AZEK (NYSE:AZEK) Price Target Cut to $52.00

AZEK (NYSE:AZEK) had its target price cut by Truist Financial from $57.00 to $52.00 in a research report sent to investors on Thursday, Benzinga reports. They currently have a buy rating on the stock.

AZEK has been the topic of several other research reports. Benchmark began coverage on AZEK in a research note on Friday, April 19th. They set a buy rating and a $55.00 price target on the stock. Citigroup dropped their price target on AZEK from $50.00 to $44.00 and set a neutral rating on the stock in a research note on Thursday, July 11th. Loop Capital dropped their price target on AZEK from $58.00 to $52.00 and set a buy rating on the stock in a research note on Thursday, July 11th. BMO Capital Markets downgraded AZEK from an outperform rating to a market perform rating and dropped their price target for the company from $53.00 to $50.00 in a research note on Tuesday, July 23rd. Finally, Robert W. Baird dropped their price target on AZEK from $60.00 to $58.00 and set an outperform rating on the stock in a research note on Thursday, May 9th. Six analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average target price of $46.50.

AZEK Stock Down 0.3 %

Shares of AZEK stock opened at $39.06 on Thursday. AZEK has a 1-year low of $25.03 and a 1-year high of $50.78. The stock’s fifty day moving average price is $43.59 and its 200 day moving average price is $45.41. The company has a debt-to-equity ratio of 0.42, a current ratio of 3.40 and a quick ratio of 2.21. The company has a market cap of $5.68 billion, a price-to-earnings ratio of 38.29, a price-to-earnings-growth ratio of 1.28 and a beta of 1.88.

AZEK (NYSE:AZEK) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.06. The business had revenue of $434.40 million for the quarter, compared to the consensus estimate of $396.89 million. AZEK had a return on equity of 12.02% and a net margin of 10.66%. The company’s quarterly revenue was up 12.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.29 EPS. On average, research analysts expect that AZEK will post 1.06 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Jesse G. Singh sold 13,000 shares of the company’s stock in a transaction dated Wednesday, July 10th. The stock was sold at an average price of $41.75, for a total value of $542,750.00. Following the completion of the transaction, the chief executive officer now owns 1,024,444 shares of the company’s stock, valued at approximately $42,770,537. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Jesse G. Singh sold 13,000 shares of the company’s stock in a transaction dated Wednesday, July 10th. The stock was sold at an average price of $41.75, for a total value of $542,750.00. Following the completion of the transaction, the chief executive officer now owns 1,024,444 shares of the company’s stock, valued at approximately $42,770,537. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jonathan Skelly sold 12,000 shares of the company’s stock in a transaction dated Tuesday, June 18th. The stock was sold at an average price of $46.72, for a total value of $560,640.00. Following the completion of the transaction, the insider now directly owns 190,134 shares of the company’s stock, valued at approximately $8,883,060.48. The disclosure for this sale can be found here. 3.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On AZEK

A number of hedge funds have recently made changes to their positions in AZEK. Quadrant Capital Group LLC raised its holdings in shares of AZEK by 45.9% during the fourth quarter. Quadrant Capital Group LLC now owns 728 shares of the company’s stock valued at $28,000 after acquiring an additional 229 shares during the last quarter. ORG Partners LLC acquired a new position in shares of AZEK during the first quarter valued at approximately $35,000. Venturi Wealth Management LLC raised its holdings in shares of AZEK by 58.9% during the first quarter. Venturi Wealth Management LLC now owns 707 shares of the company’s stock valued at $36,000 after acquiring an additional 262 shares during the last quarter. Whittier Trust Co. acquired a new position in shares of AZEK during the first quarter valued at approximately $37,000. Finally, Principal Securities Inc. acquired a new position in shares of AZEK during the fourth quarter valued at approximately $44,000. Institutional investors and hedge funds own 97.44% of the company’s stock.

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.