AZEK (NYSE:AZEK) PT Lowered to $58.00 at Robert W. Baird

AZEK (NYSE:AZEK) had its price target decreased by equities research analysts at Robert W. Baird from $60.00 to $58.00 in a report issued on Thursday, Benzinga reports. The firm presently has an “outperform” rating on the stock. Robert W. Baird’s price objective would indicate a potential upside of 29.15% from the company’s previous close.

Several other analysts also recently weighed in on AZEK. Barclays raised their target price on AZEK from $50.00 to $58.00 and gave the company an “overweight” rating in a research note on Thursday, April 4th. Royal Bank of Canada increased their target price on AZEK from $43.00 to $49.00 and gave the company an “outperform” rating in a research note on Wednesday, February 7th. Citigroup lifted their price target on shares of AZEK from $46.00 to $50.00 and gave the stock a “neutral” rating in a research note on Friday, April 5th. Truist Financial increased their price objective on shares of AZEK from $40.00 to $48.00 and gave the company a “buy” rating in a research note on Wednesday, February 7th. Finally, TheStreet raised shares of AZEK from a “c+” rating to a “b-” rating in a research report on Wednesday, January 31st. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $44.83.

AZEK Stock Performance

Shares of NYSE:AZEK opened at $44.91 on Thursday. The company has a market cap of $6.63 billion, a P/E ratio of 56.85, a PEG ratio of 1.50 and a beta of 1.93. AZEK has a one year low of $23.08 and a one year high of $50.78. The business’s 50-day simple moving average is $47.78 and its 200 day simple moving average is $40.28. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.67 and a current ratio of 2.99.

AZEK (NYSE:AZEK) last announced its earnings results on Tuesday, February 6th. The company reported $0.08 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.05. AZEK had a net margin of 8.57% and a return on equity of 9.61%. The business had revenue of $240.44 million during the quarter, compared to the consensus estimate of $234.12 million. On average, sell-side analysts forecast that AZEK will post 1.03 earnings per share for the current fiscal year.

Insider Activity at AZEK

In other news, insider Jonathan Skelly sold 10,000 shares of AZEK stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $46.78, for a total transaction of $467,800.00. Following the transaction, the insider now directly owns 180,784 shares in the company, valued at approximately $8,457,075.52. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, CEO Jesse G. Singh sold 13,000 shares of the firm’s stock in a transaction on Wednesday, April 10th. The stock was sold at an average price of $48.30, for a total transaction of $627,900.00. Following the completion of the sale, the chief executive officer now directly owns 1,083,444 shares of the company’s stock, valued at approximately $52,330,345.20. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Jonathan Skelly sold 10,000 shares of the business’s stock in a transaction 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 sale, the insider now directly owns 180,784 shares in the company, valued at $8,457,075.52. The disclosure for this sale can be found here. Insiders have sold 130,431 shares of company stock worth $6,356,622 over the last quarter. 3.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On AZEK

Institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in AZEK by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 13,069,026 shares of the company’s stock valued at $499,890,000 after buying an additional 56,612 shares during the period. Wellington Management Group LLP lifted its position in shares of AZEK by 0.3% in the fourth quarter. Wellington Management Group LLP now owns 12,152,986 shares of the company’s stock worth $464,852,000 after purchasing an additional 42,132 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in shares of AZEK by 7.3% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 7,632,693 shares of the company’s stock worth $291,951,000 after purchasing an additional 516,523 shares during the period. Invesco Ltd. grew its position in AZEK by 46.3% during the third quarter. Invesco Ltd. now owns 2,697,856 shares of the company’s stock valued at $80,234,000 after purchasing an additional 853,656 shares in the last quarter. Finally, Loomis Sayles & Co. L P lifted its position in AZEK by 11.3% in the 3rd quarter. Loomis Sayles & Co. L P now owns 2,428,049 shares of the company’s stock worth $72,210,000 after buying an additional 246,212 shares in the last quarter. Hedge funds and other institutional investors own 97.44% of the company’s stock.

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.