AZEK (NYSE:AZEK) PT Raised to $49.00 at BMO Capital Markets

AZEK (NYSE:AZEK) had its target price raised by stock analysts at BMO Capital Markets from $46.00 to $49.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage presently has a “market perform” rating on the stock. BMO Capital Markets’ price target indicates a potential upside of 16.07% from the stock’s previous close.

Other equities research analysts have also recently issued reports about the company. Citigroup lowered their target price on AZEK from $50.00 to $44.00 and set a “neutral” rating for the company in a report on Thursday, July 11th. Loop Capital downgraded shares of AZEK from a “buy” rating to a “hold” rating and set a $47.00 target price on the stock. in a research report on Friday, October 4th. UBS Group lowered their price target on shares of AZEK from $47.00 to $43.00 and set a “neutral” rating for the company in a research report on Thursday, August 8th. Truist Financial dropped their price objective on shares of AZEK from $57.00 to $52.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Finally, The Goldman Sachs Group reduced their price objective on shares of AZEK from $56.00 to $50.00 and set a “buy” rating for the company in a research note on Wednesday, July 10th. Six analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $48.12.

AZEK Stock Performance

AZEK stock opened at $42.22 on Tuesday. AZEK has a twelve month low of $25.03 and a twelve month high of $50.78. The firm has a market cap of $6.14 billion, a price-to-earnings ratio of 41.39, a PEG ratio of 1.10 and a beta of 1.88. The business’s fifty day simple moving average is $43.62 and its two-hundred day simple moving average is $44.37. The company has a quick ratio of 2.11, a current ratio of 3.07 and a debt-to-equity ratio of 0.41.

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

Insider Activity at AZEK

In other AZEK news, CEO Jesse G. Singh sold 20,000 shares of the firm’s stock in a transaction 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, Director Pamela J. Edwards bought 600 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The stock was purchased at an average price of $41.70 per share, with a total value of $25,020.00. Following the completion of the acquisition, the director now directly owns 8,708 shares of the company’s stock, valued at $363,123.60. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jesse G. Singh sold 20,000 shares of the stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $41.47, for a total transaction of $829,400.00. Following the completion of the transaction, the chief executive officer now owns 186,705 shares in the company, valued at approximately $7,742,656.35. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 3.10% of the stock is currently owned by insiders.

Institutional Trading of AZEK

Several large investors have recently made changes to their positions in AZEK. ORG Wealth Partners LLC acquired a new position in AZEK during the third quarter valued at $31,000. ORG Partners LLC purchased a new position in shares of AZEK during the 1st quarter valued at about $35,000. Whittier Trust Co. acquired a new position in shares of AZEK in the 1st quarter valued at about $37,000. Paladin Wealth LLC purchased a new stake in shares of AZEK in the third quarter worth about $39,000. Finally, Blue Trust Inc. grew its holdings in AZEK by 106.4% during the third quarter. Blue Trust Inc. now owns 931 shares of the company’s stock worth $44,000 after acquiring an additional 480 shares during the period. 97.44% of the stock is owned by hedge funds and other institutional investors.

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.