AZEK (NYSE:AZEK) Stock Rating Lowered by BMO Capital Markets

BMO Capital Markets lowered shares of AZEK (NYSE:AZEK) from an outperform rating to a market perform rating in a report issued on Tuesday morning, Marketbeat.com reports. The brokerage currently has $50.00 price target on the stock, down from their previous price target of $53.00.

AZEK has been the topic of several other research reports. Truist Financial reissued a buy rating and set a $57.00 price objective on shares of AZEK in a research note on Tuesday, June 18th. Benchmark started coverage on shares of AZEK in a research note on Friday, April 19th. They set a buy rating and a $55.00 price objective on the stock. DA Davidson downgraded shares of AZEK from a buy rating to a neutral rating and reduced their price objective for the company from $57.00 to $44.00 in a research note on Wednesday, July 3rd. Loop Capital cut their price target on shares of AZEK from $58.00 to $52.00 and set a buy rating on the stock in a research note on Thursday, July 11th. Finally, The Goldman Sachs Group lowered their price objective on shares of AZEK from $56.00 to $50.00 and set a buy rating for the company in a research note on Wednesday, July 10th. Six investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average price target of $46.72.

AZEK Stock Up 1.8 %

Shares of NYSE AZEK opened at $42.99 on Tuesday. The company has a debt-to-equity ratio of 0.42, a current ratio of 3.40 and a quick ratio of 2.21. The company has a market capitalization of $6.26 billion, a PE ratio of 42.15, a price-to-earnings-growth ratio of 1.38 and a beta of 1.88. The firm’s 50-day moving average is $44.66 and its two-hundred day moving average is $44.92. AZEK has a 12-month low of $25.03 and a 12-month high of $50.78.

AZEK (NYSE:AZEK) last announced its quarterly earnings data on Friday, June 14th. The company reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.03. The business had revenue of $418.41 million for the quarter, compared to the consensus estimate of $416.79 million. AZEK had a net margin of 10.66% and a return on equity of 12.02%. Equities analysts anticipate that AZEK will post 1.06 EPS for the current fiscal year.

Insider Activity at AZEK

In related news, CEO Jesse G. Singh sold 13,000 shares of the firm’s stock in a transaction dated Wednesday, July 10th. The stock was sold at an average price of $41.75, for a total transaction of $542,750.00. Following the completion of the transaction, the chief executive officer now owns 1,024,444 shares of the company’s stock, valued at $42,770,537. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CEO Jesse G. Singh sold 13,000 shares of the firm’s stock in a transaction dated Wednesday, July 10th. The stock was sold at an average price of $41.75, for a total transaction of $542,750.00. Following the completion of the transaction, the chief executive officer now owns 1,024,444 shares of the company’s stock, valued at $42,770,537. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Jonathan Skelly sold 12,000 shares of the firm’s stock in a transaction dated Tuesday, June 18th. The shares were sold at an average price of $46.72, for a total value of $560,640.00. Following the transaction, the insider now directly owns 190,134 shares of the company’s stock, valued at approximately $8,883,060.48. The disclosure for this sale can be found here. Insiders sold 38,000 shares of company stock valued at $1,701,000 over the last 90 days. 3.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On AZEK

Hedge funds and other institutional investors have recently modified their holdings of the stock. Quadrant Capital Group LLC boosted its position in shares of AZEK by 45.9% in the 4th quarter. Quadrant Capital Group LLC now owns 728 shares of the company’s stock valued at $28,000 after purchasing an additional 229 shares during the period. ORG Partners LLC acquired a new position in shares of AZEK in the 1st quarter valued at $35,000. Venturi Wealth Management LLC lifted its stake in AZEK by 58.9% in the 1st quarter. Venturi Wealth Management LLC now owns 707 shares of the company’s stock worth $36,000 after acquiring an additional 262 shares in the last quarter. Whittier Trust Co. purchased a new stake in AZEK in the 1st quarter worth about $37,000. Finally, Principal Securities Inc. purchased a new stake in AZEK in the 4th quarter worth about $44,000. Institutional investors and hedge funds own 97.44% of the company’s stock.

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.