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

AZEK (NYSE:AZEK) had its target price decreased by Truist Financial from $57.00 to $52.00 in a research note released on Thursday morning, Benzinga reports. Truist Financial currently has a buy rating on the stock.

AZEK has been the topic of a number of other reports. DA Davidson cut AZEK from a buy rating to a neutral rating and decreased their price objective for the company from $57.00 to $44.00 in a report on Wednesday, July 3rd. Loop Capital decreased their price objective on AZEK from $58.00 to $52.00 and set a buy rating on the stock in a report on Thursday, July 11th. Robert W. Baird decreased their price objective on AZEK from $60.00 to $58.00 and set an outperform rating on the stock in a report on Thursday, May 9th. The Goldman Sachs Group decreased their price objective on AZEK from $56.00 to $50.00 and set a buy rating on the stock in a report on Wednesday, July 10th. Finally, BMO Capital Markets cut AZEK from an outperform rating to a market perform rating and decreased their price objective for the company from $53.00 to $50.00 in a report on Tuesday, July 23rd. Six investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of Moderate Buy and an average price target of $46.50.

AZEK Stock Performance

NYSE:AZEK opened at $39.06 on Thursday. The business’s 50-day moving average price is $43.59 and its two-hundred day moving average price is $45.41. AZEK has a twelve month low of $25.03 and a twelve month high of $50.78. The stock has a market cap of $5.68 billion, a P/E ratio of 38.29, a PEG ratio of 1.28 and a beta of 1.88. The company has a quick ratio of 2.21, a current ratio of 3.40 and a debt-to-equity ratio of 0.42.

AZEK (NYSE:AZEK) last released 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. AZEK had a return on equity of 12.02% and a net margin of 10.66%. The firm had revenue of $434.40 million for the quarter, compared to analysts’ expectations of $396.89 million. During the same quarter last year, the firm posted $0.29 EPS. The company’s revenue was up 12.1% compared to the same quarter last year. As a group, equities analysts predict that AZEK will post 1.06 EPS for the current fiscal year.

Insider Transactions at AZEK

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

Institutional Investors Weigh In On AZEK

Hedge funds have recently made changes to their positions in the company. Venturi Wealth Management LLC boosted its position 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 purchasing an additional 262 shares in the last quarter. ORG Partners LLC bought a new stake in shares of AZEK during the first quarter valued at approximately $35,000. Quadrant Capital Group LLC boosted its position 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 purchasing an additional 229 shares in the last quarter. Whittier Trust Co. bought a new stake in shares of AZEK during the first quarter valued at approximately $37,000. Finally, Principal Securities Inc. bought a new stake in AZEK in the fourth quarter worth $44,000. 97.44% of the stock is currently owned by institutional investors.

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.