Barclays Lowers AZEK (NYSE:AZEK) Price Target to $53.00

AZEK (NYSE:AZEK) had its price objective trimmed by Barclays from $64.00 to $53.00 in a research note issued to investors on Tuesday morning,Benzinga reports. The brokerage currently has an overweight rating on the stock.

AZEK has been the topic of several other research reports. BMO Capital Markets raised their target price on AZEK from $54.00 to $57.00 and gave the company a “market perform” rating in a research report on Monday, March 24th. William Blair restated a “market perform” rating on shares of AZEK in a report on Monday, March 24th. Wolfe Research reaffirmed a “peer perform” rating on shares of AZEK in a report on Wednesday, March 26th. Citigroup reissued a “neutral” rating and issued a $51.50 price target (down from $61.00) on shares of AZEK in a research note on Tuesday, March 25th. Finally, Royal Bank of Canada upped their price objective on shares of AZEK from $50.00 to $58.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. Nine research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $53.40.

AZEK Price Performance

Shares of NYSE AZEK opened at $46.28 on Tuesday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.19 and a current ratio of 2.56. The firm has a fifty day moving average of $46.46 and a 200 day moving average of $47.53. The firm has a market cap of $6.65 billion, a PE ratio of 46.74, a PEG ratio of 1.91 and a beta of 1.86. AZEK has a one year low of $35.48 and a one year high of $54.91.

AZEK (NYSE:AZEK) last released its earnings results on Tuesday, February 4th. The company reported $0.17 EPS for the quarter, topping analysts’ consensus estimates of $0.14 by $0.03. AZEK had a net margin of 9.85% and a return on equity of 13.47%. As a group, research analysts predict that AZEK will post 1.34 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Jesse G. Singh sold 15,000 shares of the company’s stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $41.03, for a total value of $615,450.00. Following the transaction, the chief executive officer now directly owns 868,765 shares in the company, valued at approximately $35,645,427.95. This represents a 1.70 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 3.20% of the stock is currently owned by insiders.

Institutional Trading of AZEK

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Empowered Funds LLC purchased a new stake in AZEK during the fourth quarter worth about $27,000. FIL Ltd acquired a new position in shares of AZEK in the fourth quarter valued at approximately $28,000. NBC Securities Inc. purchased a new stake in AZEK during the 1st quarter worth approximately $29,000. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in 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 buying an additional 592 shares in the last quarter. Finally, Parallel Advisors LLC boosted its position in AZEK by 261.4% in the 1st quarter. Parallel Advisors LLC now owns 683 shares of the company’s stock valued at $33,000 after buying an additional 494 shares during the period. Hedge funds and other institutional investors 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.