The AZEK Company Inc. Expected to Earn Q3 2024 Earnings of $0.33 Per Share (NYSE:AZEK)

The AZEK Company Inc. (NYSE:AZEK) – Analysts at DA Davidson issued their Q3 2024 earnings per share (EPS) estimates for shares of AZEK in a research note issued on Friday, July 5th. DA Davidson analyst K. Yinger expects that the company will post earnings per share of $0.33 for the quarter. DA Davidson currently has a “Neutral” rating and a $44.00 target price on the stock. The consensus estimate for AZEK’s current full-year earnings is $1.06 per share. DA Davidson also issued estimates for AZEK’s FY2024 earnings at $1.04 EPS.

A number of other analysts have also issued reports on the stock. Citigroup boosted their target price on shares of AZEK from $46.00 to $50.00 and gave the company a “neutral” rating in a research note on Friday, April 5th. Robert W. Baird reduced their price objective on shares of AZEK from $60.00 to $58.00 and set an “outperform” rating for the company in a research note on Thursday, May 9th. Truist Financial reaffirmed a “buy” rating and set a $57.00 target price on shares of AZEK in a research report on Tuesday, June 18th. Benchmark assumed coverage on AZEK in a report on Friday, April 19th. They issued a “buy” rating and a $55.00 price target for the company. Finally, Barclays upped their price objective on shares of AZEK from $50.00 to $58.00 and gave the company an “overweight” rating in a report on Thursday, April 4th. Five analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $45.26.

AZEK Stock Performance

AZEK stock opened at $41.62 on Monday. The firm has a market capitalization of $6.06 billion, a P/E ratio of 40.80, a price-to-earnings-growth ratio of 1.29 and a beta of 1.88. The company’s 50-day moving average is $45.21 and its 200 day moving average is $44.50. AZEK has a 1-year low of $25.03 and a 1-year high of $50.78. The company has a debt-to-equity ratio of 0.42, a current ratio of 3.40 and a quick ratio of 2.21.

AZEK (NYSE:AZEK) last posted its quarterly earnings data on Friday, June 14th. The company reported $0.39 EPS for the quarter, topping the consensus estimate of $0.36 by $0.03. AZEK had a net margin of 10.66% and a return on equity of 12.02%. The company had revenue of $418.41 million during the quarter, compared to analyst estimates of $416.79 million.

Insider Buying and Selling at AZEK

In related news, insider Jonathan Skelly sold 12,000 shares of the business’s stock in a transaction on Tuesday, June 18th. The shares were sold at an average price of $46.72, for a total value of $560,640.00. Following the completion of the sale, the insider now owns 190,134 shares of the company’s stock, valued at approximately $8,883,060.48. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CEO Jesse G. Singh sold 13,000 shares of the stock in a transaction on Friday, May 10th. The stock was sold at an average price of $45.97, for a total value of $597,610.00. Following the completion of the transaction, the chief executive officer now directly owns 1,070,444 shares of the company’s stock, valued at approximately $49,208,310.68. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Jonathan Skelly sold 12,000 shares of AZEK stock in a transaction on Tuesday, June 18th. The stock was sold at an average price of $46.72, for a total transaction of $560,640.00. Following the sale, the insider now directly owns 190,134 shares in the company, valued at approximately $8,883,060.48. The disclosure for this sale can be found here. 3.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On AZEK

Several hedge funds and other institutional investors have recently modified their holdings of AZEK. Vanguard Group Inc. raised its holdings in AZEK by 3.2% in the 1st quarter. Vanguard Group Inc. now owns 13,482,323 shares of the company’s stock valued at $677,082,000 after acquiring an additional 413,297 shares during the last quarter. Wellington Management Group LLP boosted its stake in 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 last quarter. Massachusetts Financial Services Co. MA grew its holdings in AZEK by 7.3% in the 4th 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. Wasatch Advisors LP increased its stake in shares of AZEK by 1.5% in the 4th quarter. Wasatch Advisors LP now owns 2,216,800 shares of the company’s stock worth $84,793,000 after acquiring an additional 31,752 shares during the last quarter. Finally, American Century Companies Inc. raised its holdings in shares of AZEK by 1.8% during the 3rd quarter. American Century Companies Inc. now owns 1,976,725 shares of the company’s stock worth $58,788,000 after acquiring an additional 35,542 shares during the period. 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.