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

AZEK (NYSE:AZEK) had its target price hoisted by BMO Capital Markets from $54.00 to $57.00 in a research note released on Monday,Benzinga reports. The brokerage currently has a market perform rating on the stock.

Other equities analysts also recently issued research reports about the stock. The Goldman Sachs Group increased their price target on shares of AZEK from $52.00 to $59.00 and gave the company a “buy” rating in a report on Thursday, December 12th. Robert W. Baird reaffirmed a “neutral” rating and issued a $53.00 target price (down from $58.00) on shares of AZEK in a report on Monday. Citigroup upgraded shares of AZEK from a “neutral” rating to a “buy” rating and lifted their price target for the company from $51.00 to $60.00 in a research report on Monday, January 6th. Royal Bank of Canada upped their price target on AZEK from $50.00 to $58.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. Finally, Barclays lifted their price objective on AZEK from $58.00 to $64.00 and gave the stock an “overweight” rating in a report on Wednesday, December 11th. Nine analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $54.32.

AZEK Stock Performance

NYSE AZEK opened at $48.96 on Monday. The stock has a market capitalization of $7.03 billion, a price-to-earnings ratio of 49.45, a PEG ratio of 1.91 and a beta of 1.95. The business’s 50 day moving average is $47.41 and its two-hundred day moving average is $47.30. AZEK has a 12-month low of $35.48 and a 12-month high of $54.91. The company has a current ratio of 2.56, a quick ratio of 1.19 and a debt-to-equity ratio of 0.31.

AZEK (NYSE:AZEK) last announced its quarterly earnings data on Tuesday, February 4th. The company reported $0.17 earnings per share for the quarter, topping analysts’ consensus estimates of $0.14 by $0.03. AZEK had a return on equity of 13.47% and a net margin of 9.85%. Research analysts expect that AZEK will post 1.34 EPS for the current year.

Insider Transactions at AZEK

In other news, CEO Jesse G. Singh sold 20,387 shares of AZEK stock in a transaction on Monday, February 10th. The stock was sold at an average price of $50.08, for a total value of $1,020,980.96. Following the completion of the sale, the chief executive officer now owns 883,765 shares of the company’s stock, valued at $44,258,951.20. The trade was a 2.25 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold a total of 55,000 shares of company stock worth $2,518,624 over the last ninety days. 3.20% of the stock is currently owned by corporate insiders.

Institutional Trading of AZEK

Hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in shares of AZEK by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 14,430,833 shares of the company’s stock worth $685,032,000 after acquiring an additional 54,725 shares during the period. Wellington Management Group LLP increased its position in AZEK by 33.8% during the third quarter. Wellington Management Group LLP now owns 14,224,410 shares of the company’s stock worth $665,702,000 after purchasing an additional 3,595,863 shares during the last quarter. FMR LLC raised its stake in AZEK by 80.7% during the fourth quarter. FMR LLC now owns 12,311,577 shares of the company’s stock worth $584,431,000 after purchasing an additional 5,499,986 shares during the period. Alliancebernstein L.P. boosted its holdings in shares of AZEK by 15.0% in the 4th quarter. Alliancebernstein L.P. now owns 3,294,619 shares of the company’s stock valued at $156,396,000 after purchasing an additional 429,574 shares during the last quarter. Finally, State Street Corp grew its stake in shares of AZEK by 1.9% during the 3rd quarter. State Street Corp now owns 2,451,483 shares of the company’s stock valued at $114,729,000 after buying an additional 45,774 shares during the period. 97.44% of the stock is owned by institutional investors and hedge funds.

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.