AZEK (NYSE:AZEK) Price Target Raised to $50.00

AZEK (NYSE:AZEKFree Report) had its target price increased by Stephens from $40.00 to $50.00 in a research note issued to investors on Wednesday, Benzinga reports. They currently have an overweight rating on the stock.

A number of other research analysts also recently commented on the stock. Deutsche Bank Aktiengesellschaft reaffirmed a hold rating and set a $37.00 price objective (down previously from $38.00) on shares of AZEK in a research note on Friday, December 8th. Stifel Nicolaus upped their price objective on shares of AZEK from $38.00 to $44.00 and gave the company a buy rating in a research note on Tuesday, December 19th. Wolfe Research began coverage on shares of AZEK in a research note on Tuesday, December 12th. They set an outperform rating and a $43.00 price objective for the company. Truist Financial upped their price objective on shares of AZEK from $35.00 to $40.00 and gave the company a buy rating in a research note on Wednesday, November 29th. Finally, TheStreet upgraded AZEK from a c+ rating to a b- rating in a report on Wednesday, January 31st. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, AZEK has an average rating of Moderate Buy and an average target price of $39.72.

Check Out Our Latest Report on AZEK

AZEK Trading Down 1.6 %

Shares of AZEK stock opened at $45.25 on Wednesday. The firm has a 50-day moving average price of $37.92 and a 200 day moving average price of $33.03. AZEK has a twelve month low of $21.34 and a twelve month high of $46.42. The company has a market capitalization of $6.68 billion, a price-to-earnings ratio of 57.28, a PEG ratio of 1.78 and a beta of 1.87. The company has a current ratio of 2.99, a quick ratio of 1.85 and a debt-to-equity ratio of 0.43.

AZEK (NYSE:AZEKGet Free Report) last announced its earnings results on Tuesday, November 28th. The company reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.07. AZEK had a net margin of 8.57% and a return on equity of 9.61%. The firm had revenue of $388.81 million during the quarter, compared to the consensus estimate of $368.68 million. During the same quarter in the previous year, the company posted $0.15 EPS. The firm’s revenue for the quarter was up 27.6% on a year-over-year basis. Research analysts forecast that AZEK will post 0.86 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Jesse G. Singh sold 13,000 shares of the stock in a transaction that occurred on Wednesday, January 10th. The stock was sold at an average price of $37.23, for a total transaction of $483,990.00. Following the completion of the transaction, the chief executive officer now directly owns 1,227,444 shares in the company, valued at approximately $45,697,740.12. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, insider Jonathan Skelly sold 9,000 shares of the stock in a transaction that occurred on Wednesday, December 20th. The stock was sold at an average price of $38.75, for a total transaction of $348,750.00. Following the completion of the transaction, the insider now directly owns 190,784 shares in the company, valued at approximately $7,392,880. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Jesse G. Singh sold 13,000 shares of the stock in a transaction that occurred on Wednesday, January 10th. The shares were sold at an average price of $37.23, for a total value of $483,990.00. Following the transaction, the chief executive officer now owns 1,227,444 shares of the company’s stock, valued at $45,697,740.12. The disclosure for this sale can be found here. Insiders sold a total of 35,000 shares of company stock worth $1,285,010 in the last 90 days. 3.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On AZEK

Institutional investors and hedge funds have recently made changes to their positions in the company. Quadrant Capital Group LLC raised its position in shares of AZEK by 45.9% during the 4th quarter. Quadrant Capital Group LLC now owns 728 shares of the company’s stock valued at $28,000 after acquiring an additional 229 shares in the last quarter. BluePath Capital Management LLC acquired a new stake in shares of AZEK during the 3rd quarter valued at approximately $31,000. Principal Securities Inc. acquired a new stake in shares of AZEK during the 4th quarter valued at approximately $44,000. Tower Research Capital LLC TRC raised its position in shares of AZEK by 726.0% during the 1st quarter. Tower Research Capital LLC TRC now owns 1,206 shares of the company’s stock valued at $29,000 after acquiring an additional 1,060 shares in the last quarter. Finally, Pinebridge Investments L.P. acquired a new stake in shares of AZEK during the 2nd quarter valued at approximately $40,000.

AZEK Company Profile

(Get Free Report)

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.

Further Reading

Analyst Recommendations for AZEK (NYSE:AZEK)

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