Loop Capital Cuts AZEK (NYSE:AZEK) Price Target to $49.00

AZEK (NYSE:AZEK) had its price target decreased by Loop Capital from $55.00 to $49.00 in a report published on Thursday,Benzinga reports. Loop Capital currently has a hold rating on the stock.

Other analysts also recently issued reports about the stock. Robert W. Baird reissued a “neutral” rating and issued a $53.00 price target (down from $58.00) on shares of AZEK in a research note on Monday, March 24th. Citigroup reaffirmed a “neutral” rating and set a $51.50 price objective (down from $61.00) on shares of AZEK in a research note on Tuesday, March 25th. Wolfe Research restated a “peer perform” rating on shares of AZEK in a report on Wednesday, March 26th. Raymond James set a $51.50 price objective on AZEK in a research report on Tuesday, March 25th. Finally, BMO Capital Markets lifted their price target on shares of AZEK from $54.00 to $57.00 and gave the company a “market perform” rating in a report on Monday, March 24th. Nine equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $53.53.

AZEK Trading Up 1.1 %

Shares of AZEK stock opened at $46.93 on Thursday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.19 and a current ratio of 2.56. The stock has a market capitalization of $6.74 billion, a P/E ratio of 47.41, a P/E/G ratio of 1.91 and a beta of 1.86. AZEK has a 52-week low of $35.48 and a 52-week high of $54.91. The stock’s 50-day simple moving average is $46.03 and its 200 day simple moving average is $47.55.

AZEK (NYSE:AZEK) last posted its earnings results on Tuesday, February 4th. The company reported $0.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.14 by $0.03. AZEK had a return on equity of 13.47% and a net margin of 9.85%. As a group, research analysts anticipate that AZEK will post 1.34 EPS for the current year.

Insider Activity

In related news, CEO Jesse G. Singh sold 20,387 shares of the firm’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $50.08, for a total value of $1,020,980.96. Following the transaction, the chief executive officer now owns 883,765 shares of the company’s stock, valued at $44,258,951.20. This trade represents a 2.25 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 3.20% of the company’s stock.

Institutional Trading of AZEK

Institutional investors and hedge funds have recently modified their holdings of the stock. FMR LLC lifted its stake in AZEK by 80.7% in the fourth quarter. FMR LLC now owns 12,311,577 shares of the company’s stock worth $584,431,000 after acquiring an additional 5,499,986 shares during the period. Norges Bank purchased a new stake in shares of AZEK in the 4th quarter worth approximately $94,987,000. Balyasny Asset Management L.P. boosted its stake in shares of AZEK by 493.6% during the fourth quarter. Balyasny Asset Management L.P. now owns 1,681,629 shares of the company’s stock valued at $79,827,000 after purchasing an additional 1,398,340 shares in the last quarter. Assenagon Asset Management S.A. lifted its holdings in AZEK by 1,280.9% during the first quarter. Assenagon Asset Management S.A. now owns 1,116,458 shares of the company’s stock worth $54,584,000 after buying an additional 1,035,610 shares during the period. Finally, Arrowstreet Capital Limited Partnership boosted its position in AZEK by 72.7% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,957,094 shares of the company’s stock valued at $92,903,000 after acquiring an additional 823,588 shares in the last quarter. Institutional investors own 97.44% of the company’s stock.

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.