, February 1st. Stephens upgraded shares of AZEK from an “equal weight” rating to an “overweight” rating and decreased their target price for the stock from $47.00 to $41.00 in a research report on Monday, January 31st. Finally, TheStreet lowered shares of AZEK from a “c” rating to a “d+” rating in a research report on Thursday, February 3rd. Three equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, AZEK has an average rating of “Buy” and a consensus price target of $34.20.

AZEK stock opened at $16.51 on Thursday. The company’s 50 day moving average is $23.79 and its 200 day moving average is $32.85. The stock has a market cap of $2.56 billion, a price-to-earnings ratio of 25.80, a price-to-earnings-growth ratio of 1.08 and a beta of 1.71. The company has a current ratio of 2.69, a quick ratio of 0.91 and a debt-to-equity ratio of 0.32. AZEK has a 1-year low of $16.49 and a 1-year high of $47.69.

AZEK (NYSE:AZEKGet Rating) last issued its quarterly earnings results on Tuesday, May 10th. The company reported $0.33 EPS for the quarter, topping analysts’ consensus estimates of $0.30 by $0.03. AZEK had a net margin of 8.13% and a return on equity of 10.30%. The firm had revenue of $396.26 million for the quarter, compared to analyst estimates of $368.06 million. During the same quarter in the prior year, the firm earned $0.22 EPS. The business’s revenue for the quarter was up 35.2% compared to the same quarter last year. As a group, sell-side analysts forecast that AZEK will post 1.13 EPS for the current fiscal year.

In related news, Director Vernon J. Nagel acquired 4,000 shares of the firm’s stock in a transaction on Monday, March 7th. The stock was acquired at an average cost of $25.14 per share, for a total transaction of $100,560.00. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, insider Sandra Lamartine purchased 965 shares of AZEK stock in a transaction that occurred on Wednesday, March 9th. The shares were bought at an average price 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 owned by company insiders.

Several hedge funds have recently bought and sold shares of AZEK. National Bank of Canada FI bought a new stake in shares of AZEK during the fourth quarter valued at approximately $37,000. Macquarie Group Ltd. boosted its holdings in shares of AZEK by 26.7% during the 3rd quarter. Macquarie Group Ltd. now owns 273,142 shares of the company’s stock valued at $9,977,000 after buying an additional 57,481 shares in the last quarter. Lord Abbett & CO. LLC boosted its holdings in shares of AZEK by 12.1% during the 3rd quarter. Lord Abbett & CO. LLC now owns 1,798,091 shares of the company’s stock valued at $65,684,000 after buying an additional 193,417 shares in the last quarter. Alliancebernstein L.P. increased its stake in shares of AZEK by 20.9% in the 3rd quarter. Alliancebernstein L.P. now owns 2,752,224 shares of the company’s stock worth $100,539,000 after acquiring an additional 475,077 shares in the last quarter. Finally, Retirement Systems of Alabama bought a new position in shares of AZEK in the 4th quarter worth about $6,369,000. Hedge funds and other institutional investors own 96.53% of the company’s stock.

AZEK Company Profile (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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