BMO Capital Markets Raises AZEK (NYSE:AZEK) Price Target to $49.00

AZEK (NYSE:AZEK) had its target price hoisted by equities researchers at BMO Capital Markets from $46.00 to $49.00 in a research report issued on Tuesday, Benzinga reports. The firm currently has a “market perform” rating on the stock. BMO Capital Markets’ price objective would suggest a potential upside of 15.48% from the company’s previous close.

Several other research firms also recently weighed in on AZEK. JPMorgan Chase & Co. dropped their target price on shares of AZEK from $52.00 to $48.00 and set an “overweight” rating for the company in a research report on Tuesday, August 13th. DA Davidson lowered AZEK from a “buy” rating to a “neutral” rating and lowered their target price for the company from $57.00 to $44.00 in a report on Wednesday, July 3rd. Benchmark restated a “buy” rating and set a $55.00 price objective on shares of AZEK in a research note on Friday, August 9th. UBS Group dropped their price objective on shares of AZEK from $47.00 to $43.00 and set a “neutral” rating on the stock in a report on Thursday, August 8th. Finally, Barclays decreased their price objective on AZEK from $58.00 to $52.00 and set an “overweight” rating for the company in a report on Friday, July 12th. Six equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $48.12.

AZEK Stock Down 1.8 %

AZEK stock traded down $0.77 during midday trading on Tuesday, hitting $42.43. 388,049 shares of the stock were exchanged, compared to its average volume of 1,730,144. AZEK has a 1 year low of $25.03 and a 1 year high of $50.78. The company has a debt-to-equity ratio of 0.41, a current ratio of 3.07 and a quick ratio of 2.11. The firm has a market cap of $6.17 billion, a P/E ratio of 41.58, a P/E/G ratio of 1.10 and a beta of 1.88. The company has a 50 day moving average price of $43.57 and a two-hundred day moving average price of $44.42.

AZEK (NYSE:AZEK) last announced its earnings results on Wednesday, August 7th. The company reported $0.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.36 by $0.06. AZEK had a return on equity of 13.38% and a net margin of 11.35%. The business had revenue of $434.40 million for the quarter, compared to analyst estimates of $396.89 million. During the same period in the previous year, the company earned $0.29 earnings per share. The company’s revenue for the quarter was up 12.1% compared to the same quarter last year. On average, sell-side analysts predict that AZEK will post 1.05 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Pamela J. Edwards bought 600 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were acquired at an average cost of $41.70 per share, for a total transaction of $25,020.00. Following the acquisition, the director now directly owns 8,708 shares of the company’s stock, valued at $363,123.60. The trade was a 0.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, CEO Jesse G. Singh sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $41.47, for a total value of $829,400.00. Following the completion of the transaction, the chief executive officer now owns 186,705 shares of the company’s stock, valued at approximately $7,742,656.35. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Pamela J. Edwards bought 600 shares of the firm’s stock in a transaction dated Thursday, August 15th. The stock was acquired at an average cost of $41.70 per share, with a total value of $25,020.00. Following the transaction, the director now owns 8,708 shares of the company’s stock, valued at $363,123.60. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 3.10% of the company’s stock.

Hedge Funds Weigh In On AZEK

A number of large investors have recently made changes to their positions in AZEK. Vanguard Group Inc. lifted its stake in AZEK by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 13,069,026 shares of the company’s stock valued at $499,890,000 after acquiring an additional 56,612 shares during the last quarter. Quadrature Capital Ltd bought a new position in AZEK during the fourth quarter valued at about $406,000. Park Avenue Securities LLC acquired a new stake in shares of AZEK in the first quarter worth about $227,000. Counterpoint Mutual Funds LLC bought a new stake in shares of AZEK during the 1st quarter worth about $288,000. Finally, Congress Wealth Management LLC DE increased its holdings in shares of AZEK by 2.8% during the 1st quarter. Congress Wealth Management LLC DE now owns 80,390 shares of the company’s stock valued at $4,037,000 after acquiring an additional 2,157 shares during the last quarter. Institutional investors and hedge funds 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.