AZEK (NYSE:AZEK) Price Target Raised to $49.00 at Royal Bank of Canada

AZEK (NYSE:AZEKFree Report) had its target price boosted by Royal Bank of Canada from $43.00 to $49.00 in a report issued on Wednesday morning, Benzinga reports. They currently have an outperform rating on the stock.

Several other research firms have also commented on AZEK. TheStreet raised shares of AZEK from a c+ rating to a b- rating in a report on Wednesday, January 31st. Wolfe Research assumed coverage on shares of AZEK in a report on Tuesday, December 12th. They issued an outperform rating and a $43.00 target price on the stock. BMO Capital Markets boosted their price target on shares of AZEK from $37.00 to $39.00 and gave the company an outperform rating in a report on Thursday, November 30th. Stephens boosted their target price on shares of AZEK from $40.00 to $50.00 and gave the stock an overweight rating in a research report on Wednesday. Finally, Stifel Nicolaus upped their target price on shares of AZEK from $38.00 to $44.00 and gave the company a buy rating in a research note on Tuesday, December 19th. Five investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus target price of $37.89.

View Our Latest Report on AZEK

AZEK Stock Up 14.5 %

AZEK stock opened at $45.36 on Wednesday. The company has a current ratio of 2.99, a quick ratio of 1.85 and a debt-to-equity ratio of 0.41. The stock’s fifty day simple moving average is $37.49 and its 200-day simple moving average is $32.82. The firm has a market capitalization of $6.70 billion, a P/E ratio of 100.79 and a beta of 1.87. AZEK has a twelve month low of $21.34 and a twelve month high of $45.83.

AZEK (NYSE:AZEKGet Free Report) last issued its earnings results on Tuesday, November 28th. The company reported $0.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.29 by $0.07. AZEK had a net margin of 4.96% and a return on equity of 7.60%. The company had revenue of $388.81 million during the quarter, compared to analysts’ expectations of $368.68 million. During the same period last year, the company posted $0.15 earnings per share. The firm’s quarterly revenue was up 27.6% compared to the same quarter last year. As a group, equities analysts expect that AZEK will post 0.83 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Jonathan Skelly sold 9,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 20th. The shares were sold at an average price of $38.75, for a total value of $348,750.00. Following the transaction, the insider now owns 190,784 shares in the company, valued at $7,392,880. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other AZEK news, CEO Jesse G. Singh sold 13,000 shares of the firm’s stock in a transaction on Wednesday, January 10th. The stock was sold at an average price of $37.23, for a total transaction of $483,990.00. Following the completion of the transaction, the chief executive officer now owns 1,227,444 shares of the company’s stock, valued at $45,697,740.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jonathan Skelly sold 9,000 shares of the firm’s stock in a transaction on Wednesday, December 20th. The shares were sold at an average price of $38.75, for a total value of $348,750.00. Following the transaction, the insider now directly owns 190,784 shares of the company’s stock, valued at approximately $7,392,880. The disclosure for this sale can be found here. Over the last three months, insiders have sold 35,000 shares of company stock worth $1,285,010. Insiders own 3.10% of the company’s stock.

Institutional Investors Weigh In On AZEK

Large investors have recently bought and sold shares of the business. PNC Financial Services Group Inc. lifted its position in shares of AZEK by 35.2% during the 1st quarter. PNC Financial Services Group Inc. now owns 11,990 shares of the company’s stock valued at $299,000 after buying an additional 3,124 shares in the last quarter. Natixis Advisors L.P. purchased a new position in shares of AZEK during the 1st quarter valued at about $1,468,000. Bank of Montreal Can lifted its position in shares of AZEK by 155.0% during the 1st quarter. Bank of Montreal Can now owns 22,887 shares of the company’s stock valued at $602,000 after buying an additional 13,910 shares in the last quarter. MetLife Investment Management LLC purchased a new position in AZEK in the 1st quarter worth approximately $124,000. Finally, Dimensional Fund Advisors LP lifted its holdings in AZEK by 113.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 724,014 shares of the company’s stock worth $17,989,000 after purchasing an additional 384,936 shares in the last quarter.

AZEK Company Profile

(Get Free Report)

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.

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Analyst Recommendations for AZEK (NYSE:AZEK)

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