The AZEK Company Inc. (NYSE:AZEK) Receives Average Rating of “Moderate Buy” from Analysts

Shares of The AZEK Company Inc. (NYSE:AZEK) have earned a consensus recommendation of “Moderate Buy” from the seventeen ratings firms that are presently covering the stock, Marketbeat.com reports. Four investment analysts have rated the stock with a hold recommendation and thirteen have given a buy recommendation to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $44.94.

Several brokerages recently issued reports on AZEK. Truist Financial boosted their price target on AZEK from $40.00 to $48.00 and gave the company a “buy” rating in a research report on Wednesday, February 7th. Royal Bank of Canada lifted their target price on shares of AZEK from $43.00 to $49.00 and gave the company an “outperform” rating in a report on Wednesday, February 7th. 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. Benchmark initiated coverage on AZEK in a report on Friday, April 19th. They issued a “buy” rating and a $55.00 price objective on the stock. Finally, Citigroup increased their target price on AZEK from $46.00 to $50.00 and gave the stock a “neutral” rating in a research note on Friday, April 5th.

AZEK Trading Up 1.4 %

Shares of AZEK stock opened at $47.17 on Tuesday. The company has a fifty day simple moving average of $47.87 and a 200-day simple moving average of $39.95. AZEK has a 12-month low of $23.08 and a 12-month high of $50.78. The company has a current ratio of 2.99, a quick ratio of 1.67 and a debt-to-equity ratio of 0.43. The stock has a market cap of $6.97 billion, a price-to-earnings ratio of 59.71, a PEG ratio of 1.50 and a beta of 1.93.

AZEK (NYSE:AZEK) last issued 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. AZEK had a net margin of 8.57% and a return on equity of 9.61%. The business had revenue of $240.44 million during the quarter, compared to analysts’ expectations of $234.12 million. On average, equities analysts forecast that AZEK will post 1.03 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Michelle A. Kasson sold 94,431 shares of the business’s stock in a transaction dated 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 sale, the insider now directly owns 23,544 shares in the company, valued at approximately $1,164,721.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other AZEK news, insider Michelle A. Kasson sold 94,431 shares of the company’s stock in a transaction dated 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 in the company, valued at approximately $1,164,721.68. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Jesse G. Singh sold 13,000 shares of the company’s stock in a transaction dated Monday, February 12th. The shares were 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 owns 1,184,444 shares in the company, valued at $53,702,690.96. The disclosure for this sale can be found here. Insiders have sold 130,431 shares of company stock worth $6,356,622 in the last three months. Corporate insiders own 3.10% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AZEK. SG Americas Securities LLC lifted its holdings in AZEK by 7.7% in the 3rd quarter. SG Americas Securities LLC now owns 17,236 shares of the company’s stock valued at $513,000 after purchasing an additional 1,236 shares in the last quarter. Maryland State Retirement & Pension System lifted its holdings in shares of AZEK by 24.7% during the 3rd quarter. Maryland State Retirement & Pension System now owns 10,148 shares of the company’s stock worth $302,000 after acquiring an additional 2,010 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of AZEK by 27.1% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 27,098 shares of the company’s stock worth $806,000 after acquiring an additional 5,776 shares during the period. BluePath Capital Management LLC purchased a new position in shares of AZEK during the 3rd quarter worth about $31,000. Finally, Congress Wealth Management LLC DE lifted its holdings in shares of AZEK by 27.4% during the 3rd quarter. Congress Wealth Management LLC DE now owns 75,407 shares of the company’s stock worth $2,243,000 after acquiring an additional 16,229 shares during the period. 97.44% of the stock is currently owned by hedge funds and other 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.