Robert W. Baird Increases AZEK (NYSE:AZEK) Price Target to $58.00

AZEK (NYSE:AZEK) had its price objective upped by equities research analysts at Robert W. Baird from $54.00 to $58.00 in a research note issued on Wednesday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Robert W. Baird’s target price would indicate a potential upside of 13.63% from the company’s current price.

A number of other research analysts have also recently commented on the company. JPMorgan Chase & Co. boosted their price target on AZEK from $48.00 to $58.00 and gave the stock an “overweight” rating in a report on Monday, November 25th. Citigroup raised AZEK from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $51.00 to $60.00 in a report on Monday, January 6th. DA Davidson upped their price objective on AZEK from $44.00 to $50.00 and gave the stock a “neutral” rating in a report on Wednesday, November 20th. Benchmark reaffirmed a “buy” rating and set a $55.00 price objective on shares of AZEK in a report on Thursday, November 21st. Finally, Barclays upped their price objective on AZEK from $58.00 to $64.00 and gave the stock an “overweight” rating in a report on Wednesday, December 11th. Four investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, AZEK currently has an average rating of “Moderate Buy” and a consensus target price of $54.20.

AZEK Trading Down 0.9 %

Shares of NYSE:AZEK opened at $51.05 on Wednesday. The stock has a 50 day moving average of $50.29 and a 200 day moving average of $46.36. The company has a market cap of $7.30 billion, a PE ratio of 49.08, a price-to-earnings-growth 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 12-month low of $35.48 and a 12-month high of $54.91.

AZEK (NYSE:AZEK) last announced its quarterly earnings data on Tuesday, February 4th. The company reported $0.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.14 by $0.03. AZEK had a return on equity of 12.68% and a net margin of 10.68%. As a group, equities research analysts expect that AZEK will post 1.28 EPS for the current year.

Insider Transactions at AZEK

In related news, CEO Jesse G. Singh sold 19,613 shares of the firm’s stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $44.98, for a total transaction of $882,192.74. Following the sale, the chief executive officer now owns 904,152 shares of the company’s stock, valued at $40,668,756.96. This trade represents a 2.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CMO Samara Toole sold 1,709 shares of the firm’s stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $53.00, for a total value of $90,577.00. Following the sale, the chief marketing officer now directly owns 16,632 shares in the company, valued at approximately $881,496. The trade was a 9.32 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 41,322 shares of company stock valued at $2,039,170. 3.20% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On AZEK

Institutional investors have recently added to or reduced their stakes in the stock. Wellington Management Group LLP raised its stake in AZEK by 33.8% in the third quarter. Wellington Management Group LLP now owns 14,224,410 shares of the company’s stock valued at $665,702,000 after buying an additional 3,595,863 shares during the last quarter. FMR LLC raised its stake in AZEK by 57.9% in the third quarter. FMR LLC now owns 6,811,591 shares of the company’s stock valued at $318,782,000 after buying an additional 2,497,074 shares during the last quarter. State Street Corp raised its stake in AZEK by 1.9% in the third quarter. State Street Corp now owns 2,451,483 shares of the company’s stock valued at $114,729,000 after buying an additional 45,774 shares during the last quarter. Geode Capital Management LLC raised its stake in AZEK by 0.5% in the third quarter. Geode Capital Management LLC now owns 2,330,636 shares of the company’s stock valued at $109,105,000 after buying an additional 12,644 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its stake in AZEK by 4.7% in the third quarter. JPMorgan Chase & Co. now owns 1,999,232 shares of the company’s stock valued at $93,564,000 after buying an additional 90,206 shares during the last quarter. Institutional investors 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.