William Blair Analysts Raise Earnings Estimates for The AZEK Company Inc. (NYSE:AZEK)

The AZEK Company Inc. (NYSE:AZEK) – Equities research analysts at William Blair lifted their Q2 2024 earnings per share (EPS) estimates for shares of AZEK in a research report issued on Tuesday, April 16th. William Blair analyst R. Merkel now expects that the company will earn $0.34 per share for the quarter, up from their prior estimate of $0.31. The consensus estimate for AZEK’s current full-year earnings is $1.02 per share. William Blair also issued estimates for AZEK’s Q3 2024 earnings at $0.30 EPS, Q4 2024 earnings at $0.26 EPS and FY2025 earnings at $1.20 EPS.

AZEK has been the topic of a number of other reports. Stephens raised their target price on AZEK from $40.00 to $50.00 and gave the company an “overweight” rating in a research report on Wednesday, February 7th. Robert W. Baird boosted their price objective on AZEK from $52.00 to $60.00 and gave the company an “outperform” rating in a research report on Monday, April 8th. Truist Financial lifted their price target on shares of AZEK from $40.00 to $48.00 and gave the company a “buy” rating in a research note on Wednesday, February 7th. Barclays upped their price objective on shares of AZEK from $50.00 to $58.00 and gave the stock an “overweight” rating in a research report on Thursday, April 4th. Finally, Stifel Nicolaus lifted their target price on shares of AZEK from $44.00 to $52.00 and gave the company a “buy” rating in a research report on Wednesday, February 7th. Four analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $42.84.

AZEK Stock Down 1.3 %

AZEK stock opened at $45.62 on Thursday. AZEK has a 1-year low of $23.08 and a 1-year high of $50.78. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.99 and a quick ratio of 1.67. The business has a fifty day moving average price of $47.79 and a 200-day moving average price of $38.39. The stock has a market capitalization of $6.74 billion, a price-to-earnings ratio of 57.75, a PEG ratio of 1.51 and a beta of 1.92.

AZEK (NYSE:AZEK) last announced its earnings results on Tuesday, February 6th. The company reported $0.08 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.05. The business had revenue of $240.44 million during the quarter, compared to the consensus estimate of $234.12 million. AZEK had a net margin of 8.57% and a return on equity of 9.61%.

Insider Activity at AZEK

In other AZEK news, insider Jonathan Skelly sold 10,000 shares of AZEK stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $46.78, for a total transaction of $467,800.00. Following the transaction, the insider now directly owns 180,784 shares of the company’s stock, valued at $8,457,075.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Michelle A. Kasson sold 94,431 shares of the firm’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $49.47, for a total transaction of $4,671,501.57. Following the completion of the sale, the insider now directly owns 23,544 shares of the company’s stock, valued at approximately $1,164,721.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jonathan Skelly sold 10,000 shares of the business’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $46.78, for a total transaction of $467,800.00. Following the completion of the sale, the insider now owns 180,784 shares in the company, valued at $8,457,075.52. The disclosure for this sale can be found here. Over the last quarter, insiders sold 130,431 shares of company stock valued at $6,356,622. 3.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On AZEK

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in shares of AZEK by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 13,069,026 shares of the company’s stock worth $499,890,000 after purchasing an additional 56,612 shares during the period. Wellington Management Group LLP boosted its position in shares of AZEK by 0.3% during the fourth quarter. Wellington Management Group LLP now owns 12,152,986 shares of the company’s stock worth $464,852,000 after buying an additional 42,132 shares during the period. Massachusetts Financial Services Co. MA grew its stake in shares of AZEK by 7.3% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 7,632,693 shares of the company’s stock valued at $291,951,000 after buying an additional 516,523 shares in the last quarter. BlackRock Inc. lifted its stake in AZEK by 15.6% during the 2nd quarter. BlackRock Inc. now owns 6,899,713 shares of the company’s stock worth $208,992,000 after acquiring an additional 929,341 shares in the last quarter. Finally, Morgan Stanley grew its position in AZEK by 272.4% in the 4th quarter. Morgan Stanley now owns 3,973,475 shares of the company’s stock valued at $80,741,000 after acquiring an additional 2,906,460 shares in the last quarter. 97.44% of the stock is owned by hedge funds and other institutional investors.

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.