AZEK (NYSE:AZEK) Price Target Raised to $57.00

AZEK (NYSE:AZEK) had its target price boosted by investment analysts at BMO Capital Markets from $54.00 to $57.00 in a research note issued on Monday,Benzinga reports. The brokerage currently has a “market perform” rating on the stock. BMO Capital Markets’ price target points to a potential upside of 37.73% from the stock’s current price.

AZEK has been the subject of a number of other reports. The Goldman Sachs Group increased their target price on AZEK from $52.00 to $59.00 and gave the company a “buy” rating in a research report on Thursday, December 12th. JPMorgan Chase & Co. increased their price objective on shares of AZEK from $48.00 to $58.00 and gave the company an “overweight” rating in a research report on Monday, November 25th. Royal Bank of Canada boosted their target price on shares of AZEK from $50.00 to $58.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. Barclays increased their price target on shares of AZEK from $58.00 to $64.00 and gave the company an “overweight” rating in a report on Wednesday, December 11th. Finally, Robert W. Baird reissued a “neutral” rating and set a $53.00 price objective (down from $58.00) on shares of AZEK in a research note on Monday. Six equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, AZEK presently has a consensus rating of “Moderate Buy” and a consensus target price of $54.93.

AZEK Price Performance

Shares of NYSE:AZEK opened at $41.39 on Monday. The firm has a market cap of $5.95 billion, a price-to-earnings ratio of 41.80, a P/E/G ratio of 1.91 and a beta of 1.95. AZEK has a fifty-two week low of $35.48 and a fifty-two week high of $54.91. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.19 and a current ratio of 2.56. The firm has a fifty day moving average price of $47.32 and a 200 day moving average price of $47.18.

AZEK (NYSE:AZEK) last issued its earnings results on Tuesday, February 4th. The company reported $0.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.14 by $0.03. AZEK had a return on equity of 13.47% and a net margin of 9.85%. As a group, sell-side analysts expect that AZEK will post 1.34 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO Jesse G. Singh sold 15,000 shares of the company’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $41.03, for a total value of $615,450.00. Following the sale, the chief executive officer now owns 868,765 shares in the company, valued at $35,645,427.95. This represents a 1.70 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold 55,000 shares of company stock worth $2,518,624 in the last 90 days. Insiders own 3.20% of the company’s stock.

Institutional Trading of AZEK

A number of institutional investors and hedge funds have recently made changes to their positions in the business. GAMMA Investing LLC lifted its holdings in AZEK by 39.1% in the 4th quarter. GAMMA Investing LLC now owns 851 shares of the company’s stock valued at $40,000 after purchasing an additional 239 shares in the last quarter. Truist Financial Corp grew its holdings in AZEK by 1.6% in the 4th quarter. Truist Financial Corp now owns 16,706 shares of the company’s stock valued at $793,000 after buying an additional 255 shares in the last quarter. Investment House LLC increased its stake in shares of AZEK by 0.7% in the 4th quarter. Investment House LLC now owns 39,255 shares of the company’s stock worth $1,863,000 after acquiring an additional 290 shares during the last quarter. Federated Hermes Inc. increased its stake in shares of AZEK by 4.8% in the 4th quarter. Federated Hermes Inc. now owns 6,984 shares of the company’s stock worth $332,000 after acquiring an additional 318 shares during the last quarter. Finally, Smartleaf Asset Management LLC raised its holdings in shares of AZEK by 13.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 3,040 shares of the company’s stock worth $146,000 after acquiring an additional 352 shares during the period. 97.44% of the stock is currently owned by hedge funds and other institutional investors.

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.