Q2 2024 EPS Estimates for The AZEK Company Inc. (NYSE:AZEK) Increased by Analyst

The AZEK Company Inc. (NYSE:AZEK) – William Blair raised their Q2 2024 earnings per share estimates for AZEK in a research report issued on Tuesday, April 16th. William Blair analyst R. Merkel now forecasts that the company will post earnings of $0.34 per share for the quarter, up from their previous estimate of $0.31. The consensus estimate for AZEK’s current full-year earnings is $1.02 per share. William Blair also issued estimates for AZEK’s Q3 2024 earnings at $0.30 EPS, Q4 2024 earnings at $0.26 EPS and FY2025 earnings at $1.20 EPS.

Several other research firms have also issued reports on AZEK. B. Riley boosted their price target on AZEK from $40.00 to $50.00 and gave the company a “buy” rating in a report on Wednesday, February 7th. Barclays boosted their price objective on AZEK from $50.00 to $58.00 and gave the company an “overweight” rating in a research report on Thursday, April 4th. TheStreet upgraded AZEK from a “c+” rating to a “b-” rating in a research report on Wednesday, January 31st. Truist Financial boosted their price objective on AZEK from $40.00 to $48.00 and gave the company a “buy” rating in a research report on Wednesday, February 7th. Finally, Stifel Nicolaus boosted their price objective on AZEK from $44.00 to $52.00 and gave the company a “buy” rating in a research report on Wednesday, February 7th. Four research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, AZEK has a consensus rating of “Moderate Buy” and a consensus target price of $44.11.

AZEK Stock Performance

NYSE:AZEK opened at $44.71 on Thursday. The stock has a 50-day simple moving average of $47.77 and a two-hundred day simple moving average of $38.54. AZEK has a 52-week low of $23.08 and a 52-week high of $50.78. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.67 and a current ratio of 2.99. The firm has a market capitalization of $6.60 billion, a PE ratio of 56.59, a P/E/G ratio of 1.49 and a beta of 1.92.

AZEK (NYSE:AZEK) last released its quarterly earnings results on Tuesday, February 6th. The company reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.05. AZEK had a return on equity of 9.61% and a net margin of 8.57%. The business had revenue of $240.44 million during the quarter, compared to analyst estimates of $234.12 million.

Hedge Funds Weigh In On AZEK

Several hedge funds have recently bought and sold shares of AZEK. PNC Financial Services Group Inc. increased its stake in AZEK by 35.2% in the first quarter. PNC Financial Services Group Inc. now owns 11,990 shares of the company’s stock worth $299,000 after purchasing an additional 3,124 shares during the period. Natixis Advisors L.P. purchased a new stake in AZEK in the first quarter worth $1,468,000. Bank of Montreal Can increased its stake in AZEK by 155.0% in the first quarter. Bank of Montreal Can now owns 22,887 shares of the company’s stock worth $602,000 after purchasing an additional 13,910 shares during the period. MetLife Investment Management LLC purchased a new stake in AZEK in the first quarter worth $124,000. Finally, Dimensional Fund Advisors LP increased its stake in AZEK by 113.5% in the first quarter. Dimensional Fund Advisors LP now owns 724,014 shares of the company’s stock worth $17,989,000 after purchasing an additional 384,936 shares during the period. Institutional investors own 97.44% of the company’s stock.

Insiders Place Their Bets

In other AZEK news, insider Jonathan Skelly sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $46.78, for a total transaction of $467,800.00. Following the sale, the insider now directly owns 180,784 shares of the company’s stock, valued at $8,457,075.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Jesse G. Singh sold 13,000 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $45.34, for a total transaction of $589,420.00. Following the transaction, the chief executive officer now owns 1,184,444 shares of the company’s stock, valued at $53,702,690.96. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Jonathan Skelly sold 10,000 shares of the stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $46.78, for a total value of $467,800.00. Following the completion of the sale, the insider now owns 180,784 shares in the company, valued at $8,457,075.52. The disclosure for this sale can be found here. Insiders have sold 130,431 shares of company stock valued at $6,356,622 over the last ninety days. 3.10% of the stock is owned by insiders.

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.