Robert W. Baird Reiterates Neutral Rating for AZEK (NYSE:AZEK)

AZEK (NYSE:AZEK)‘s stock had its “neutral” rating reiterated by equities researchers at Robert W. Baird in a research note issued to investors on Monday,Benzinga reports. They presently have a $53.00 price objective on the stock, down from their prior price objective of $58.00. Robert W. Baird’s price target points to a potential upside of 8.34% from the company’s current price.

Several other analysts have also weighed in on AZEK. Citigroup raised AZEK from a “neutral” rating to a “buy” rating and upped their target price for the company from $51.00 to $60.00 in a report on Monday, January 6th. JPMorgan Chase & Co. increased their price objective on shares of AZEK from $48.00 to $58.00 and gave the company an “overweight” rating in a research note on Monday, November 25th. Royal Bank of Canada lifted their target price on shares of AZEK from $50.00 to $58.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. BMO Capital Markets increased their price target on shares of AZEK from $52.00 to $54.00 and gave the company a “market perform” rating in a research report on Thursday, February 6th. Finally, The Goldman Sachs Group lifted their price objective on AZEK from $52.00 to $59.00 and gave the stock a “buy” rating in a research report on Thursday, December 12th. Nine investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $54.32.

AZEK Stock Performance

Shares of AZEK opened at $48.92 on Monday. The company has a quick ratio of 1.19, a current ratio of 2.56 and a debt-to-equity ratio of 0.31. AZEK has a 52-week low of $35.48 and a 52-week high of $54.91. The company has a 50-day simple moving average of $47.42 and a 200-day simple moving average of $47.28. The company has a market capitalization of $7.03 billion, a PE ratio of 49.41, a P/E/G ratio of 1.91 and a beta of 1.95.

AZEK (NYSE:AZEK) last issued its earnings results on Tuesday, February 4th. The company reported $0.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.14 by $0.03. AZEK had a net margin of 9.85% and a return on equity of 13.47%. Equities research analysts predict that AZEK will post 1.34 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Jesse G. Singh sold 15,000 shares of the firm’s stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $41.03, for a total value of $615,450.00. Following the sale, the chief executive officer now directly owns 868,765 shares of the company’s stock, valued at approximately $35,645,427.95. This trade represents a 1.70 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold a total of 55,000 shares of company stock valued at $2,518,624 over the last quarter. Company insiders own 3.20% of the company’s stock.

Hedge Funds Weigh In On AZEK

Institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. grew its stake in shares of AZEK by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 14,430,833 shares of the company’s stock valued at $685,032,000 after buying an additional 54,725 shares during the period. Wellington Management Group LLP boosted its holdings in AZEK by 33.8% in the third quarter. Wellington Management Group LLP now owns 14,224,410 shares of the company’s stock valued at $665,702,000 after acquiring an additional 3,595,863 shares during the last quarter. FMR LLC boosted its holdings in AZEK by 80.7% in the fourth quarter. FMR LLC now owns 12,311,577 shares of the company’s stock valued at $584,431,000 after acquiring an additional 5,499,986 shares during the last quarter. Alliancebernstein L.P. grew its position in AZEK by 15.0% during the fourth quarter. Alliancebernstein L.P. now owns 3,294,619 shares of the company’s stock valued at $156,396,000 after acquiring an additional 429,574 shares during the period. Finally, State Street Corp increased its stake in AZEK by 1.9% during the third quarter. State Street Corp now owns 2,451,483 shares of the company’s stock worth $114,729,000 after acquiring an additional 45,774 shares during the last quarter. Institutional investors and hedge funds 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.