Research Analysts Issue Forecasts for The AZEK Company Inc.’s FY2024 Earnings (NYSE:AZEK)

The AZEK Company Inc. (NYSE:AZEK) – William Blair raised their FY2024 earnings per share (EPS) estimates for AZEK in a report issued on Tuesday, April 16th. William Blair analyst R. Merkel now expects that the company will post earnings of $1.06 per share for the year, up from their previous estimate of $0.99. The consensus estimate for AZEK’s current full-year earnings is $1.02 per share.

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

Several other research firms have also recently commented on AZEK. Royal Bank of Canada boosted their price target on AZEK from $43.00 to $49.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 7th. Stephens upped their price objective on AZEK from $40.00 to $50.00 and gave the company an “overweight” rating in a research note on Wednesday, February 7th. TheStreet upgraded AZEK from a “c+” rating to a “b-” rating in a research note on Wednesday, January 31st. Barclays upped their price objective on AZEK from $50.00 to $58.00 and gave the company an “overweight” rating in a research note on Thursday, April 4th. Finally, BMO Capital Markets increased their price target on AZEK from $39.00 to $46.00 and gave the stock an “outperform” rating in a research report on Thursday, February 8th. Four research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $44.11.

AZEK Trading Down 1.3 %

NYSE:AZEK opened at $44.71 on Friday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.67 and a current ratio of 2.99. AZEK has a one year low of $23.08 and a one year high of $50.78. The business’s 50-day simple moving average is $47.77 and its 200 day simple moving average is $38.54. The stock has a market cap of $6.60 billion, a price-to-earnings ratio of 56.59, a price-to-earnings-growth ratio of 1.49 and a beta of 1.92.

Institutional Investors Weigh In On AZEK

Large investors have recently modified their holdings of the stock. Morgan Stanley lifted its holdings in shares of AZEK by 272.4% in the fourth quarter. Morgan Stanley now owns 3,973,475 shares of the company’s stock valued at $80,741,000 after purchasing an additional 2,906,460 shares in the last quarter. Norges Bank purchased a new stake in shares of AZEK in the fourth quarter valued at $44,418,000. Westfield Capital Management Co. LP lifted its holdings in shares of AZEK by 5,090.1% in the third quarter. Westfield Capital Management Co. LP now owns 1,168,290 shares of the company’s stock valued at $34,745,000 after purchasing an additional 1,145,780 shares in the last quarter. BlackRock Inc. lifted its holdings in shares of AZEK by 15.6% in the second quarter. BlackRock Inc. now owns 6,899,713 shares of the company’s stock valued at $208,992,000 after purchasing an additional 929,341 shares in the last quarter. Finally, Vanguard Group Inc. lifted its holdings in shares of AZEK by 7.3% in the third quarter. Vanguard Group Inc. now owns 13,012,414 shares of the company’s stock valued at $386,989,000 after purchasing an additional 881,697 shares in the last quarter. 97.44% of the stock is owned by institutional investors.

Insider Buying and Selling

In other AZEK news, CEO Jesse G. Singh sold 13,000 shares of the stock in a transaction on Monday, February 12th. The stock was sold at an average price of $45.34, for a total transaction of $589,420.00. Following the completion of the transaction, the chief executive officer now directly owns 1,184,444 shares of the company’s stock, valued at approximately $53,702,690.96. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other AZEK news, CEO Jesse G. Singh sold 13,000 shares of the stock in a transaction on Monday, February 12th. The stock was sold at an average price of $45.34, for a total transaction of $589,420.00. Following the completion of the transaction, the chief executive officer now directly owns 1,184,444 shares of the company’s stock, valued at approximately $53,702,690.96. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Michelle A. Kasson sold 94,431 shares of the 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 transaction, the insider now directly owns 23,544 shares of the company’s stock, valued at $1,164,721.68. The disclosure for this sale can be found here. Insiders sold 130,431 shares of company stock valued at $6,356,622 in the last three months. 3.10% of the stock is currently owned by corporate insiders.

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.