The AZEK Company Inc. (NYSE:AZEK) Receives Consensus Recommendation of “Buy” from Analysts

Shares of The AZEK Company Inc. (NYSE:AZEK – Get Rating) have earned an average recommendation of “Buy” from the eighteen ratings firms that are currently covering the firm, MarketBeat.com reports. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $34.29.

A number of equities research analysts have weighed in on the stock. Zacks Investment Research upgraded shares of AZEK from a “sell” rating to a “hold” rating in a research note on Monday, May 16th. Bank of America assumed coverage on shares of AZEK in a research note on Monday, April 25th. They set a “neutral” rating and a $26.00 price target on the stock. Loop Capital downgraded shares of AZEK from a “buy” rating to a “hold” rating and decreased their price target for the stock from $56.00 to $25.00 in a research note on Monday, April 25th. Robert W. Baird reduced their target price on shares of AZEK from $32.00 to $30.00 in a research note on Wednesday, May 11th. Finally, Credit Suisse Group initiated coverage on shares of AZEK in a research note on Tuesday, April 5th. They issued an “outperform” rating and a $29.00 target price on the stock.

In other news, insider Sandra Lamartine acquired 965 shares of the company’s stock in a transaction on Wednesday, March 9th. The stock was purchased at an average cost of $26.01 per share, with a total value of $25,099.65. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 3.60% of the company’s stock.

Several hedge funds have recently made changes to their positions in the company. BlackRock Inc. increased its stake in shares of AZEK by 2.4% in the 4th quarter. BlackRock Inc. now owns 12,813,168 shares of the company’s stock valued at $592,479,000 after acquiring an additional 300,895 shares during the last quarter. Vanguard Group Inc. grew its position in shares of AZEK by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 9,864,331 shares of the company’s stock valued at $245,031,000 after purchasing an additional 98,704 shares during the period. Massachusetts Financial Services Co. MA grew its position in shares of AZEK by 14.8% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 7,930,112 shares of the company’s stock valued at $196,985,000 after purchasing an additional 1,023,425 shares during the period. Allspring Global Investments Holdings LLC acquired a new position in shares of AZEK in the 4th quarter valued at approximately $170,251,000. Finally, Brown Advisory Inc. grew its position in shares of AZEK by 13.0% in the 4th quarter. Brown Advisory Inc. now owns 3,300,398 shares of the company’s stock valued at $152,611,000 after purchasing an additional 379,041 shares during the period. 96.53% of the stock is owned by institutional investors.

Shares of AZEK stock opened at $22.66 on Tuesday. AZEK has a 1 year low of $16.34 and a 1 year high of $46.56. The firm’s fifty day simple moving average is $21.63 and its 200 day simple moving average is $30.43. The firm has a market capitalization of $3.51 billion, a P/E ratio of 31.04, a price-to-earnings-growth ratio of 1.37 and a beta of 1.71. The company has a current ratio of 3.00, a quick ratio of 1.28 and a debt-to-equity ratio of 0.34.

AZEK (NYSE:AZEK – Get Rating) last announced its earnings results on Tuesday, May 10th. The company reported $0.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.30 by $0.03. AZEK had a net margin of 8.49% and a return on equity of 11.08%. The business had revenue of $396.26 million for the quarter, compared to analyst estimates of $368.06 million. During the same quarter in the previous year, the firm posted $0.22 earnings per share. AZEK’s revenue was up 35.2% compared to the same quarter last year. Equities research analysts anticipate that AZEK will post 1.02 EPS for the current fiscal year.

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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