B. Riley Raises AZEK (NYSE:AZEK) Price Target to $50.00

AZEK (NYSE:AZEKGet Free Report) had its price target increased by stock analysts at B. Riley from $40.00 to $50.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the stock. B. Riley’s price objective suggests a potential upside of 8.77% from the company’s previous close.

A number of other brokerages also recently issued reports on AZEK. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $37.00 price objective (down from $38.00) on shares of AZEK in a research report on Friday, December 8th. Barclays reduced their price target on AZEK from $41.00 to $37.00 and set an “overweight” rating on the stock in a report on Thursday, October 12th. Wolfe Research assumed coverage on AZEK in a report on Tuesday, December 12th. They issued an “outperform” rating and a $43.00 price target on the stock. BMO Capital Markets increased their price objective on AZEK from $37.00 to $39.00 and gave the stock an “outperform” rating in a research note on Thursday, November 30th. Finally, Royal Bank of Canada increased their target price on AZEK from $43.00 to $49.00 and gave the company an “outperform” rating in a research report on Wednesday. Five investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, AZEK currently has an average rating of “Moderate Buy” and an average target price of $39.21.

Check Out Our Latest Research Report on AZEK

AZEK Price Performance

Shares of AZEK stock opened at $45.97 on Wednesday. The stock has a 50 day moving average of $37.72 and a 200 day moving average of $32.91. AZEK has a 12 month low of $21.34 and a 12 month high of $46.42. The firm has a market cap of $6.79 billion, a PE 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.

AZEK (NYSE:AZEKGet Free Report) last issued its quarterly earnings data 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 return on equity of 9.48% and a net margin of 8.57%. The business had revenue of $388.81 million for the quarter, compared to the consensus estimate of $368.68 million. During the same period in the prior year, the business posted $0.15 earnings per share. The company’s quarterly revenue was up 27.6% compared to the same quarter last year. On average, research analysts expect that AZEK will post 0.83 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Jesse G. Singh sold 13,000 shares of the firm’s stock in a transaction on Monday, December 11th. The stock was 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 approximately $41,650,657.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other AZEK news, CEO Jesse G. Singh sold 13,000 shares of AZEK stock in a transaction dated Monday, December 11th. The stock was sold at an average price of $34.79, for a total transaction 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 approximately $41,650,657.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jonathan Skelly sold 9,000 shares of AZEK stock in a transaction dated 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 of the company’s stock, valued at approximately $7,392,880. The disclosure for this sale can be found here. Insiders sold 35,000 shares of company stock worth $1,285,010 in the last 90 days. Insiders own 3.10% of the company’s stock.

Hedge Funds Weigh In On AZEK

A number of institutional investors have recently modified their holdings of the stock. Bessemer Group Inc. increased its stake in shares of AZEK by 5.2% in the 2nd quarter. Bessemer Group Inc. now owns 177,294 shares of the company’s stock valued at $5,370,000 after purchasing an additional 8,690 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in shares of AZEK by 7.4% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 2,806,359 shares of the company’s stock valued at $85,005,000 after purchasing an additional 192,480 shares in the last quarter. Barclays PLC increased its stake in shares of AZEK by 57.6% in the 2nd quarter. Barclays PLC now owns 69,242 shares of the company’s stock valued at $2,098,000 after purchasing an additional 25,305 shares in the last quarter. Congress Asset Management Co. MA increased its stake in shares of AZEK by 7.0% in the 2nd quarter. Congress Asset Management Co. MA now owns 120,179 shares of the company’s stock valued at $3,640,000 after purchasing an additional 7,886 shares in the last quarter. Finally, Arizona State Retirement System increased its stake in shares of AZEK by 3.2% in the 2nd quarter. Arizona State Retirement System now owns 33,870 shares of the company’s stock valued at $1,026,000 after purchasing an additional 1,047 shares in the last quarter.

About AZEK

(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.

Further Reading

Analyst Recommendations for AZEK (NYSE:AZEK)

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