Stephens Reaffirms “Equal Weight” Rating for AZEK (NYSE:AZEK)

AZEK (NYSE:AZEK)‘s stock had its “equal weight” rating reaffirmed by analysts at Stephens in a research note issued on Monday,Benzinga reports. They currently have a $58.00 price objective on the stock. Stephens’ target price suggests a potential upside of 40.15% from the stock’s current price.

Other equities research analysts have also issued research reports about the company. Citigroup raised AZEK from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $51.00 to $60.00 in a report on Monday, January 6th. Robert W. Baird restated a “neutral” rating and issued a $53.00 price target (down from $58.00) on shares of AZEK in a research note on Monday. Royal Bank of Canada increased their price objective on AZEK from $50.00 to $58.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. BMO Capital Markets boosted their target price on shares of AZEK from $54.00 to $57.00 and gave the stock a “market perform” rating in a research report on Monday. Finally, The Goldman Sachs Group increased their price target on shares of AZEK from $52.00 to $59.00 and gave the company a “buy” rating in a report on Thursday, December 12th. Six investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $54.93.

AZEK Trading Down 0.8 %

Shares of AZEK stock opened at $41.39 on Monday. AZEK has a twelve month low of $35.48 and a twelve month high of $54.91. The company has a current ratio of 2.56, a quick ratio of 1.19 and a debt-to-equity ratio of 0.31. The business’s 50 day moving average is $47.32 and its two-hundred day moving average is $47.18. The company has a market capitalization of $5.95 billion, a P/E ratio of 41.80, a price-to-earnings-growth ratio of 1.91 and a beta of 1.95.

AZEK (NYSE:AZEK) last announced its quarterly earnings data on Tuesday, February 4th. The company reported $0.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.03. AZEK had a net margin of 9.85% and a return on equity of 13.47%. Equities analysts forecast that AZEK will post 1.34 EPS for the current year.

Insider Activity

In related news, CEO Jesse G. Singh sold 20,387 shares of AZEK stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $50.08, for a total transaction of $1,020,980.96. Following the completion of the sale, the chief executive officer now owns 883,765 shares in the company, valued at approximately $44,258,951.20. This trade represents a 2.25 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders have sold 55,000 shares of company stock worth $2,518,624 over the last ninety days. 3.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On AZEK

Hedge funds have recently modified their holdings of the company. Empowered Funds LLC purchased a new position in shares of AZEK during the fourth quarter valued at approximately $27,000. FIL Ltd acquired a new position in AZEK in the 4th quarter valued at $28,000. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in shares of AZEK by 623.2% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 687 shares of the company’s stock worth $33,000 after purchasing an additional 592 shares during the period. Avalon Trust Co acquired a new stake in shares of AZEK during the fourth quarter worth $38,000. Finally, GAMMA Investing LLC grew its position in shares of AZEK by 39.1% in the fourth quarter. GAMMA Investing LLC now owns 851 shares of the company’s stock valued at $40,000 after purchasing an additional 239 shares during the period. 97.44% of the stock is owned by institutional investors and hedge funds.

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.