The AZEK Company Inc. (NYSE:AZEK) Receives $53.93 Average Price Target from Brokerages

The AZEK Company Inc. (NYSE:AZEK) has been given an average recommendation of “Hold” by the seventeen ratings firms that are covering the stock, Marketbeat.com reports. Ten equities research analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $53.93.

Several research analysts recently issued reports on the company. UBS Group cut their target price on AZEK from $55.00 to $51.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 7th. Barclays lifted their price objective on shares of AZEK from $53.00 to $57.00 and gave the stock an “overweight” rating in a report on Thursday, May 8th. Citigroup reiterated a “neutral” rating and issued a $51.50 target price (down previously from $61.00) on shares of AZEK in a report on Tuesday, March 25th. BMO Capital Markets boosted their price target on shares of AZEK from $54.00 to $57.00 and gave the stock a “market perform” rating in a report on Monday, March 24th. Finally, Wolfe Research reaffirmed a “peer perform” rating on shares of AZEK in a research report on Wednesday, March 26th.

AZEK Stock Down 1.8%

Shares of NYSE AZEK opened at $49.91 on Friday. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.56 and a quick ratio of 1.19. The company has a 50-day moving average price of $47.90 and a 200-day moving average price of $48.47. The stock has a market capitalization of $7.18 billion, a P/E ratio of 50.41, a P/E/G ratio of 1.91 and a beta of 1.86. AZEK has a 1 year low of $35.48 and a 1 year high of $54.91.

AZEK (NYSE:AZEK) last released its quarterly earnings results on Tuesday, May 6th. The company reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.44 by $0.01. The business had revenue of $452.23 million during the quarter, compared to the consensus estimate of $444.75 million. AZEK had a return on equity of 13.47% and a net margin of 9.85%. The company’s quarterly revenue was up 8.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.39 EPS. On average, equities research analysts forecast that AZEK will post 1.34 EPS for the current fiscal year.

Insiders Place Their Bets

In other AZEK news, CEO Jesse G. Singh sold 15,000 shares of the stock in a transaction on Monday, March 10th. The stock was sold at an average price of $41.03, for a total transaction of $615,450.00. Following the sale, the chief executive officer now owns 868,765 shares in the company, valued at $35,645,427.95. This represents a 1.70% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 3.20% of the company’s stock.

Institutional Trading of AZEK

A number of institutional investors have recently added to or reduced their stakes in the stock. Axiom Investors LLC DE increased its position in shares of AZEK by 5.1% during the first quarter. Axiom Investors LLC DE now owns 142,120 shares of the company’s stock valued at $6,948,000 after buying an additional 6,905 shares during the period. Dynamic Technology Lab Private Ltd purchased a new stake in AZEK in the 1st quarter worth approximately $390,000. Pentwater Capital Management LP purchased a new stake in AZEK in the 1st quarter worth approximately $75,381,000. Polar Asset Management Partners Inc. boosted its holdings in AZEK by 57.7% in the 1st quarter. Polar Asset Management Partners Inc. now owns 148,355 shares of the company’s stock valued at $7,253,000 after purchasing an additional 54,255 shares during the period. Finally, Millennium Management LLC increased its holdings in shares of AZEK by 217.3% in the first quarter. Millennium Management LLC now owns 2,021,778 shares of the company’s stock worth $98,845,000 after purchasing an additional 1,384,667 shares during the period. Hedge funds and other institutional investors own 97.44% of the company’s stock.

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.