Wolfe Research Reiterates “Peer Perform” Rating for AZEK (NYSE:AZEK)

Wolfe Research restated their peer perform rating on shares of AZEK (NYSE:AZEK) in a research report sent to investors on Wednesday, Marketbeat reports.

AZEK has been the topic of a number of other research reports. Robert W. Baird reissued a “neutral” rating and issued a $53.00 target price (down previously from $58.00) on shares of AZEK in a research report on Monday. Baird R W downgraded shares of AZEK from a “strong-buy” rating to a “hold” rating in a report on Monday. BMO Capital Markets increased their target price on shares of AZEK from $54.00 to $57.00 and gave the stock a “market perform” rating in a report on Monday. The Goldman Sachs Group lifted their price target on shares of AZEK from $52.00 to $59.00 and gave the company a “buy” rating in a research note on Thursday, December 12th. Finally, Barclays increased their price objective on shares of AZEK from $58.00 to $64.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 11th. Nine equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $54.32.

AZEK Stock Performance

Shares of AZEK opened at $48.96 on Wednesday. The firm’s 50 day moving average price is $47.41 and its two-hundred day moving average price is $47.30. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.19 and a current ratio of 2.56. AZEK has a twelve month low of $35.48 and a twelve month high of $54.91. The firm has a market cap of $7.03 billion, a P/E ratio of 49.45, a PEG ratio of 1.91 and a beta of 1.95.

AZEK (NYSE:AZEK) last announced its earnings results on Tuesday, February 4th. The company reported $0.17 earnings per share for the quarter, topping 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%. On average, analysts forecast that AZEK will post 1.34 EPS for the current fiscal year.

Insider Activity

In other news, CEO Jesse G. Singh sold 20,387 shares of the stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $50.08, for a total value of $1,020,980.96. Following the transaction, the chief executive officer now directly owns 883,765 shares of the company’s stock, valued at $44,258,951.20. This represents a 2.25 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold a total of 55,000 shares of company stock valued at $2,518,624 over the last three months. Insiders own 3.20% of the company’s stock.

Institutional Trading of AZEK

Hedge funds and other institutional investors have recently modified their holdings of the stock. Public Employees Retirement System of Ohio boosted its stake in AZEK by 7.9% in the 4th quarter. Public Employees Retirement System of Ohio now owns 165,436 shares of the company’s stock valued at $7,853,000 after purchasing an additional 12,087 shares during the period. Vident Advisory LLC acquired a new stake in shares of AZEK during the fourth quarter worth $217,000. Squarepoint Ops LLC bought a new stake in shares of AZEK in the fourth quarter valued at about $1,397,000. Tabor Asset Management LP acquired a new position in shares of AZEK in the fourth quarter valued at about $2,289,000. Finally, Tidal Investments LLC increased its position in AZEK by 4,255.1% during the fourth quarter. Tidal Investments LLC now owns 461,076 shares of the company’s stock worth $21,887,000 after acquiring an additional 450,489 shares during the period. Institutional investors 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.