AZEK (NYSE:AZEK) Sets New 1-Year High at $50.75

The AZEK Company Inc. (NYSE:AZEK)’s stock price reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $50.75 and last traded at $50.54, with a volume of 243867 shares changing hands. The stock had previously closed at $49.83.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on AZEK shares. Wolfe Research assumed coverage on shares of AZEK in a research note on Tuesday, December 12th. They set an “outperform” rating and a $43.00 target price on the stock. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $37.00 price target (down from $38.00) on shares of AZEK in a report on Friday, December 8th. B. Riley lifted their price objective on shares of AZEK from $40.00 to $50.00 and gave the company a “buy” rating in a research report on Wednesday, February 7th. Stifel Nicolaus raised their target price on shares of AZEK from $44.00 to $52.00 and gave the company a “buy” rating in a research note on Wednesday, February 7th. Finally, Royal Bank of Canada upped their target price on shares of AZEK from $43.00 to $49.00 and gave the company an “outperform” rating in a research report on Wednesday, February 7th. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $39.72.

AZEK Stock Performance

The company has a debt-to-equity ratio of 0.43, a current ratio of 2.99 and a quick ratio of 1.67. The company has a market capitalization of $7.42 billion, a price-to-earnings ratio of 63.10, a price-to-earnings-growth ratio of 1.62 and a beta of 1.92. The firm has a fifty day simple moving average of $44.96 and a 200 day simple moving average of $36.52.

AZEK (NYSE:AZEK) last posted its quarterly earnings data on Tuesday, February 6th. The company reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.05. The company had revenue of $240.44 million for the quarter, compared to analysts’ expectations of $234.12 million. AZEK had a return on equity of 9.61% and a net margin of 8.57%. On average, analysts anticipate that The AZEK Company Inc. will post 1.02 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Michelle A. Kasson sold 94,431 shares of AZEK stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $49.47, for a total transaction of $4,671,501.57. Following the transaction, the insider now owns 23,544 shares in the company, valued at $1,164,721.68. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other AZEK news, insider Jonathan Skelly sold 10,000 shares of AZEK stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $46.78, for a total transaction of $467,800.00. Following the completion of the sale, the insider now directly owns 180,784 shares in the company, valued at $8,457,075.52. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Michelle A. Kasson sold 94,431 shares of the stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $49.47, for a total transaction of $4,671,501.57. Following the transaction, the insider now directly owns 23,544 shares of the company’s stock, valued at approximately $1,164,721.68. The disclosure for this sale can be found here. Insiders sold 130,431 shares of company stock worth $6,212,712 over the last ninety days. Corporate insiders own 3.10% of the company’s stock.

Institutional Investors Weigh In On AZEK

Several institutional investors and hedge funds have recently modified their holdings of AZEK. PNC Financial Services Group Inc. increased its stake in AZEK by 35.2% during the first quarter. PNC Financial Services Group Inc. now owns 11,990 shares of the company’s stock worth $299,000 after purchasing an additional 3,124 shares during the period. Natixis Advisors L.P. purchased a new stake in shares of AZEK during the 1st quarter worth $1,468,000. Bank of Montreal Can grew its stake in shares of AZEK by 155.0% during the first quarter. Bank of Montreal Can now owns 22,887 shares of the company’s stock worth $602,000 after purchasing an additional 13,910 shares in the last quarter. MetLife Investment Management LLC purchased a new position in AZEK in the first quarter valued at $124,000. Finally, Dimensional Fund Advisors LP raised its stake in AZEK by 113.5% in the first quarter. Dimensional Fund Advisors LP now owns 724,014 shares of the company’s stock valued at $17,989,000 after buying an additional 384,936 shares in the last quarter. 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.