AZEK (NYSE:AZEK) Price Target Cut to $52.00 by Analysts at Barclays

AZEK (NYSE:AZEK) had its price target reduced by Barclays from $58.00 to $52.00 in a report published on Friday, Benzinga reports. They currently have an overweight rating on the stock.

Several other research analysts also recently weighed in on the company. Loop Capital dropped their price target on AZEK from $58.00 to $52.00 and set a buy rating for the company in a research note on Thursday, July 11th. Benchmark assumed coverage on AZEK in a research report on Friday, April 19th. They set a buy rating and a $55.00 price objective for the company. Citigroup decreased their target price on AZEK from $50.00 to $44.00 and set a neutral rating on the stock in a research report on Thursday, July 11th. DA Davidson cut AZEK from a buy rating to a neutral rating and decreased their price objective for the stock from $57.00 to $44.00 in a report on Wednesday, July 3rd. Finally, Truist Financial restated a buy rating and issued a $57.00 price target on shares of AZEK in a research report on Tuesday, June 18th. Five investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, AZEK has an average rating of Moderate Buy and a consensus price target of $46.50.

AZEK Trading Up 0.1 %

Shares of NYSE AZEK opened at $43.69 on Friday. The stock has a market cap of $6.36 billion, a P/E ratio of 42.83, a price-to-earnings-growth ratio of 1.37 and a beta of 1.88. The company has a debt-to-equity ratio of 0.42, a current ratio of 3.40 and a quick ratio of 2.21. AZEK has a 1 year low of $25.03 and a 1 year high of $50.78. The firm has a 50-day moving average of $44.96 and a 200 day moving average of $44.63.

AZEK (NYSE:AZEK) last issued its earnings results on Friday, June 14th. The company reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.03. AZEK had a net margin of 10.66% and a return on equity of 12.02%. The business had revenue of $418.41 million during the quarter, compared to analysts’ expectations of $416.79 million. As a group, sell-side analysts expect that AZEK will post 1.06 EPS for the current fiscal year.

Insiders Place Their Bets

In other AZEK news, CEO Jesse G. Singh sold 13,000 shares of AZEK stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $45.97, for a total value of $597,610.00. Following the completion of the sale, the chief executive officer now owns 1,070,444 shares in the company, valued at approximately $49,208,310.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Jesse G. Singh sold 13,000 shares of the stock in a transaction on Friday, May 10th. The stock was sold at an average price of $45.97, for a total value of $597,610.00. Following the transaction, the chief executive officer now directly owns 1,070,444 shares of the company’s stock, valued at approximately $49,208,310.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Jonathan Skelly sold 12,000 shares of the business’s stock in a transaction dated Tuesday, June 18th. The shares were sold at an average price of $46.72, for a total value of $560,640.00. Following the sale, 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. Insiders have sold a total of 38,000 shares of company stock valued at $1,701,000 in the last quarter. 3.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of AZEK. Quadrant Capital Group LLC grew its stake in AZEK by 45.9% during the 4th quarter. Quadrant Capital Group LLC now owns 728 shares of the company’s stock valued at $28,000 after purchasing an additional 229 shares in the last quarter. Tidal Investments LLC grew its position in shares of AZEK by 3.7% during the first quarter. Tidal Investments LLC now owns 7,060 shares of the company’s stock worth $355,000 after buying an additional 251 shares in the last quarter. Venturi Wealth Management LLC increased its stake in shares of AZEK by 58.9% in the first quarter. Venturi Wealth Management LLC now owns 707 shares of the company’s stock worth $36,000 after buying an additional 262 shares during the last quarter. Treasurer of the State of North Carolina raised its holdings in AZEK by 1.0% in the fourth quarter. Treasurer of the State of North Carolina now owns 58,496 shares of the company’s stock valued at $2,237,000 after acquiring an additional 570 shares in the last quarter. Finally, ORG Partners LLC bought a new position in shares of AZEK during the first quarter worth about $35,000. 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.