The AZEK Company Inc. (NYSE:AZEK) Given Consensus Rating of “Moderate Buy” by Brokerages

The AZEK Company Inc. (NYSE:AZEK) has earned a consensus recommendation of “Moderate Buy” from the seventeen analysts that are covering the company, MarketBeat reports. Five equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating on the company. The average 1-year price objective among brokers that have covered the stock in the last year is $48.24.

A number of research firms have recently commented on AZEK. Truist Financial cut their price objective on AZEK from $57.00 to $52.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Loop Capital cut their price objective on AZEK from $58.00 to $52.00 and set a “buy” rating for the company in a research report on Thursday, July 11th. Benchmark restated a “buy” rating and issued a $55.00 price objective on shares of AZEK in a research report on Friday, August 9th. UBS Group cut their price objective on AZEK from $47.00 to $43.00 and set a “neutral” rating for the company in a research report on Thursday, August 8th. Finally, Stifel Nicolaus dropped their price target on AZEK from $52.00 to $50.00 and set a “buy” rating for the company in a research report on Thursday, August 8th.

Insider Activity

In other news, CEO Jesse G. Singh sold 13,000 shares of the company’s stock in a transaction on Wednesday, July 10th. The stock was sold at an average price of $41.75, for a total value of $542,750.00. Following the transaction, the chief executive officer now owns 1,024,444 shares of the company’s stock, valued at approximately $42,770,537. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CEO Jesse G. Singh sold 13,000 shares of the stock in a transaction dated Wednesday, July 10th. The stock was sold at an average price of $41.75, for a total transaction of $542,750.00. Following the transaction, the chief executive officer now owns 1,024,444 shares of the company’s stock, valued at approximately $42,770,537. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Jesse G. Singh sold 20,000 shares of the stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $41.47, for a total value of $829,400.00. Following the transaction, the chief executive officer now directly owns 186,705 shares in the company, valued at approximately $7,742,656.35. The disclosure for this sale can be found here. Corporate insiders own 3.10% of the company’s stock.

Hedge Funds Weigh In On AZEK

Hedge funds have recently bought and sold shares of the company. Mercer Global Advisors Inc. ADV purchased a new stake in AZEK during the 2nd quarter worth about $86,719,000. Price T Rowe Associates Inc. MD increased its holdings in AZEK by 66.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,466,145 shares of the company’s stock worth $73,631,000 after purchasing an additional 587,107 shares during the period. Lord Abbett & CO. LLC purchased a new stake in AZEK during the 1st quarter worth about $26,360,000. Interval Partners LP increased its holdings in AZEK by 162.4% during the 2nd quarter. Interval Partners LP now owns 742,749 shares of the company’s stock worth $31,292,000 after purchasing an additional 459,664 shares during the period. Finally, Sea Cliff Partners Management LP purchased a new stake in AZEK during the 4th quarter worth about $16,174,000. Institutional investors and hedge funds own 97.44% of the company’s stock.

AZEK Stock Down 0.8 %

Shares of AZEK stock opened at $46.10 on Friday. The stock has a 50 day moving average of $42.98 and a 200 day moving average of $44.92. The company has a current ratio of 3.07, a quick ratio of 2.11 and a debt-to-equity ratio of 0.41. The stock has a market cap of $6.71 billion, a P/E ratio of 45.20, a P/E/G ratio of 1.43 and a beta of 1.88. AZEK has a twelve month low of $25.03 and a twelve month high of $50.78.

AZEK (NYSE:AZEK) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.06. The company had revenue of $434.40 million during the quarter, compared to analysts’ expectations of $396.89 million. AZEK had a return on equity of 13.38% and a net margin of 11.35%. AZEK’s quarterly revenue was up 12.1% on a year-over-year basis. During the same period last year, the business earned $0.29 earnings per share. As a group, sell-side analysts expect that AZEK will post 1.05 EPS for the current year.

AZEK declared that its Board of Directors has approved a stock buyback plan on Monday, June 17th that allows the company to repurchase $600.00 million in outstanding shares. This repurchase authorization allows the company to buy up to 9.7% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s leadership believes its stock is undervalued.

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.