AZEK (NYSE:AZEK – Get Rating) updated its fourth quarter earnings guidance on Thursday. The company provided earnings per share guidance of $0.15-0.19 for the period, compared to the consensus earnings per share estimate of $0.30. The company issued revenue guidance of $276-302 million, compared to the consensus revenue estimate of $361.24 million. AZEK also updated its FY 2022 guidance to $0.95-$1.01 EPS.
Analysts Set New Price Targets
Several research firms recently commented on AZEK. Stephens set a $20.00 price target on AZEK in a research report on Monday, June 20th. Loop Capital lowered AZEK from a buy rating to a hold rating and reduced their price target for the stock from $56.00 to $25.00 in a research report on Monday, April 25th. Barclays reduced their price target on AZEK from $29.00 to $28.00 and set an overweight rating on the stock in a research report on Thursday, July 14th. Truist Financial reduced their price target on AZEK from $34.00 to $30.00 and set a buy rating on the stock in a research report on Thursday, June 16th. Finally, The Goldman Sachs Group lowered AZEK from a conviction-buy rating to a buy rating and set a $23.00 price target on the stock. in a research report on Wednesday, July 13th. One equities research analyst has rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, AZEK has an average rating of Moderate Buy and an average price target of $29.80.
AZEK Price Performance
Shares of AZEK stock traded up $1.04 during trading on Friday, hitting $21.45. The stock had a trading volume of 1,970,386 shares, compared to its average volume of 1,751,979. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.00 and a quick ratio of 1.28. The firm has a market cap of $3.33 billion, a P/E ratio of 27.86, a PEG ratio of 1.47 and a beta of 1.89. The business has a fifty day moving average of $19.14 and a two-hundred day moving average of $23.41. AZEK has a fifty-two week low of $15.52 and a fifty-two week high of $46.56.
Institutional Inflows and Outflows
Hedge funds have recently bought and sold shares of the company. PDT Partners LLC increased its position in AZEK by 117.8% in the 1st quarter. PDT Partners LLC now owns 66,300 shares of the company’s stock worth $1,647,000 after purchasing an additional 35,862 shares during the last quarter. Natixis Advisors L.P. acquired a new position in shares of AZEK during the 1st quarter valued at about $1,468,000. Brinker Capital Investments LLC increased its holdings in shares of AZEK by 15.4% during the 1st quarter. Brinker Capital Investments LLC now owns 24,819 shares of the company’s stock valued at $617,000 after acquiring an additional 3,320 shares during the last quarter. Bank of Montreal Can increased its holdings in shares of AZEK by 155.0% during the 1st quarter. Bank of Montreal Can now owns 22,887 shares of the company’s stock valued at $602,000 after acquiring an additional 13,910 shares during the last quarter. Finally, Captrust Financial Advisors boosted its stake in AZEK by 117.3% during the 1st quarter. Captrust Financial Advisors now owns 18,707 shares of the company’s stock valued at $465,000 after purchasing an additional 10,097 shares during the period. 96.53% of the stock is owned by institutional investors and hedge funds.
AZEK Company Profile
The AZEK Company Inc engages in designing, manufacturing, and selling building products for residential, commercial, and industrial markets in the United States. It operates through two segments: Residential and Commercial. The Residential segment designs and manufactures engineered outdoor living products, which includes decking, railing, trim and moulding, and accessories under the TimberTech, AZEK Exteriors, VERSATEX, and ULTRALOX brand name.
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