AZEK (NYSE:AZEK) Upgraded by Bank of America to Buy

AZEK (NYSE:AZEKGet Rating) was upgraded by equities researchers at Bank of America from a “neutral” rating to a “buy” rating in a note issued to investors on Friday, The Fly reports.

A number of other equities research analysts also recently weighed in on AZEK. B. Riley reduced their price target on shares of AZEK from $35.00 to $29.00 in a research note on Thursday, May 12th. Truist Financial reduced their price target on shares of AZEK from $34.00 to $30.00 and set a “buy” rating on the stock in a research note on Thursday. Stifel Nicolaus reduced their price target on shares of AZEK from $30.00 to $27.00 in a research note on Thursday. Credit Suisse Group initiated coverage on shares of AZEK in a report on Tuesday, April 5th. They issued an “outperform” rating and a $29.00 price objective for the company. Finally, Zelman & Associates upgraded shares of AZEK from a “hold” rating to a “buy” rating in a report on Wednesday, May 11th. One analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, AZEK currently has a consensus rating of “Buy” and an average target price of $32.33.

AZEK stock opened at $15.79 on Friday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.28 and a current ratio of 3.00. The company’s 50-day simple moving average is $20.84 and its 200 day simple moving average is $29.40. AZEK has a 52 week low of $15.52 and a 52 week high of $46.56. The company has a market capitalization of $2.45 billion, a PE ratio of 21.63, a price-to-earnings-growth ratio of 1.17 and a beta of 1.71.

AZEK (NYSE:AZEKGet Rating) last announced its quarterly earnings data on Tuesday, May 10th. The company reported $0.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.30 by $0.03. The firm had revenue of $396.26 million for the quarter, compared to the consensus estimate of $368.06 million. AZEK had a net margin of 8.49% and a return on equity of 11.08%. The business’s revenue for the quarter was up 35.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.22 earnings per share. On average, analysts forecast that AZEK will post 1.01 EPS for the current year.

Several large investors have recently added to or reduced their stakes in AZEK. Allspring Global Investments Holdings LLC bought a new stake in shares of AZEK in the 4th quarter valued at $170,251,000. Massachusetts Financial Services Co. MA grew its position in AZEK by 20.0% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 6,906,687 shares of the company’s stock valued at $319,365,000 after purchasing an additional 1,149,893 shares during the period. Wellington Management Group LLP grew its position in AZEK by 920.6% in the 1st quarter. Wellington Management Group LLP now owns 886,633 shares of the company’s stock valued at $22,024,000 after purchasing an additional 799,760 shares during the period. Phoenix Holdings Ltd. acquired a new stake in AZEK in the 4th quarter valued at $36,871,000. Finally, Balyasny Asset Management LLC grew its position in AZEK by 604.3% in the 3rd quarter. Balyasny Asset Management LLC now owns 869,239 shares of the company’s stock valued at $31,753,000 after purchasing an additional 745,814 shares during the period. Institutional investors own 96.53% of the company’s stock.

AZEK Company Profile (Get Rating)

The AZEK Company Inc engages in designing, manufacturing, and selling building products for residential, commercial, and industrial markets in the United States. It operates through two segments: Residential and Commercial. The Residential segment designs and manufactures engineered outdoor living products, which includes decking, railing, trim and moulding, and accessories under the TimberTech, AZEK Exteriors, VERSATEX, and ULTRALOX brand name.

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