The AZEK Company Inc. (NYSE:AZEK) Receives $54.00 Average PT from Brokerages

The AZEK Company Inc. (NYSE:AZEK) has received an average rating of “Moderate Buy” from the thirteen analysts that are currently covering the stock, MarketBeat.com reports. Four investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $54.85.

AZEK has been the topic of a number of recent research reports. Robert W. Baird increased their price objective on AZEK from $54.00 to $58.00 and gave the stock an “outperform” rating in a report on Wednesday, February 5th. JPMorgan Chase & Co. increased their price objective on AZEK from $48.00 to $58.00 and gave the stock an “overweight” rating in a report on Monday, November 25th. DA Davidson increased 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 reissued a “buy” rating and set a $55.00 price objective on shares of AZEK in a report on Thursday, November 21st. Finally, Citigroup raised AZEK from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $51.00 to $60.00 in a report on Monday, January 6th.

Insider Buying and Selling at AZEK

In other news, CMO Samara Toole sold 1,709 shares of the stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $53.00, for a total transaction of $90,577.00. Following the transaction, the chief marketing officer now directly owns 16,632 shares in the company, valued at approximately $881,496. This represents a 9.32 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jesse G. Singh sold 19,613 shares of the stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $44.98, for a total value of $882,192.74. Following the transaction, the chief executive officer now owns 904,152 shares in the company, valued at $40,668,756.96. This trade represents a 2.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 61,709 shares of company stock valued at $3,060,151 in the last 90 days. Corporate insiders own 3.20% of the company’s stock.

Hedge Funds Weigh In On AZEK

Several institutional investors have recently modified their holdings of the company. Wellington Management Group LLP grew its position in AZEK by 33.8% during the 3rd quarter. Wellington Management Group LLP now owns 14,224,410 shares of the company’s stock worth $665,702,000 after acquiring an additional 3,595,863 shares during the last quarter. FMR LLC grew its position in AZEK by 57.9% during the 3rd quarter. FMR LLC now owns 6,811,591 shares of the company’s stock worth $318,782,000 after acquiring an additional 2,497,074 shares during the last quarter. Norges Bank bought a new position in AZEK during the 4th quarter worth approximately $94,987,000. Arrowstreet Capital Limited Partnership grew its position in AZEK by 72.7% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,957,094 shares of the company’s stock worth $92,903,000 after acquiring an additional 823,588 shares during the last quarter. Finally, Alliancebernstein L.P. grew its position in AZEK by 15.0% during the 4th quarter. Alliancebernstein L.P. now owns 3,294,619 shares of the company’s stock worth $156,396,000 after acquiring an additional 429,574 shares during the last quarter. 97.44% of the stock is currently owned by institutional investors.

AZEK Stock Down 2.3 %

Shares of NYSE AZEK opened at $49.07 on Thursday. AZEK has a one year low of $35.48 and a one year high of $54.91. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.56 and a quick ratio of 1.14. The business’s fifty day moving average price is $50.01 and its 200-day moving average price is $46.55. The stock has a market capitalization of $7.02 billion, a PE ratio of 49.57, a P/E/G ratio of 2.19 and a beta of 1.94.

AZEK (NYSE:AZEK) last issued its quarterly earnings results on Tuesday, February 4th. The company reported $0.17 EPS for the quarter, beating analysts’ consensus estimates of $0.14 by $0.03. AZEK had a return on equity of 13.47% and a net margin of 9.85%. On average, equities research analysts anticipate that AZEK will post 1.29 EPS for the current year.

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.