The AZEK (NYSE:AZEK) Now Covered by Wedbush

Wedbush began coverage on shares of The AZEK (NYSE:AZEK) in a research report issued on Monday, Analyst Ratings Network reports. The firm set an “outperform” rating and a $52.00 price target on the stock. Wedbush’s price objective suggests a potential upside of 10.10% from the stock’s current price.

Several other research firms have also recently weighed in on AZEK. Loop Capital assumed coverage on The AZEK in a report on Wednesday, April 14th. They set a “buy” rating and a $52.00 price target on the stock. Citigroup raised their target price on The AZEK from $42.00 to $47.00 in a report on Friday, February 12th. B. Riley raised their target price on The AZEK from $48.00 to $50.00 and gave the stock a “buy” rating in a report on Friday, February 12th. BMO Capital Markets began coverage on The AZEK in a report on Wednesday, January 13th. They issued an “outperform” rating and a $48.00 target price on the stock. Finally, Royal Bank of Canada raised their target price on The AZEK from $43.00 to $50.00 and gave the stock an “outperform” rating in a report on Tuesday, January 26th. One research analyst has rated the stock with a sell rating, four have given a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $43.39.

Shares of AZEK opened at $47.23 on Monday. The business’s fifty day simple moving average is $44.38 and its two-hundred day simple moving average is $40.21. The company has a current ratio of 3.42, a quick ratio of 2.38 and a debt-to-equity ratio of 0.36. The AZEK has a 12 month low of $26.35 and a 12 month high of $49.64. The company has a market cap of $7.31 billion and a price-to-earnings ratio of 80.05.

The AZEK (NYSE:AZEK) last released its quarterly earnings results on Wednesday, February 10th. The company reported $0.15 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.04. The firm had revenue of $212.28 million for the quarter, compared to the consensus estimate of $211.60 million. As a group, research analysts forecast that The AZEK will post 0.77 EPS for the current year.

In other The AZEK news, CEO Jesse G. Singh sold 18,000 shares of the stock in a transaction on Friday, April 16th. The stock was sold at an average price of $47.95, for a total value of $863,100.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Ralph J. Nicoletti sold 5,315 shares of the stock in a transaction on Monday, April 19th. The stock was sold at an average price of $49.54, for a total value of $263,305.10. The disclosure for this sale can be found here. Insiders have sold a total of 68,647 shares of company stock valued at $3,223,113 over the last quarter.

Institutional investors have recently made changes to their positions in the company. Interval Partners LP purchased a new position in shares of The AZEK during the fourth quarter valued at $2,045,000. California State Teachers Retirement System purchased a new position in shares of The AZEK during the third quarter valued at $2,411,000. Price T Rowe Associates Inc. MD purchased a new position in shares of The AZEK during the fourth quarter valued at $933,000. Jennison Associates LLC increased its stake in shares of The AZEK by 20.7% during the fourth quarter. Jennison Associates LLC now owns 1,418,465 shares of the company’s stock valued at $54,540,000 after buying an additional 243,734 shares during the period. Finally, Steward Partners Investment Advisory LLC increased its stake in shares of The AZEK by 13.7% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 10,800 shares of the company’s stock valued at $415,000 after buying an additional 1,300 shares during the period. Hedge funds and other institutional investors own 94.35% of the company’s stock.

The AZEK Company Profile

The AZEK Company Inc engages in designing, manufacturing, and selling building products for residential, commercial, and industrial markets in the United States. The operates in two segments, Residential and Commercial. Its products include trims, decks, porches, moldings, railings, pavers, and bathroom and locker systems, as well as extruded plastic sheet products and other non-fabricated products for special applications in industrial markets.

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Analyst Recommendations for The AZEK (NYSE:AZEK)

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