AZEK (NYSE:AZEK) Announces Quarterly Earnings Results

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

AZEK Stock Down 1.0 %

AZEK traded down $0.49 during trading on Tuesday, reaching $50.33. 2,194,224 shares of the stock traded hands, compared to its average volume of 1,524,378. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.17 and a quick ratio of 1.14. AZEK has a fifty-two week low of $35.48 and a fifty-two week high of $54.91. The stock’s 50-day simple moving average is $50.37 and its two-hundred day simple moving average is $46.25. The stock has a market cap of $7.20 billion, a price-to-earnings ratio of 48.39, a price-to-earnings-growth ratio of 2.23 and a beta of 1.94.

Insider Transactions at AZEK

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

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Benchmark reissued a “buy” rating and set a $55.00 price target on shares of AZEK in a report on Thursday, November 21st. Royal Bank of Canada boosted their price target on shares of AZEK from $50.00 to $58.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. Barclays increased their price objective on shares of AZEK from $58.00 to $64.00 and gave the company an “overweight” rating in a report on Wednesday, December 11th. Citigroup upgraded AZEK from a “neutral” rating to a “buy” rating and upped their target price for the stock from $51.00 to $60.00 in a research report on Monday, January 6th. Finally, Truist Financial lifted their price target on AZEK from $52.00 to $57.00 and gave the company a “buy” rating in a research report on Wednesday, November 20th. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, AZEK presently has a consensus rating of “Moderate Buy” and a consensus price target of $53.73.

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.