AZEK (NYSE:AZEK) Issues Quarterly Earnings Results

AZEK (NYSE:AZEK) posted its earnings results on Tuesday. The company reported $0.17 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.03, Zacks reports. AZEK had a net margin of 10.68% and a return on equity of 12.68%.

AZEK Stock Down 1.0 %

Shares of NYSE AZEK traded down $0.49 during trading on Tuesday, reaching $50.33. 2,194,224 shares of the stock were exchanged, compared to its average volume of 1,524,378. The business’s 50-day moving average price is $50.37 and its 200 day moving average price is $46.25. AZEK has a twelve month low of $35.48 and a twelve month high of $54.91. The company has a quick ratio of 1.14, a current ratio of 2.17 and a debt-to-equity ratio of 0.32. The company has a market capitalization of $7.20 billion, a price-to-earnings ratio of 48.39, a price-to-earnings-growth ratio of 2.23 and a beta of 1.94.

Insider Transactions at AZEK

In other AZEK news, CEO Jesse G. Singh sold 20,000 shares of the business’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $53.32, for a total transaction of $1,066,400.00. Following the completion of the sale, the chief executive officer now owns 923,765 shares in the company, valued at $49,255,149.80. The trade was a 2.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CMO Samara Toole sold 1,709 shares of the business’s stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $53.00, for a total transaction of $90,577.00. Following the sale, the chief marketing officer now owns 16,632 shares of the company’s stock, valued at approximately $881,496. The trade was a 9.32 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 41,322 shares of company stock valued at $2,039,170. Corporate insiders own 3.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on AZEK. Benchmark reiterated a “buy” rating and set a $55.00 price target on shares of AZEK in a report on Thursday, November 21st. Truist Financial lifted their price target on shares of AZEK from $52.00 to $57.00 and gave the stock a “buy” rating in a report on Wednesday, November 20th. JPMorgan Chase & Co. lifted their price target on shares of AZEK from $48.00 to $58.00 and gave the stock an “overweight” rating in a report on Monday, November 25th. The Goldman Sachs Group lifted their price target on shares of AZEK from $52.00 to $59.00 and gave the stock a “buy” rating in a report on Thursday, December 12th. Finally, BMO Capital Markets lifted their price target on shares of AZEK from $49.00 to $51.00 and gave the stock a “market perform” rating in a report on Wednesday, November 20th. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, AZEK currently has a consensus rating of “Moderate Buy” and an average target price of $53.73.

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.