BMO Capital Markets Issues Positive Forecast for AZEK (NYSE:AZEK) Stock Price

AZEK (NYSE:AZEK) had its target price hoisted by BMO Capital Markets from $54.00 to $57.00 in a research note published on Monday morning,Benzinga reports. They currently have a market perform rating on the stock.

AZEK has been the topic of a number of other research reports. Citigroup raised AZEK from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $51.00 to $60.00 in a research report on Monday, January 6th. Royal Bank of Canada upped their price target on AZEK from $50.00 to $58.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. The Goldman Sachs Group increased their price target on AZEK from $52.00 to $59.00 and gave the company a “buy” rating in a research report on Thursday, December 12th. Robert W. Baird reissued a “neutral” rating and set a $53.00 price objective (down from $58.00) on shares of AZEK in a research report on Monday. Finally, JPMorgan Chase & Co. raised their target price on shares of AZEK from $48.00 to $58.00 and gave the company an “overweight” rating in a report on Monday, November 25th. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $54.93.

AZEK Stock Performance

Shares of AZEK stock opened at $48.67 on Monday. The stock has a market capitalization of $6.99 billion, a price-to-earnings ratio of 49.16, a price-to-earnings-growth ratio of 1.91 and a beta of 1.95. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.56 and a quick ratio of 1.19. The business has a 50-day moving average of $47.39 and a 200 day moving average of $47.23. AZEK has a 12 month low of $35.48 and a 12 month high of $54.91.

AZEK (NYSE:AZEK) last posted its quarterly earnings data on Tuesday, February 4th. The company reported $0.17 EPS for the quarter, beating the consensus estimate of $0.14 by $0.03. AZEK had a net margin of 9.85% and a return on equity of 13.47%. As a group, sell-side analysts forecast that AZEK will post 1.34 earnings per share for the current year.

Insider Activity

In related news, CEO Jesse G. Singh sold 15,000 shares of the business’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $41.03, for a total value of $615,450.00. Following the completion of the sale, the chief executive officer now directly owns 868,765 shares of the company’s stock, valued at $35,645,427.95. The trade was a 1.70 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last quarter, insiders sold 55,000 shares of company stock worth $2,518,624. Corporate insiders own 3.20% of the company’s stock.

Institutional Trading of AZEK

Hedge funds and other institutional investors have recently made changes to their positions in the company. Landscape Capital Management L.L.C. purchased a new position in AZEK during the 3rd quarter worth approximately $256,000. Charles Schwab Investment Management Inc. boosted its holdings in shares of AZEK by 2.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,145,302 shares of the company’s stock valued at $53,600,000 after acquiring an additional 28,080 shares during the period. Bank of Montreal Can grew its position in shares of AZEK by 22.8% during the third quarter. Bank of Montreal Can now owns 196,361 shares of the company’s stock worth $9,184,000 after acquiring an additional 36,433 shares during the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of AZEK by 38.7% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 719,568 shares of the company’s stock valued at $33,676,000 after acquiring an additional 200,746 shares during the period. Finally, FMR LLC raised its position in AZEK by 57.9% in the 3rd quarter. FMR LLC now owns 6,811,591 shares of the company’s stock valued at $318,782,000 after purchasing an additional 2,497,074 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.