AZEK (NYSE:AZEK) Sets New 52-Week High at $50.75

The AZEK Company Inc. (NYSE:AZEK)’s stock price hit a new 52-week high on Thursday . The company traded as high as $50.75 and last traded at $50.54, with a volume of 243867 shares traded. The stock had previously closed at $49.83.

Analyst Ratings Changes

A number of analysts have recently commented on the stock. TheStreet upgraded shares of AZEK from a “c+” rating to a “b-” rating in a research note on Wednesday, January 31st. Royal Bank of Canada increased their target price on AZEK from $43.00 to $49.00 and gave the company an “outperform” rating in a report on Wednesday, February 7th. Truist Financial raised their price objective on AZEK from $40.00 to $48.00 and gave the stock a “buy” rating in a research note on Wednesday, February 7th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $37.00 target price (down previously from $38.00) on shares of AZEK in a research report on Friday, December 8th. Finally, Stifel Nicolaus lifted their price target on shares of AZEK from $44.00 to $52.00 and gave the company a “buy” rating in a report on Wednesday, February 7th. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $39.72.

AZEK Stock Up 0.8 %

The business has a fifty day simple moving average of $44.96 and a two-hundred day simple moving average of $36.52. The company has a market cap of $7.42 billion, a PE ratio of 63.10, a price-to-earnings-growth ratio of 1.62 and a beta of 1.92. The company has a current ratio of 2.99, a quick ratio of 1.67 and a debt-to-equity ratio of 0.43.

AZEK (NYSE:AZEK) last announced 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. AZEK had a net margin of 8.57% and a return on equity of 9.61%. The company had revenue of $240.44 million during the quarter, compared to analysts’ expectations of $234.12 million. As a group, equities research analysts predict that The AZEK Company Inc. will post 1.02 earnings per share for the current year.

Insider Transactions at AZEK

In other AZEK news, 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 value of $589,420.00. Following the transaction, the chief executive officer now owns 1,184,444 shares of the company’s stock, valued at $53,702,690.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, CEO Jesse G. Singh sold 13,000 shares of the firm’s 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 in the company, valued at $53,702,690.96. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Michelle A. Kasson sold 94,431 shares of the stock in a transaction dated Thursday, March 7th. The stock was 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 disclosure for this sale can be found here. Insiders sold 130,431 shares of company stock worth $6,212,712 in the last 90 days. Insiders own 3.10% of the company’s stock.

Institutional Investors Weigh In On AZEK

A number of hedge funds and other institutional investors have recently modified their holdings of AZEK. Quadrant Capital Group LLC raised its holdings in shares of AZEK by 45.9% in the fourth quarter. Quadrant Capital Group LLC now owns 728 shares of the company’s stock valued at $28,000 after buying an additional 229 shares during the last quarter. Alliance Wealth Advisors LLC UT boosted its holdings in shares of AZEK by 4.1% in the third quarter. Alliance Wealth Advisors LLC UT now owns 13,044 shares of the company’s stock valued at $388,000 after acquiring an additional 515 shares in the last quarter. First Dallas Securities Inc. increased its stake in shares of AZEK by 5.8% during the third quarter. First Dallas Securities Inc. now owns 10,050 shares of the company’s stock worth $299,000 after acquiring an additional 550 shares during the period. Stifel Financial Corp boosted its holdings in AZEK by 5.2% in the 4th quarter. Stifel Financial Corp now owns 11,417 shares of the company’s stock valued at $437,000 after purchasing an additional 565 shares in the last quarter. Finally, Treasurer of the State of North Carolina raised its position in AZEK by 1.0% in the fourth quarter. Treasurer of the State of North Carolina now owns 58,496 shares of the company’s stock worth $2,237,000 after acquiring an additional 570 shares in the last quarter. 97.44% of the stock is currently owned by institutional investors and hedge funds.

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.