AZEK (NYSE:AZEK) Issues Quarterly Earnings Results

AZEK (NYSE:AZEK) released its quarterly earnings data on Wednesday. The company reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.06, Briefing.com reports. The firm had revenue of $434.40 million for the quarter, compared to analyst estimates of $396.89 million. AZEK had a net margin of 10.66% and a return on equity of 12.02%. The company’s revenue for the quarter was up 12.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.29 EPS. AZEK updated its FY 2024 guidance to EPS and its Q4 2024 guidance to EPS.

AZEK Price Performance

Shares of NYSE:AZEK traded down $0.10 during midday trading on Friday, reaching $39.06. 3,072,635 shares of the company’s stock were exchanged, compared to its average volume of 1,769,652. The company’s 50 day simple moving average is $43.59 and its two-hundred day simple moving average is $45.30. The firm has a market capitalization of $5.68 billion, a PE ratio of 38.29, a price-to-earnings-growth ratio of 1.28 and a beta of 1.88. AZEK has a 12 month low of $25.03 and a 12 month high of $50.78. The company has a debt-to-equity ratio of 0.42, a quick ratio of 2.21 and a current ratio of 3.40.

Insider Transactions at AZEK

In other news, insider Jonathan Skelly sold 12,000 shares of the firm’s 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 transaction, the insider now directly owns 190,134 shares of the company’s stock, valued at approximately $8,883,060.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Jesse G. Singh sold 13,000 shares of the stock in a transaction dated Wednesday, July 10th. The shares were sold at an average price of $41.75, for a total transaction of $542,750.00. Following the completion of the sale, the chief executive officer now owns 1,024,444 shares in the company, valued at approximately $42,770,537. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jonathan Skelly sold 12,000 shares of the stock in a transaction dated Tuesday, June 18th. The stock was sold at an average price of $46.72, for a total transaction of $560,640.00. Following 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.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on AZEK shares. Loop Capital dropped their price target on shares of AZEK from $58.00 to $52.00 and set a “buy” rating on the stock in a research note on Thursday, July 11th. UBS Group dropped their price target on shares of AZEK from $47.00 to $43.00 and set a “neutral” rating on the stock in a research note on Thursday. BMO Capital Markets dropped their price target on shares of AZEK from $50.00 to $46.00 and set a “market perform” rating on the stock in a research note on Friday. Truist Financial dropped their price target on shares of AZEK from $57.00 to $52.00 and set a “buy” rating on the stock in a research note on Thursday. Finally, Citigroup dropped their price target on shares of AZEK from $50.00 to $44.00 and set a “neutral” rating on the stock in a research note on Thursday, July 11th. Seven research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $45.79.

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.