AZEK (NYSE:AZEK) Announces Earnings Results

AZEK (NYSE:AZEKGet Rating) announced its quarterly earnings data on Thursday. The company reported $0.29 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.06, Fidelity Earnings reports. AZEK had a return on equity of 11.08% and a net margin of 8.49%. The firm had revenue of $395.00 million during the quarter, compared to analyst estimates of $385.73 million. During the same period last year, the company posted $0.22 EPS. The business’s quarterly revenue was up 20.6% compared to the same quarter last year.

AZEK Stock Performance

Shares of AZEK stock traded up $1.04 during trading on Friday, reaching $21.45. The company had a trading volume of 1,963,483 shares, compared to its average volume of 2,123,393. The company has a market capitalization of $3.33 billion, a PE ratio of 29.38, a PEG ratio of 1.46 and a beta of 1.89. The firm’s 50 day simple moving average is $19.14 and its two-hundred day simple moving average is $23.52. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.00 and a quick ratio of 1.28. AZEK has a one year low of $15.52 and a one year high of $46.56.

Analyst Upgrades and Downgrades

AZEK has been the subject of a number of research reports. Citigroup decreased their price objective on AZEK from $24.00 to $23.00 and set a “buy” rating for the company in a research report on Friday, June 17th. Barclays decreased their price objective on AZEK from $29.00 to $28.00 and set an “overweight” rating for the company in a research report on Thursday, July 14th. The Goldman Sachs Group downgraded AZEK from a “conviction-buy” rating to a “buy” rating and set a $23.00 price target for the company. in a research note on Wednesday, July 13th. Loop Capital downgraded AZEK from a “buy” rating to a “hold” rating and cut their price target for the stock from $56.00 to $25.00 in a research note on Monday, April 25th. Finally, Robert W. Baird cut their price target on AZEK from $30.00 to $28.00 and set an “outperform” rating for the company in a research note on Thursday, June 16th. One investment analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $29.80.

Institutional Trading of AZEK

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AZEK. Covestor Ltd grew its holdings in AZEK by 1,441.8% in the 1st quarter. Covestor Ltd now owns 2,544 shares of the company’s stock valued at $63,000 after buying an additional 2,379 shares during the last quarter. MetLife Investment Management LLC acquired a new stake in AZEK in the 1st quarter valued at approximately $124,000. XTX Topco Ltd acquired a new stake in AZEK in the 1st quarter valued at approximately $205,000. Virtu Financial LLC acquired a new stake in shares of AZEK during the 1st quarter worth approximately $234,000. Finally, Snider Financial Group grew its holdings in shares of AZEK by 7.7% during the 1st quarter. Snider Financial Group now owns 10,655 shares of the company’s stock worth $265,000 after purchasing an additional 765 shares in the last quarter. Institutional investors and hedge funds own 96.53% of the company’s stock.

About AZEK

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The AZEK Company Inc engages in designing, manufacturing, and selling building products for residential, commercial, and industrial markets in the United States. It operates through two segments: Residential and Commercial. The Residential segment designs and manufactures engineered outdoor living products, which includes decking, railing, trim and moulding, and accessories under the TimberTech, AZEK Exteriors, VERSATEX, and ULTRALOX brand name.

Further Reading

Earnings History for AZEK (NYSE:AZEK)

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