BMO Capital Markets Increases AZEK (NYSE:AZEK) Price Target to $54.00

AZEK (NYSE:AZEK) had its price target raised by equities research analysts at BMO Capital Markets from $52.00 to $54.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “market perform” rating on the stock. BMO Capital Markets’ price target suggests a potential upside of 7.76% from the company’s previous close.

AZEK has been the subject of a number of other research reports. JPMorgan Chase & Co. raised their price target on shares of AZEK from $48.00 to $58.00 and gave the stock an “overweight” rating in a research note on Monday, November 25th. Benchmark reaffirmed a “buy” rating and set a $55.00 price objective on shares of AZEK in a research note on Thursday, November 21st. Citigroup upgraded shares of AZEK from a “neutral” rating to a “buy” rating and lifted their target price for the company from $51.00 to $60.00 in a research note on Monday, January 6th. Barclays increased their price target on AZEK from $58.00 to $64.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 11th. Finally, Royal Bank of Canada lifted their price objective on AZEK from $50.00 to $58.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. Four equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, AZEK has a consensus rating of “Moderate Buy” and an average price target of $54.85.

AZEK Price Performance

Shares of NYSE:AZEK opened at $50.11 on Thursday. The firm has a market capitalization of $7.17 billion, a PE ratio of 48.18, a PEG ratio of 2.23 and a beta of 1.94. The company has a current ratio of 2.17, a quick ratio of 1.14 and a debt-to-equity ratio of 0.32. AZEK has a 1-year low of $35.48 and a 1-year high of $54.91. The business’s 50 day moving average is $50.23 and its 200-day moving average is $46.40.

AZEK (NYSE:AZEK) last posted its quarterly earnings results on Tuesday, February 4th. The company reported $0.17 earnings per share for the quarter, topping analysts’ consensus estimates of $0.14 by $0.03. AZEK had a net margin of 10.68% and a return on equity of 12.68%. Sell-side analysts predict that AZEK will post 1.28 earnings per share for the current year.

Insider Buying and Selling at AZEK

In other news, CEO Jesse G. Singh sold 20,000 shares of the stock in a transaction on Monday, December 16th. The stock was sold at an average price of $53.32, for a total value of $1,066,400.00. Following the transaction, the chief executive officer now owns 923,765 shares of the company’s stock, valued at $49,255,149.80. This represents a 2.12 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CMO Samara Toole sold 1,709 shares of the firm’s stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $53.00, for a total value of $90,577.00. Following the completion of the transaction, the chief marketing officer now owns 16,632 shares in the company, valued at $881,496. This represents a 9.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 41,322 shares of company stock worth $2,039,170. Company insiders own 3.20% of the company’s stock.

Institutional Trading of AZEK

Hedge funds have recently modified their holdings of the company. WCM Investment Management LLC increased its stake in AZEK by 2.2% in the third quarter. WCM Investment Management LLC now owns 539,494 shares of the company’s stock valued at $25,232,000 after purchasing an additional 11,770 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its position in shares of AZEK by 8.1% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 671,267 shares of the company’s stock valued at $31,415,000 after buying an additional 50,230 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in AZEK by 105.4% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 60,798 shares of the company’s stock worth $2,845,000 after buying an additional 31,193 shares during the period. State Street Corp lifted its holdings in AZEK by 1.9% during the third quarter. State Street Corp now owns 2,451,483 shares of the company’s stock worth $114,729,000 after acquiring an additional 45,774 shares in the last quarter. Finally, Algert Global LLC grew its stake in AZEK by 18.5% in the third quarter. Algert Global LLC now owns 119,453 shares of the company’s stock valued at $5,590,000 after acquiring an additional 18,690 shares during the period. 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.