AZEK (NYSE:AZEK) Now Covered by Analysts at Benchmark

Analysts at Benchmark initiated coverage on shares of AZEK (NYSE:AZEK) in a report issued on Friday, MarketBeat.com reports. The firm set a “buy” rating and a $55.00 price target on the stock. Benchmark’s price objective indicates a potential upside of 22.99% from the company’s current price.

AZEK has been the subject of a number of other research reports. Royal Bank of Canada boosted their target price on shares of AZEK from $43.00 to $49.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 7th. Truist Financial boosted their target price on shares of AZEK from $40.00 to $48.00 and gave the stock a “buy” rating in a research note on Wednesday, February 7th. TheStreet raised shares of AZEK from a “c+” rating to a “b-” rating in a research note on Wednesday, January 31st. Stephens boosted their target price on shares of AZEK from $40.00 to $50.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 7th. Finally, Citigroup boosted their target price on shares of AZEK from $46.00 to $50.00 and gave the stock a “neutral” rating in a research note on Friday, April 5th. Four analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, AZEK has an average rating of “Moderate Buy” and an average price target of $44.11.

AZEK Stock Performance

Shares of AZEK stock opened at $44.72 on Friday. The stock has a market cap of $6.61 billion, a PE ratio of 56.61, a price-to-earnings-growth ratio of 1.46 and a beta of 1.92. The business has a 50-day simple moving average of $47.77 and a 200-day simple moving average of $38.61. The company has a quick ratio of 1.67, a current ratio of 2.99 and a debt-to-equity ratio of 0.43. AZEK has a 52-week low of $23.08 and a 52-week high of $50.78.

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

Insider Activity

In other news, insider Michelle A. Kasson sold 94,431 shares of the company’s stock in a transaction that occurred 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 in the company, valued at approximately $1,164,721.68. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, insider Michelle A. Kasson sold 94,431 shares of the company’s stock in a transaction that occurred 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 in the company, valued at approximately $1,164,721.68. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Jonathan Skelly sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $46.78, for a total transaction of $467,800.00. Following the completion of the transaction, the insider now owns 180,784 shares in the company, valued at $8,457,075.52. The disclosure for this sale can be found here. Insiders sold a total of 130,431 shares of company stock valued at $6,356,622 in the last 90 days. Company insiders own 3.10% of the company’s stock.

Hedge Funds Weigh In On AZEK

Several large investors have recently made changes to their positions in the stock. Morgan Stanley lifted its holdings in AZEK by 272.4% during the 4th quarter. Morgan Stanley now owns 3,973,475 shares of the company’s stock worth $80,741,000 after buying an additional 2,906,460 shares in the last quarter. Norges Bank acquired a new stake in AZEK during the 4th quarter worth approximately $44,418,000. Westfield Capital Management Co. LP lifted its holdings in AZEK by 5,090.1% during the 3rd quarter. Westfield Capital Management Co. LP now owns 1,168,290 shares of the company’s stock worth $34,745,000 after buying an additional 1,145,780 shares in the last quarter. BlackRock Inc. lifted its holdings in AZEK by 15.6% during the 2nd quarter. BlackRock Inc. now owns 6,899,713 shares of the company’s stock worth $208,992,000 after buying an additional 929,341 shares in the last quarter. Finally, Vanguard Group Inc. lifted its holdings in AZEK by 7.3% during the 3rd quarter. Vanguard Group Inc. now owns 13,012,414 shares of the company’s stock worth $386,989,000 after buying an additional 881,697 shares in the last quarter. 97.44% of the stock is currently owned by institutional investors and hedge funds.

About AZEK

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.