BMO Capital Markets Raises AZEK (NYSE:AZEK) Price Target to $49.00

AZEK (NYSE:AZEK) had its price target hoisted by BMO Capital Markets from $46.00 to $49.00 in a research report released on Tuesday, Benzinga reports. BMO Capital Markets currently has a market perform rating on the stock.

AZEK has been the subject of a number of other reports. UBS Group cut their price objective on AZEK from $47.00 to $43.00 and set a “neutral” rating for the company in a research note on Thursday, August 8th. JPMorgan Chase & Co. reduced their price objective on shares of AZEK from $52.00 to $48.00 and set an “overweight” rating for the company in a research note on Tuesday, August 13th. Stifel Nicolaus decreased their price objective on shares of AZEK from $52.00 to $50.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Royal Bank of Canada dropped their target price on shares of AZEK from $49.00 to $46.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Finally, The Goldman Sachs Group decreased their price target on AZEK from $56.00 to $50.00 and set a “buy” rating on the stock in a report on Wednesday, July 10th. Six analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, AZEK presently has a consensus rating of “Moderate Buy” and an average target price of $48.12.

AZEK Stock Up 0.9 %

AZEK opened at $42.61 on Tuesday. The firm’s 50 day simple moving average is $43.68 and its two-hundred day simple moving average is $44.35. The company has a market capitalization of $6.20 billion, a PE ratio of 41.77, a PEG ratio of 1.10 and a beta of 1.88. AZEK has a 1-year low of $25.03 and a 1-year high of $50.78. The company has a current ratio of 3.07, a quick ratio of 2.11 and a debt-to-equity ratio of 0.41.

AZEK (NYSE:AZEK) last announced its earnings results on Wednesday, August 7th. The company reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.06. AZEK had a return on equity of 13.38% and a net margin of 11.35%. The company had revenue of $434.40 million for the quarter, compared to analysts’ expectations of $396.89 million. During the same period last year, the firm earned $0.29 EPS. AZEK’s revenue for the quarter was up 12.1% compared to the same quarter last year. As a group, equities analysts forecast that AZEK will post 1.05 EPS for the current year.

Insider Activity

In other AZEK news, Director Pamela J. Edwards purchased 600 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were bought at an average price of $41.70 per share, with a total value of $25,020.00. Following the completion of the purchase, the director now directly owns 8,708 shares in the company, valued at $363,123.60. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, Director Pamela J. Edwards acquired 600 shares of the firm’s stock in a transaction on Thursday, August 15th. The shares were acquired at an average cost of $41.70 per share, for a total transaction of $25,020.00. Following the completion of the transaction, the director now directly owns 8,708 shares in the company, valued at approximately $363,123.60. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jesse G. Singh sold 20,000 shares of AZEK stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $41.47, for a total value of $829,400.00. Following the completion of the transaction, the chief executive officer now owns 186,705 shares of the company’s stock, valued at approximately $7,742,656.35. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 3.10% of the company’s stock.

Institutional Investors Weigh In On AZEK

Hedge funds and other institutional investors have recently made changes to their positions in the company. Lecap Asset Management Ltd. grew its holdings in AZEK by 16.3% during the 3rd quarter. Lecap Asset Management Ltd. now owns 47,308 shares of the company’s stock valued at $2,214,000 after purchasing an additional 6,615 shares during the last quarter. Private Advisor Group LLC purchased a new position in shares of AZEK during the third quarter valued at approximately $243,000. Raymond James & Associates grew its stake in shares of AZEK by 6.4% during the third quarter. Raymond James & Associates now owns 129,371 shares of the company’s stock valued at $6,055,000 after buying an additional 7,748 shares during the last quarter. Blue Trust Inc. raised its holdings in shares of AZEK by 106.4% in the third quarter. Blue Trust Inc. now owns 931 shares of the company’s stock worth $44,000 after buying an additional 480 shares during the period. Finally, Creative Planning raised its holdings in shares of AZEK by 6.6% in the third quarter. Creative Planning now owns 6,987 shares of the company’s stock worth $327,000 after buying an additional 430 shares during the period. 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.