AZEK (NYSE:AZEK) Receives “Peer Perform” Rating from Wolfe Research

Wolfe Research restated their peer perform rating on shares of AZEK (NYSE:AZEK) in a research note released on Wednesday morning, Marketbeat Ratings reports.

Other equities research analysts have also recently issued research reports about the stock. Barclays increased their target price on shares of AZEK from $58.00 to $64.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 11th. BMO Capital Markets lifted their target price on shares of AZEK from $54.00 to $57.00 and gave the company a “market perform” rating in a research note on Monday. Royal Bank of Canada increased their price target on AZEK from $50.00 to $58.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. Baird R W cut AZEK from a “strong-buy” rating to a “hold” rating in a report on Monday. Finally, Stephens reissued an “equal weight” rating and issued a $58.00 price objective on shares of AZEK in a research note on Monday. Nine investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, AZEK has an average rating of “Hold” and a consensus price target of $54.32.

AZEK Stock Down 0.1 %

NYSE AZEK opened at $48.96 on Wednesday. AZEK has a 1-year low of $35.48 and a 1-year high of $54.91. The company has a current ratio of 2.56, a quick ratio of 1.19 and a debt-to-equity ratio of 0.31. The stock’s 50 day moving average is $47.41 and its two-hundred day moving average is $47.30. The company has a market capitalization of $7.03 billion, a price-to-earnings ratio of 49.45, a PEG ratio of 1.91 and a beta of 1.95.

AZEK (NYSE:AZEK) last announced its quarterly earnings results 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 return on equity of 13.47% and a net margin of 9.85%. Equities analysts forecast that AZEK will post 1.34 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other AZEK news, CEO Jesse G. Singh sold 15,000 shares of AZEK stock in a transaction on Monday, March 10th. The shares were sold at an average price of $41.03, for a total transaction of $615,450.00. Following the completion of the sale, the chief executive officer now owns 868,765 shares of the company’s stock, valued at approximately $35,645,427.95. The trade was a 1.70 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last three months, insiders sold 55,000 shares of company stock valued at $2,518,624. 3.20% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Empowered Funds LLC bought a new position in AZEK during the 4th quarter worth approximately $27,000. FIL Ltd acquired a new stake in AZEK in the fourth quarter worth $28,000. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of AZEK by 623.2% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 687 shares of the company’s stock worth $33,000 after purchasing an additional 592 shares in the last quarter. Avalon Trust Co acquired a new position in shares of AZEK in the 4th quarter valued at $38,000. Finally, GAMMA Investing LLC increased its position in shares of AZEK by 39.1% in the 4th quarter. GAMMA Investing LLC now owns 851 shares of the company’s stock valued at $40,000 after buying an additional 239 shares in the last quarter. 97.44% of the stock is currently owned by institutional investors.

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.