The AZEK Company Inc. (NYSE:AZEK) Receives $46.50 Average PT from Brokerages

Shares of The AZEK Company Inc. (NYSE:AZEK) have earned an average recommendation of “Moderate Buy” from the eighteen research firms that are currently covering the stock, Marketbeat Ratings reports. Six investment analysts have rated the stock with a hold recommendation and twelve have given a buy recommendation to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $46.72.

AZEK has been the topic of a number of research reports. Barclays decreased their price target on shares of AZEK from $58.00 to $52.00 and set an “overweight” rating on the stock in a research note on Friday, July 12th. Robert W. Baird decreased their price target on shares of AZEK from $60.00 to $58.00 and set an “outperform” rating on the stock in a research note on Thursday, May 9th. Benchmark initiated coverage on shares of AZEK in a research note on Friday, April 19th. They issued a “buy” rating and a $55.00 price target on the stock. The Goldman Sachs Group cut their price objective on shares of AZEK from $56.00 to $50.00 and set a “buy” rating for the company in a report on Wednesday, July 10th. Finally, Loop Capital cut their price objective on shares of AZEK from $58.00 to $52.00 and set a “buy” rating for the company in a report on Thursday, July 11th.

Insider Transactions at AZEK

In other news, CEO Jesse G. Singh sold 13,000 shares of the company’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $45.97, for a total transaction of $597,610.00. Following the completion of the sale, the chief executive officer now owns 1,070,444 shares of the company’s stock, valued at approximately $49,208,310.68. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CEO Jesse G. Singh sold 13,000 shares of the company’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $45.97, for a total transaction of $597,610.00. Following the completion of the transaction, the chief executive officer now directly owns 1,070,444 shares in the company, valued at approximately $49,208,310.68. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Jonathan Skelly sold 12,000 shares of the company’s stock in a transaction that occurred 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 transaction, the insider now owns 190,134 shares of the company’s stock, valued at $8,883,060.48. The disclosure for this sale can be found here. In the last 90 days, insiders sold 38,000 shares of company stock valued at $1,701,000. Company insiders own 3.10% of the company’s stock.

Hedge Funds Weigh In On AZEK

Institutional investors have recently added to or reduced their stakes in the stock. Venturi Wealth Management LLC increased its position in AZEK by 58.9% during the 1st quarter. Venturi Wealth Management LLC now owns 707 shares of the company’s stock worth $36,000 after purchasing an additional 262 shares in the last quarter. ORG Partners LLC acquired a new position in AZEK during the 1st quarter worth approximately $35,000. Quadrant Capital Group LLC increased its position in 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 acquiring an additional 229 shares during the period. Whittier Trust Co. acquired a new position in AZEK in the 1st quarter valued at approximately $37,000. Finally, Principal Securities Inc. acquired a new position in AZEK in the 4th quarter valued at approximately $44,000. 97.44% of the stock is currently owned by institutional investors and hedge funds.

AZEK Stock Performance

Shares of AZEK stock opened at $42.99 on Friday. AZEK has a 52 week low of $25.03 and a 52 week high of $50.78. The company has a market capitalization of $6.26 billion, a price-to-earnings ratio of 42.15, a PEG ratio of 1.38 and a beta of 1.88. The company has a 50-day simple moving average of $44.66 and a 200 day simple moving average of $44.92. The company has a debt-to-equity ratio of 0.42, a quick ratio of 2.21 and a current ratio of 3.40.

AZEK (NYSE:AZEK) last announced its quarterly earnings results on Friday, June 14th. The company reported $0.39 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.03. AZEK had a net margin of 10.66% and a return on equity of 12.02%. The business had revenue of $418.41 million for the quarter, compared to analyst estimates of $416.79 million. On average, sell-side analysts predict that AZEK will post 1.06 earnings per share 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.