The AZEK Company Inc. (NYSE:AZEK) Forecasted to Post Q2 2024 Earnings of $0.34 Per Share

The AZEK Company Inc. (NYSE:AZEK) – Stock analysts at William Blair raised their Q2 2024 earnings per share estimates for AZEK in a report released on Tuesday, April 16th. William Blair analyst R. Merkel now forecasts that the company will post earnings per share of $0.34 for the quarter, up from their previous forecast of $0.31. The consensus estimate for AZEK’s current full-year earnings is $1.02 per share. William Blair also issued estimates for AZEK’s Q3 2024 earnings at $0.30 EPS, Q4 2024 earnings at $0.26 EPS and FY2025 earnings at $1.20 EPS.

A number of other brokerages also recently issued reports on AZEK. Stephens raised their price objective on AZEK from $40.00 to $50.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 7th. Barclays raised their price objective on AZEK from $50.00 to $58.00 and gave the stock an “overweight” rating in a research report on Thursday, April 4th. Robert W. Baird raised their price objective on AZEK from $52.00 to $60.00 and gave the stock an “outperform” rating in a research report on Monday, April 8th. B. Riley raised their price objective on AZEK from $40.00 to $50.00 and gave the stock a “buy” rating in a research report on Wednesday, February 7th. Finally, Citigroup lifted their target price on AZEK from $46.00 to $50.00 and gave the stock a “neutral” rating in a report on Friday, April 5th. Four investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $44.11.

AZEK Price Performance

AZEK stock opened at $44.71 on Thursday. The company has a current ratio of 2.99, a quick ratio of 1.67 and a debt-to-equity ratio of 0.43. The company has a market capitalization of $6.60 billion, a PE ratio of 56.59, a P/E/G ratio of 1.49 and a beta of 1.92. AZEK has a 12 month low of $23.08 and a 12 month high of $50.78. The stock has a 50-day moving average price of $47.77 and a two-hundred day moving average price of $38.54.

AZEK (NYSE:AZEK) last posted its earnings results on Tuesday, February 6th. The company reported $0.08 EPS for the quarter, beating the consensus estimate of $0.03 by $0.05. The firm had revenue of $240.44 million during the quarter, compared to the consensus estimate of $234.12 million. AZEK had a return on equity of 9.61% and a net margin of 8.57%.

Institutional Trading of AZEK

Several hedge funds have recently made changes to their positions in AZEK. Redwood Investments LLC bought a new stake in shares of AZEK during the 4th quarter valued at $2,893,000. Lecap Asset Management Ltd. bought a new stake in shares of AZEK during the 4th quarter valued at $1,134,000. Sherbrooke Park Advisers LLC raised its stake in shares of AZEK by 62.8% during the 3rd quarter. Sherbrooke Park Advisers LLC now owns 42,923 shares of the company’s stock valued at $1,277,000 after purchasing an additional 16,565 shares during the period. Vanguard Group Inc. raised its stake in shares of AZEK by 7.3% during the 3rd quarter. Vanguard Group Inc. now owns 13,012,414 shares of the company’s stock valued at $386,989,000 after purchasing an additional 881,697 shares during the period. Finally, Envestnet Portfolio Solutions Inc. bought a new stake in shares of AZEK during the 3rd quarter valued at $1,731,000. 97.44% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CEO Jesse G. Singh sold 13,000 shares of AZEK stock in a transaction on Monday, February 12th. The stock was sold at an average price of $45.34, for a total transaction of $589,420.00. Following the sale, the chief executive officer now directly owns 1,184,444 shares in the company, valued at $53,702,690.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other AZEK news, insider Michelle A. Kasson sold 94,431 shares of the business’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $49.47, for a total value of $4,671,501.57. Following the sale, the insider now directly owns 23,544 shares in the company, valued at $1,164,721.68. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Jesse G. Singh sold 13,000 shares of the business’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $45.34, for a total value of $589,420.00. Following the completion of the sale, the chief executive officer now owns 1,184,444 shares in the company, valued at $53,702,690.96. The disclosure for this sale can be found here. Over the last three months, insiders have sold 130,431 shares of company stock worth $6,356,622. 3.10% of the stock is owned by company insiders.

About AZEK

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.