The AZEK Company Inc. to Post Q2 2024 Earnings of $0.34 Per Share, B. Riley Forecasts (NYSE:AZEK)

The AZEK Company Inc. (NYSE:AZEKFree Report) – Stock analysts at B. Riley boosted their Q2 2024 earnings estimates for AZEK in a research note issued to investors on Wednesday, February 7th. B. Riley analyst A. Rygiel now expects that the company will earn $0.34 per share for the quarter, up from their prior estimate of $0.26. B. Riley currently has a “Buy” rating and a $50.00 target price on the stock. The consensus estimate for AZEK’s current full-year earnings is $0.83 per share. B. Riley also issued estimates for AZEK’s Q3 2024 earnings at $0.33 EPS and FY2025 earnings at $1.13 EPS.

Several other brokerages have also commented on AZEK. Stifel Nicolaus boosted their price objective on AZEK from $44.00 to $52.00 and gave the stock a “buy” rating in a report on Wednesday. Wolfe Research began coverage on shares of AZEK in a report on Tuesday, December 12th. They issued an “outperform” rating and a $43.00 price target on the stock. Royal Bank of Canada lifted their price objective on shares of AZEK from $43.00 to $49.00 and gave the stock an “outperform” rating in a report on Wednesday. Truist Financial upped their target price on shares of AZEK from $40.00 to $48.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, BMO Capital Markets raised their price target on AZEK from $39.00 to $46.00 and gave the company an “outperform” rating in a research report on Thursday. Five analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, AZEK presently has an average rating of “Moderate Buy” and a consensus price target of $39.21.

View Our Latest Research Report on AZEK

AZEK Price Performance

AZEK stock opened at $45.97 on Friday. The stock 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 quick ratio of 1.85, a current ratio of 2.99 and a debt-to-equity ratio of 0.41. The business has a 50-day simple moving average of $37.72 and a 200 day simple moving average of $32.91. AZEK has a 52 week low of $21.34 and a 52 week high of $46.42.

AZEK (NYSE:AZEKGet Free Report) last announced its quarterly earnings results on Tuesday, November 28th. The company reported $0.36 EPS for the quarter, beating the consensus estimate of $0.29 by $0.07. The firm had revenue of $388.81 million during the quarter, compared to the consensus estimate of $368.68 million. AZEK had a net margin of 8.57% and a return on equity of 9.48%. The business’s quarterly revenue was up 27.6% compared to the same quarter last year. During the same period last year, the firm earned $0.15 EPS.

Insider Buying and Selling at AZEK

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

Institutional Investors Weigh In On AZEK

Institutional investors and hedge funds have recently modified their holdings of the stock. Bessemer Group Inc. boosted its position in shares of AZEK by 5.2% during the second 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 grew its position 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 worth $85,005,000 after buying an additional 192,480 shares during the period. 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 worth $2,098,000 after acquiring an additional 25,305 shares in the last quarter. Congress Asset Management Co. MA lifted its position in AZEK by 7.0% during the 2nd quarter. Congress Asset Management Co. MA now owns 120,179 shares of the company’s stock valued at $3,640,000 after acquiring an additional 7,886 shares during the period. Finally, Arizona State Retirement System boosted its stake in AZEK by 3.2% during the second quarter. Arizona State Retirement System now owns 33,870 shares of the company’s stock worth $1,026,000 after acquiring an additional 1,047 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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Earnings History and Estimates for AZEK (NYSE:AZEK)

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