FY2024 Earnings Forecast for The AZEK Company Inc. (NYSE:AZEK) Issued By DA Davidson

The AZEK Company Inc. (NYSE:AZEKFree Report) – Equities researchers at DA Davidson lifted their FY2024 earnings per share estimates for shares of AZEK in a note issued to investors on Wednesday, February 7th. DA Davidson analyst K. Yinger now expects that the company will post earnings per share of $1.03 for the year, up from their previous forecast of $0.79. The consensus estimate for AZEK’s current full-year earnings is $0.86 per share.

Several other equities research analysts have also recently weighed in on the company. Wolfe Research assumed coverage on AZEK in a report on Tuesday, December 12th. They issued an “outperform” rating and a $43.00 price objective for the company. BMO Capital Markets raised their price target on AZEK from $39.00 to $46.00 and gave the stock an “outperform” rating in a research note on Thursday. Stifel Nicolaus boosted their price objective on shares of AZEK from $44.00 to $52.00 and gave the company a “buy” rating in a research report on Wednesday. B. Riley raised their target price on shares of AZEK from $40.00 to $50.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, Royal Bank of Canada boosted their price target on shares of AZEK from $43.00 to $49.00 and gave the company an “outperform” rating in a research report on Wednesday. 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 data from MarketBeat.com, AZEK presently has an average rating of “Moderate Buy” and a consensus target price of $39.72.

View Our Latest Stock Analysis on AZEK

AZEK Stock Performance

AZEK stock opened at $45.25 on Friday. AZEK has a 1-year low of $21.34 and a 1-year high of $46.42. The firm has a market cap of $6.68 billion, a P/E ratio of 57.28, a P/E/G ratio of 1.78 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 0.43. The firm has a 50-day moving average of $37.92 and a 200-day moving average of $33.03.

AZEK (NYSE:AZEKGet Free Report) last released its quarterly earnings data on Tuesday, November 28th. The company reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.07. AZEK had a return on equity of 9.61% and a net margin of 8.57%. The firm had revenue of $388.81 million during the quarter, compared to analyst estimates of $368.68 million. During the same quarter in the prior year, the firm posted $0.15 earnings per share. The business’s quarterly revenue was up 27.6% compared to the same quarter last year.

Hedge Funds Weigh In On AZEK

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Quadrant Capital Group LLC raised its holdings in shares of AZEK by 45.9% during the fourth quarter. Quadrant Capital Group LLC now owns 728 shares of the company’s stock valued at $28,000 after purchasing an additional 229 shares during the last quarter. Tower Research Capital LLC TRC raised its stake in AZEK by 726.0% during the 1st quarter. Tower Research Capital LLC TRC now owns 1,206 shares of the company’s stock valued at $29,000 after buying an additional 1,060 shares during the last quarter. BluePath Capital Management LLC bought a new position in shares of AZEK during the 3rd quarter valued at $31,000. Pinebridge Investments L.P. purchased a new position in shares of AZEK in the 2nd quarter worth $40,000. Finally, Principal Securities Inc. purchased a new position in shares of AZEK in the 4th quarter worth $44,000.

Insider Transactions at AZEK

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

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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Earnings History and Estimates for AZEK (NYSE:AZEK)

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