The AZEK Company Inc. (NYSE:AZEK) Expected to Announce Quarterly Sales of $256.05 Million

Brokerages expect that The AZEK Company Inc. (NYSE:AZEK) will announce sales of $256.05 million for the current fiscal quarter, Zacks reports. Seven analysts have provided estimates for AZEK’s earnings. The lowest sales estimate is $252.90 million and the highest is $262.97 million. AZEK posted sales of $212.28 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 20.6%. The company is expected to announce its next quarterly earnings report before the market opens on Thursday, February 3rd.

According to Zacks, analysts expect that AZEK will report full-year sales of $1.38 billion for the current financial year, with estimates ranging from $1.35 billion to $1.41 billion. For the next year, analysts expect that the firm will report sales of $1.52 billion, with estimates ranging from $1.42 billion to $1.58 billion. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for AZEK.

AZEK (NYSE:AZEK) last posted its earnings results on Thursday, November 18th. The company reported $0.32 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.28 by $0.04. AZEK had a return on equity of 10.08% and a net margin of 7.91%. The company had revenue of $346.10 million during the quarter, compared to analyst estimates of $329.50 million. During the same period in the previous year, the company earned $0.29 EPS. The company’s revenue for the quarter was up 31.1% compared to the same quarter last year.

AZEK has been the topic of several recent analyst reports. JPMorgan Chase & Co. raised AZEK from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $54.00 to $56.00 in a research report on Wednesday, December 15th. Zacks Investment Research lowered AZEK from a “buy” rating to a “hold” rating in a report on Wednesday, November 24th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $51.50.

NYSE AZEK traded down $1.53 during trading on Tuesday, hitting $41.03. The stock had a trading volume of 57,967 shares, compared to its average volume of 985,012. The company has a market capitalization of $6.35 billion, a PE ratio of 68.35 and a beta of 1.47. AZEK has a 12 month low of $33.68 and a 12 month high of $51.32. The company’s 50-day moving average price is $42.24 and its two-hundred day moving average price is $40.00. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.02 and a current ratio of 3.12.

In related news, SVP Jonathan Skelly sold 12,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 30th. The stock was sold at an average price of $39.64, for a total transaction of $475,680.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Scott Vanwinter sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, December 27th. The stock was sold at an average price of $45.22, for a total value of $904,400.00. The disclosure for this sale can be found here. Insiders sold 87,000 shares of company stock valued at $3,686,930 over the last quarter. Corporate insiders own 4.20% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AZEK. Dark Forest Capital Management LP bought a new position in AZEK in the second quarter worth approximately $77,000. FORA Capital LLC bought a new position in AZEK in the second quarter worth approximately $119,000. Belpointe Asset Management LLC boosted its holdings in AZEK by 27.4% in the second quarter. Belpointe Asset Management LLC now owns 3,745 shares of the company’s stock worth $159,000 after acquiring an additional 805 shares in the last quarter. Laurion Capital Management LP boosted its holdings in AZEK by 23.2% in the third quarter. Laurion Capital Management LP now owns 5,825 shares of the company’s stock worth $213,000 after acquiring an additional 1,097 shares in the last quarter. Finally, Utah Retirement Systems boosted its holdings in AZEK by 5.4% in the third quarter. Utah Retirement Systems now owns 5,900 shares of the company’s stock worth $216,000 after acquiring an additional 300 shares in the last quarter. 95.65% of the stock is owned by institutional investors and hedge funds.

AZEK Company Profile

The AZEK Company Inc engages in designing, manufacturing, and selling building products for residential and commercial markets in the United States. The company operates through Residential and Commercial segments. Its products include decks, rails, trims, accessories, and specialty exteriors; and partitions, lockers, and polymer solutions.

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