Equities Analysts Issue Forecasts for The AZEK Company Inc.’s Q2 2024 Earnings (NYSE:AZEK)

The AZEK Company Inc. (NYSE:AZEK) – Research analysts at William Blair lifted their Q2 2024 EPS estimates for shares of AZEK in a report released on Tuesday, April 16th. William Blair analyst R. Merkel now expects that the company will post earnings of $0.34 per share for the quarter, up from their prior forecast of $0.31. The consensus estimate for AZEK’s current full-year earnings is $1.02 per share. William Blair also issued estimates for AZEK’s Q3 2024 earnings at $0.30 EPS, Q4 2024 earnings at $0.26 EPS and FY2025 earnings at $1.20 EPS.

AZEK (NYSE:AZEK) last released its earnings results on Tuesday, February 6th. The company reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.05. The company had revenue of $240.44 million during the quarter, compared to analyst estimates of $234.12 million. AZEK had a return on equity of 9.61% and a net margin of 8.57%.

A number of other analysts have also recently commented on AZEK. TheStreet upgraded shares of AZEK from a “c+” rating to a “b-” rating in a research note on Wednesday, January 31st. Stephens increased their price target on shares of AZEK from $40.00 to $50.00 and gave the stock an “overweight” rating in a report on Wednesday, February 7th. Barclays boosted their price objective on shares of AZEK from $50.00 to $58.00 and gave the company an “overweight” rating in a research note on Thursday, April 4th. B. Riley raised their price target on shares of AZEK from $40.00 to $50.00 and gave the company a “buy” rating in a report on Wednesday, February 7th. Finally, Royal Bank of Canada boosted their price target on shares of AZEK from $43.00 to $49.00 and gave the company an “outperform” rating in a research report on Wednesday, February 7th. Four research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $42.84.

AZEK Stock Performance

Shares of AZEK opened at $45.28 on Thursday. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.99 and a quick ratio of 1.67. The firm has a market cap of $6.69 billion, a PE ratio of 57.32, a PEG ratio of 1.51 and a beta of 1.92. AZEK has a 1 year low of $23.08 and a 1 year high of $50.78. The stock’s fifty day moving average price is $47.78 and its two-hundred day moving average price is $38.43.

Insiders Place Their Bets

In other AZEK news, insider Michelle A. Kasson sold 94,431 shares of the company’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $49.47, for a total value of $4,671,501.57. Following the completion of the transaction, the insider now directly owns 23,544 shares in the company, valued at approximately $1,164,721.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Michelle A. Kasson sold 94,431 shares of AZEK stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $49.47, for a total transaction of $4,671,501.57. Following the sale, the insider now directly owns 23,544 shares in the company, valued at $1,164,721.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jesse G. Singh sold 13,000 shares of the company’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $45.34, for a total value of $589,420.00. Following the completion of the sale, the chief executive officer now directly owns 1,184,444 shares in the company, valued at $53,702,690.96. The disclosure for this sale can be found here. In the last 90 days, insiders sold 130,431 shares of company stock worth $6,356,622. 3.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of AZEK. Vaughan Nelson Investment Management L.P. raised its stake in AZEK by 143.2% during the first quarter. Vaughan Nelson Investment Management L.P. now owns 633,727 shares of the company’s stock valued at $31,826,000 after buying an additional 373,156 shares during the last quarter. Congress Wealth Management LLC DE raised its position in shares of AZEK by 2.8% in the 1st quarter. Congress Wealth Management LLC DE now owns 80,390 shares of the company’s stock worth $4,037,000 after purchasing an additional 2,157 shares during the last quarter. Counterpoint Mutual Funds LLC bought a new position in AZEK in the 1st quarter worth about $288,000. Congress Asset Management Co. MA grew its position in AZEK by 26.3% during the 1st quarter. Congress Asset Management Co. MA now owns 237,326 shares of the company’s stock valued at $11,919,000 after purchasing an additional 49,460 shares during the last quarter. Finally, Park Avenue Securities LLC purchased a new position in AZEK in the first quarter worth about $227,000. 97.44% of the stock is currently owned by institutional investors.

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.