AZEK (NYSE:AZEK) Price Target Cut to $52.00 by Analysts at Truist Financial

AZEK (NYSE:AZEK) had its price objective trimmed by Truist Financial from $57.00 to $52.00 in a research note issued to investors on Thursday morning, Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other research firms have also recently issued reports on AZEK. Robert W. Baird dropped their target price on AZEK from $60.00 to $58.00 and set an outperform rating on the stock in a research report on Thursday, May 9th. DA Davidson downgraded shares of AZEK from a buy rating to a neutral rating and decreased their price objective for the stock from $57.00 to $44.00 in a report on Wednesday, July 3rd. BMO Capital Markets downgraded shares of AZEK from an outperform rating to a market perform rating and reduced their price target for the company from $53.00 to $50.00 in a research report on Tuesday, July 23rd. Citigroup lowered their price target on AZEK from $50.00 to $44.00 and set a neutral rating on the stock in a report on Thursday, July 11th. Finally, Barclays lowered their target price on shares of AZEK from $58.00 to $52.00 and set an overweight rating for the company in a research note on Friday, July 12th. Seven research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of Moderate Buy and an average price target of $45.79.

AZEK Stock Performance

AZEK traded down $0.10 on Thursday, hitting $39.06. 3,072,635 shares of the company traded hands, compared to its average volume of 1,769,652. AZEK has a 12-month low of $25.03 and a 12-month high of $50.78. The company has a 50 day moving average of $43.59 and a 200-day moving average of $45.30. The company has a quick ratio of 2.21, a current ratio of 3.40 and a debt-to-equity ratio of 0.42. The stock has a market capitalization of $5.68 billion, a PE ratio of 38.29, a PEG ratio of 1.28 and a beta of 1.88.

AZEK (NYSE:AZEK) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $0.42 earnings per share for the quarter, beating analysts’ consensus estimates of $0.36 by $0.06. 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%. AZEK’s quarterly revenue was up 12.1% on a year-over-year basis. During the same period last year, the firm posted $0.29 EPS. Sell-side analysts anticipate that AZEK will post 1.06 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Jesse G. Singh sold 13,000 shares of the company’s stock in a transaction on Wednesday, July 10th. The stock was sold at an average price of $41.75, for a total transaction of $542,750.00. Following the transaction, the chief executive officer now owns 1,024,444 shares of the company’s stock, valued at $42,770,537. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Jonathan Skelly sold 12,000 shares of AZEK stock in a transaction that occurred on Tuesday, June 18th. The shares were sold at an average price of $46.72, for a total value of $560,640.00. Following the sale, the insider now directly owns 190,134 shares in the company, valued at $8,883,060.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jesse G. Singh sold 13,000 shares of the business’s stock in a transaction on Wednesday, July 10th. The stock was sold at an average price of $41.75, for a total transaction of $542,750.00. Following the transaction, the chief executive officer now owns 1,024,444 shares in the company, valued at $42,770,537. The disclosure for this sale can be found here. Company insiders own 3.10% of the company’s stock.

Institutional Trading of AZEK

Hedge funds and other institutional investors have recently modified their holdings of the stock. Dimensional Fund Advisors LP increased its stake in shares of AZEK by 5.3% during the second quarter. Dimensional Fund Advisors LP now owns 2,354,096 shares of the company’s stock worth $99,175,000 after purchasing an additional 118,351 shares during the period. Envestnet Asset Management Inc. lifted its position in AZEK by 8.1% during the second quarter. Envestnet Asset Management Inc. now owns 203,302 shares of the company’s stock worth $8,565,000 after purchasing an additional 15,317 shares during the period. Federated Hermes Inc. increased its stake in AZEK by 337.7% in the second quarter. Federated Hermes Inc. now owns 18,353 shares of the company’s stock valued at $773,000 after acquiring an additional 14,160 shares during the last quarter. DekaBank Deutsche Girozentrale bought a new stake in shares of AZEK during the 2nd quarter worth $215,000. Finally, Van Hulzen Asset Management LLC lifted its stake in AZEK by 3.5% in the 2nd quarter. Van Hulzen Asset Management LLC now owns 31,824 shares of the company’s stock valued at $1,341,000 after purchasing an additional 1,087 shares during the last quarter. Institutional investors own 97.44% of the company’s stock.

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.