JPMorgan Chase & Co. Lowers AZEK (NYSE:AZEK) Price Target to $48.00

AZEK (NYSE:AZEK) had its price target lowered by equities researchers at JPMorgan Chase & Co. from $52.00 to $48.00 in a report released on Tuesday, Benzinga reports. The firm presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target suggests a potential upside of 25.26% from the stock’s current price.

Several other equities analysts have also weighed in on AZEK. Royal Bank of Canada cut their target price on shares of AZEK from $49.00 to $46.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Truist Financial cut their price objective on shares of AZEK from $57.00 to $52.00 and set a “buy” rating for the company in a report on Thursday, August 8th. 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 research report on Wednesday, July 3rd. The Goldman Sachs Group dropped their target price on AZEK from $56.00 to $50.00 and set a “buy” rating on the stock in a research report on Wednesday, July 10th. Finally, Citigroup reduced their price target on AZEK from $50.00 to $44.00 and set a “neutral” rating for the company in a report on Thursday, July 11th. Six investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, AZEK presently has a consensus rating of “Moderate Buy” and an average price target of $47.11.

AZEK Trading Down 1.9 %

Shares of AZEK stock opened at $38.32 on Tuesday. The stock has a market cap of $5.58 billion, a PE ratio of 37.57, a price-to-earnings-growth ratio of 1.28 and a beta of 1.88. The firm has a fifty day moving average price of $43.43 and a 200 day moving average price of $45.41. AZEK has a 1 year low of $25.03 and a 1 year high of $50.78. The company has a debt-to-equity ratio of 0.42, a current ratio of 3.40 and a quick ratio of 2.21.

AZEK (NYSE:AZEK) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.06. AZEK had a return on equity of 12.02% and a net margin of 10.66%. The business had revenue of $434.40 million during the quarter, compared to analysts’ expectations of $396.89 million. During the same quarter in the previous year, the firm posted $0.29 EPS. The company’s revenue for the quarter was up 12.1% on a year-over-year basis. Equities research analysts predict that AZEK will post 1.06 earnings per share for the current year.

Insider Transactions at AZEK

In related news, CEO Jesse G. Singh sold 13,000 shares of AZEK stock in a transaction that occurred on Wednesday, July 10th. The shares were sold at an average price of $41.75, for a total value of $542,750.00. Following the completion of the transaction, the chief executive officer now owns 1,024,444 shares in the company, valued at $42,770,537. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, 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 completion of the transaction, the chief executive officer now directly owns 1,024,444 shares of the company’s stock, valued at approximately $42,770,537. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jonathan Skelly sold 12,000 shares of AZEK stock in a transaction dated Tuesday, June 18th. The shares were sold at an average price of $46.72, for a total value of $560,640.00. Following the completion of the transaction, 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. Corporate insiders own 3.10% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Quadrant Capital Group LLC grew its stake in shares of AZEK by 45.9% during the fourth quarter. Quadrant Capital Group LLC now owns 728 shares of the company’s stock worth $28,000 after purchasing an additional 229 shares in the last quarter. ORG Partners LLC acquired a new stake in AZEK during the first quarter worth approximately $35,000. Venturi Wealth Management LLC lifted its position in shares of AZEK by 58.9% during the 1st quarter. Venturi Wealth Management LLC now owns 707 shares of the company’s stock worth $36,000 after buying an additional 262 shares during the last quarter. Whittier Trust Co. acquired a new position in shares of AZEK in the 1st quarter valued at $37,000. Finally, Principal Securities Inc. acquired a new position in shares of AZEK in the 4th quarter valued at $44,000. Institutional investors and hedge funds 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.