AZEK (NYSE:AZEK) Posts Quarterly Earnings Results, Beats Expectations By $0.03 EPS

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

AZEK Stock Down 1.0 %

Shares of NYSE AZEK traded down $0.49 during midday trading on Tuesday, reaching $50.33. 2,194,224 shares of the company’s stock were exchanged, compared to its average volume of 1,524,378. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.14 and a current ratio of 2.17. AZEK has a 52-week low of $35.48 and a 52-week high of $54.91. The business’s fifty day moving average price is $50.37 and its two-hundred day moving average price is $46.25. The stock has a market capitalization of $7.20 billion, a PE ratio of 48.39, a price-to-earnings-growth ratio of 2.23 and a beta of 1.94.

Insider Activity at AZEK

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

Analyst Upgrades and Downgrades

AZEK has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. increased their price target on shares of AZEK from $48.00 to $58.00 and gave the stock an “overweight” rating in a research note on Monday, November 25th. Benchmark reaffirmed a “buy” rating and issued a $55.00 target price on shares of AZEK in a research report on Thursday, November 21st. BMO Capital Markets lifted their target price on AZEK from $49.00 to $51.00 and gave the company a “market perform” rating in a report on Wednesday, November 20th. Robert W. Baird upped their price target on AZEK from $52.00 to $54.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 20th. Finally, Truist Financial lifted their price objective on AZEK from $52.00 to $57.00 and gave the company a “buy” rating in a research note on Wednesday, November 20th. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, AZEK presently has a consensus rating of “Moderate Buy” and a consensus price target 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.