AZEK (NYSE:AZEK) Sets New 1-Year High Following Analyst Upgrade

Shares of The AZEK Company Inc. (NYSE:AZEKGet Free Report) reached a new 52-week high during trading on Wednesday after BMO Capital Markets raised their price target on the stock from $39.00 to $46.00. BMO Capital Markets currently has an outperform rating on the stock. AZEK traded as high as $44.64 and last traded at $44.19, with a volume of 1130328 shares trading hands. The stock had previously closed at $39.60.

AZEK has been the topic of several other reports. Stifel Nicolaus raised their price target on shares of AZEK from $44.00 to $52.00 and gave the stock a “buy” rating in a research note on Wednesday. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $37.00 target price (down from $38.00) on shares of AZEK in a research note on Friday, December 8th. Barclays reduced their target price on shares of AZEK from $41.00 to $37.00 and set an “overweight” rating on the stock in a research note on Thursday, October 12th. Wolfe Research assumed coverage on shares of AZEK in a research note on Tuesday, December 12th. They set an “outperform” rating and a $43.00 target price on the stock. Finally, TheStreet raised shares of AZEK from a “c+” rating to a “b-” rating in a research note on Wednesday, January 31st. Five analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $39.21.

Get Our Latest Stock Report on AZEK

Insider Activity at AZEK

In related news, CEO Jesse G. Singh sold 13,000 shares of AZEK stock in a transaction that occurred on Monday, December 11th. The shares were sold at an average price of $34.79, for a total value of $452,270.00. Following the completion of the transaction, the chief executive officer now owns 1,197,202 shares in the company, valued at $41,650,657.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other AZEK news, insider Jonathan Skelly sold 9,000 shares of the business’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 transaction of $348,750.00. Following the completion of the transaction, the insider now owns 190,784 shares in the company, valued at approximately $7,392,880. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jesse G. Singh sold 13,000 shares of the business’s stock in a transaction that occurred on Monday, December 11th. The stock was sold at an average price of $34.79, for a total transaction of $452,270.00. Following the transaction, the chief executive officer now owns 1,197,202 shares of the company’s stock, valued at approximately $41,650,657.58. The disclosure for this sale can be found here. Over the last quarter, insiders sold 35,000 shares of company stock worth $1,285,010. Corporate insiders own 3.10% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Quadrant Capital Group LLC grew its holdings in AZEK by 45.9% during the 4th quarter. Quadrant Capital Group LLC now owns 728 shares of the company’s stock worth $28,000 after acquiring an additional 229 shares in the last quarter. Alliance Wealth Advisors LLC UT boosted its holdings in shares of AZEK by 4.1% in the 3rd quarter. Alliance Wealth Advisors LLC UT now owns 13,044 shares of the company’s stock valued at $388,000 after buying an additional 515 shares in the last quarter. First Dallas Securities Inc. boosted its holdings in shares of AZEK by 5.8% in the 3rd quarter. First Dallas Securities Inc. now owns 10,050 shares of the company’s stock valued at $299,000 after buying an additional 550 shares in the last quarter. Steward Partners Investment Advisory LLC boosted its holdings in shares of AZEK by 6.7% in the 1st quarter. Steward Partners Investment Advisory LLC now owns 9,575 shares of the company’s stock valued at $225,000 after buying an additional 600 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its holdings in shares of AZEK by 6.2% in the 2nd quarter. Principal Financial Group Inc. now owns 11,739 shares of the company’s stock valued at $197,000 after buying an additional 682 shares in the last quarter.

AZEK Stock Performance

The firm has a market cap of $6.79 billion, a price-to-earnings ratio of 58.19 and a beta of 1.87. 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 firm’s fifty day moving average price is $37.72 and its 200-day moving average price is $32.91.

AZEK (NYSE:AZEKGet Free Report) last released its quarterly earnings results on Tuesday, November 28th. The company reported $0.36 EPS for the quarter, topping the consensus estimate of $0.29 by $0.07. The company had revenue of $388.81 million for the quarter, compared to analyst estimates of $368.68 million. AZEK had a return on equity of 9.48% and a net margin of 8.57%. The firm’s revenue was up 27.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.15 earnings per share. Analysts expect that The AZEK Company Inc. will post 0.83 earnings per share for the current year.

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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