The AZEK Company Inc. to Post FY2024 Earnings of $1.06 Per Share, William Blair Forecasts (NYSE:AZEK)

The AZEK Company Inc. (NYSE:AZEK) – Equities researchers at William Blair increased their FY2024 earnings per share (EPS) estimates for shares of AZEK in a note issued to investors on Tuesday, April 16th. William Blair analyst R. Merkel now forecasts that the company will post earnings of $1.06 per share for the year, up from their previous estimate of $0.99. The consensus estimate for AZEK’s current full-year earnings is $1.02 per share.

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, beating the consensus estimate of $0.03 by $0.05. The firm had revenue of $240.44 million for 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%.

Other equities research analysts also recently issued research reports about the company. BMO Capital Markets upped their price target on AZEK from $39.00 to $46.00 and gave the stock an “outperform” rating in a report on Thursday, February 8th. B. Riley upped 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. Barclays upped 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 upped 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. Finally, Truist Financial upped their price objective on AZEK from $40.00 to $48.00 and gave the stock a “buy” rating in a research report on Wednesday, February 7th. Four investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $43.45.

AZEK Price Performance

Shares of NYSE AZEK opened at $45.28 on Friday. The stock’s 50-day moving average is $47.78 and its two-hundred day moving average is $38.43. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.99 and a quick ratio of 1.67. AZEK has a 1-year low of $23.08 and a 1-year high of $50.78. The company has a market cap of $6.69 billion, a price-to-earnings ratio of 57.32, a price-to-earnings-growth ratio of 1.49 and a beta of 1.92.

Insiders Place Their Bets

In other AZEK news, 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 completion of the sale, the insider now directly owns 23,544 shares of the company’s stock, valued at approximately $1,164,721.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, 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 completion of the transaction, the insider now directly owns 23,544 shares of the company’s stock, valued at approximately $1,164,721.68. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Jonathan Skelly sold 10,000 shares of the stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $46.78, for a total value of $467,800.00. Following the transaction, the insider now directly owns 180,784 shares of the company’s stock, valued at $8,457,075.52. The disclosure for this sale can be found here. In the last ninety days, insiders sold 130,431 shares of company stock valued at $6,356,622. 3.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On AZEK

A number of large investors have recently modified their holdings of AZEK. Quadrant Capital Group LLC raised its stake in shares of AZEK by 45.9% during the 4th quarter. Quadrant Capital Group LLC now owns 728 shares of the company’s stock worth $28,000 after buying an additional 229 shares in the last quarter. Tower Research Capital LLC TRC increased its stake in AZEK by 726.0% in the 1st quarter. Tower Research Capital LLC TRC now owns 1,206 shares of the company’s stock valued at $29,000 after purchasing an additional 1,060 shares in the last quarter. BluePath Capital Management LLC purchased a new position in AZEK in the 3rd quarter valued at approximately $31,000. Principal Securities Inc. purchased a new position in AZEK in the 4th quarter valued at approximately $44,000. Finally, Covestor Ltd increased its stake in AZEK by 1,441.8% in the 1st quarter. Covestor Ltd now owns 2,544 shares of the company’s stock valued at $63,000 after purchasing an additional 2,379 shares in the last quarter. 97.44% of the stock is owned by hedge funds and other institutional investors.

AZEK Company Profile

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.