AZEK (NYSE:AZEK) Price Target Raised to $52.00

AZEK (NYSE:AZEKFree Report) had its target price lifted by Stifel Nicolaus from $44.00 to $52.00 in a research report released on Wednesday morning, Benzinga reports. They currently have a buy rating on the stock.

Several other research firms have also recently issued reports on AZEK. BMO Capital Markets boosted their target price on AZEK from $37.00 to $39.00 and gave the company an outperform rating in a research note on Thursday, November 30th. Stephens boosted their target price on AZEK from $40.00 to $50.00 and gave the company an overweight rating in a research note on Wednesday. Truist Financial upped their price target on AZEK from $40.00 to $48.00 and gave the stock a buy rating in a research note on Wednesday. B. Riley upped their price target on AZEK from $40.00 to $50.00 and gave the stock a buy rating in a research note on Wednesday. Finally, Wolfe Research began coverage on AZEK in a research note on Tuesday, December 12th. They issued an outperform rating and a $43.00 target price on the stock. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus price target of $39.72.

Get Our Latest Research Report on AZEK

AZEK Price Performance

AZEK opened at $45.26 on Wednesday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.85 and a current ratio of 2.99. AZEK has a 52-week low of $21.34 and a 52-week high of $46.42. The stock has a market capitalization of $6.68 billion, a PE ratio of 57.29 and a beta of 1.87. The stock’s 50 day moving average price is $37.92 and its 200-day moving average price is $33.01.

AZEK (NYSE:AZEKGet Free Report) last posted its earnings results on Tuesday, November 28th. The company reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.07. AZEK had a return on equity of 9.48% and a net margin of 8.57%. The firm had revenue of $388.81 million for the quarter, compared to analysts’ expectations of $368.68 million. During the same period in the previous year, the firm earned $0.15 earnings per share. The business’s revenue was up 27.6% compared to the same quarter last year. On average, equities research analysts predict that AZEK will post 0.83 EPS for the current year.

Insider Activity

In other AZEK news, CEO Jesse G. Singh sold 13,000 shares of the stock in a transaction dated Monday, December 11th. The stock was 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 of the company’s stock, valued at $41,650,657.58. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other AZEK news, CEO Jesse G. Singh sold 13,000 shares of the stock in a transaction dated Monday, December 11th. The stock was 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 of the company’s stock, valued at $41,650,657.58. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Jonathan Skelly sold 9,000 shares of the 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 completion of the transaction, the insider now directly owns 190,784 shares in the company, valued at approximately $7,392,880. The disclosure for this sale can be found here. Insiders have sold a total of 35,000 shares of company stock valued at $1,285,010 over the last ninety days. 3.10% of the stock is currently owned by corporate insiders.

Institutional Trading of AZEK

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. increased its position in AZEK by 7.3% in the third quarter. Vanguard Group Inc. now owns 13,012,414 shares of the company’s stock worth $386,989,000 after buying an additional 881,697 shares in the last quarter. Capital Research Global Investors increased its position in AZEK by 8.2% in the second quarter. Capital Research Global Investors now owns 12,606,728 shares of the company’s stock worth $381,858,000 after buying an additional 959,457 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in AZEK by 7.3% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 7,632,693 shares of the company’s stock worth $291,951,000 after buying an additional 516,523 shares in the last quarter. BlackRock Inc. increased its position in AZEK by 15.6% in the second quarter. BlackRock Inc. now owns 6,899,713 shares of the company’s stock worth $208,992,000 after buying an additional 929,341 shares in the last quarter. Finally, Morgan Stanley increased its position in AZEK by 272.4% in the fourth quarter. Morgan Stanley now owns 3,973,475 shares of the company’s stock worth $80,741,000 after buying an additional 2,906,460 shares in the last quarter.

About AZEK

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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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