AZEK (NYSE:AZEK) PT Lowered to $52.00 at Barclays

AZEK (NYSE:AZEK) had its price objective cut by analysts at Barclays from $58.00 to $52.00 in a report released on Friday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Barclays‘s price target would suggest a potential upside of 18.05% from the company’s current price.

A number of other brokerages have also issued reports on AZEK. Truist Financial reiterated a “buy” rating and issued a $57.00 price objective on shares of AZEK in a report on Tuesday, June 18th. DA Davidson lowered shares of AZEK from a “buy” rating to a “neutral” rating and cut their price target for the stock from $57.00 to $44.00 in a report on Wednesday, July 3rd. Citigroup decreased their price objective on AZEK from $50.00 to $44.00 and set a “neutral” rating for the company in a report on Thursday. Loop Capital cut their target price on AZEK from $58.00 to $52.00 and set a “buy” rating on the stock in a report on Thursday. Finally, Robert W. Baird decreased their price target on AZEK from $60.00 to $58.00 and set an “outperform” rating for the company in a research note on Thursday, May 9th. Five investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, AZEK has an average rating of “Moderate Buy” and an average target price of $46.00.

AZEK Price Performance

AZEK stock traded up $0.74 during mid-day trading on Friday, reaching $44.05. The company had a trading volume of 502,927 shares, compared to its average volume of 1,652,335. The business has a fifty day simple moving average of $45.09 and a 200 day simple moving average of $44.47. The company has a market cap of $6.41 billion, a P/E ratio of 43.17, a P/E/G ratio of 1.32 and a beta of 1.88. The company has a current ratio of 3.40, a quick ratio of 2.21 and a debt-to-equity ratio of 0.42. AZEK has a fifty-two week low of $25.03 and a fifty-two week high of $50.78.

AZEK (NYSE:AZEK) last released its quarterly earnings data on Friday, June 14th. The company reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.03. AZEK had a return on equity of 12.02% and a net margin of 10.66%. The company had revenue of $418.41 million for the quarter, compared to the consensus estimate of $416.79 million. On average, equities research analysts predict that AZEK will post 1.06 earnings per share for the current year.

Insider Activity at AZEK

In other AZEK news, CEO Jesse G. Singh sold 13,000 shares of the business’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $45.97, for a total transaction of $597,610.00. Following the completion of the sale, the chief executive officer now directly owns 1,070,444 shares of the company’s stock, valued at approximately $49,208,310.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other AZEK news, CEO Jesse G. Singh sold 13,000 shares of AZEK stock in a transaction on Friday, May 10th. The shares were sold at an average price of $45.97, for a total transaction of $597,610.00. Following the transaction, the chief executive officer now directly owns 1,070,444 shares of the company’s stock, valued at approximately $49,208,310.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jonathan Skelly sold 12,000 shares of the stock in a transaction dated Tuesday, June 18th. The shares were sold at an average price of $46.72, for a total transaction of $560,640.00. Following the completion of the sale, the insider now owns 190,134 shares of the company’s stock, valued at approximately $8,883,060.48. The disclosure for this sale can be found here. 3.10% of the stock is owned by insiders.

Hedge Funds Weigh In On AZEK

Several institutional investors have recently modified their holdings of AZEK. Norges Bank bought a new position in AZEK in the 4th quarter valued at $44,418,000. Vanguard Group Inc. raised its position in AZEK by 7.3% in the third quarter. Vanguard Group Inc. now owns 13,012,414 shares of the company’s stock worth $386,989,000 after acquiring an additional 881,697 shares during the period. Jennison Associates LLC grew its position in shares of AZEK by 2,948.2% during the 4th quarter. Jennison Associates LLC now owns 788,666 shares of the company’s stock valued at $30,166,000 after acquiring an additional 762,793 shares during the period. Corient Private Wealth LLC increased its stake in shares of AZEK by 1,339.0% during the 4th quarter. Corient Private Wealth LLC now owns 657,712 shares of the company’s stock worth $25,157,000 after purchasing an additional 612,005 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD raised its holdings in shares of AZEK by 66.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,466,145 shares of the company’s stock worth $73,631,000 after purchasing an additional 587,107 shares during the period. 97.44% of the stock is owned by institutional investors.

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.