AZEK (NYSE:AZEK) Coverage Initiated by Analysts at Benchmark

Benchmark initiated coverage on shares of AZEK (NYSE:AZEK) in a research note released on Friday, Marketbeat Ratings reports. The firm issued a buy rating and a $55.00 price objective on the stock.

Several other brokerages also recently commented on AZEK. Truist Financial lifted their target price on shares of AZEK from $40.00 to $48.00 and gave the stock a buy rating in a report on Wednesday, February 7th. Barclays lifted their target price on shares of AZEK from $50.00 to $58.00 and gave the stock an overweight rating in a report on Thursday, April 4th. B. Riley lifted their target price on shares of AZEK from $40.00 to $50.00 and gave the stock a buy rating in a report on Wednesday, February 7th. Robert W. Baird raised their price target on shares of AZEK from $52.00 to $60.00 and gave the stock an outperform rating in a research report on Monday, April 8th. Finally, Stephens raised their price target on shares of AZEK from $40.00 to $50.00 and gave the stock an overweight rating in a research report on Wednesday, February 7th. Four equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $44.11.

AZEK Stock Down 1.3 %

AZEK stock opened at $44.71 on Friday. The company has a market capitalization of $6.60 billion, a P/E ratio of 56.59, a P/E/G ratio of 1.49 and a beta of 1.92. The firm’s fifty day simple moving average is $47.77 and its 200-day simple moving average is $38.54. The company has a current ratio of 2.99, a quick ratio of 1.67 and a debt-to-equity ratio of 0.43. AZEK has a 1-year low of $23.08 and a 1-year high of $50.78.

AZEK (NYSE:AZEK) last announced its earnings results on Tuesday, February 6th. The company reported $0.08 EPS for the quarter, topping the consensus estimate of $0.03 by $0.05. The firm had revenue of $240.44 million for the quarter, compared to the consensus estimate of $234.12 million. AZEK had a net margin of 8.57% and a return on equity of 9.61%. Sell-side analysts forecast that AZEK will post 1.02 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Jesse G. Singh sold 13,000 shares of AZEK stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $45.34, for a total transaction of $589,420.00. Following the sale, the chief executive officer now directly owns 1,184,444 shares in the company, valued at approximately $53,702,690.96. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other AZEK news, insider Jonathan Skelly sold 10,000 shares of the business’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $46.78, for a total value of $467,800.00. Following the transaction, the insider now directly owns 180,784 shares in the company, valued at $8,457,075.52. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Jesse G. Singh sold 13,000 shares of the business’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $45.34, for a total transaction of $589,420.00. Following the completion of the transaction, the chief executive officer now owns 1,184,444 shares in the company, valued at $53,702,690.96. The disclosure for this sale can be found here. In the last three months, insiders have sold 130,431 shares of company stock worth $6,356,622. Corporate insiders own 3.10% of the company’s stock.

Hedge Funds Weigh In On AZEK

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Quadrant Capital Group LLC boosted its position in AZEK by 45.9% in the fourth quarter. Quadrant Capital Group LLC now owns 728 shares of the company’s stock valued at $28,000 after buying an additional 229 shares in the last quarter. Tower Research Capital LLC TRC raised its stake in shares of AZEK by 726.0% in the first quarter. Tower Research Capital LLC TRC now owns 1,206 shares of the company’s stock worth $29,000 after acquiring an additional 1,060 shares during the last quarter. BluePath Capital Management LLC bought a new position in shares of AZEK in the third quarter worth about $31,000. Principal Securities Inc. bought a new position in shares of AZEK in the fourth quarter worth about $44,000. Finally, Covestor Ltd raised its stake in shares of AZEK by 1,441.8% in the first quarter. Covestor Ltd now owns 2,544 shares of the company’s stock worth $63,000 after acquiring an additional 2,379 shares during the last quarter. 97.44% of the stock is currently owned by institutional investors and hedge funds.

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.