AZEK (NYSE:AZEK) Reaches New 1-Year High at $50.75

The AZEK Company Inc. (NYSE:AZEK)’s stock price hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $50.75 and last traded at $50.54, with a volume of 243867 shares traded. The stock had previously closed at $49.83.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on AZEK shares. B. Riley increased their price target on AZEK from $40.00 to $50.00 and gave the company a “buy” rating in a research note on Wednesday, February 7th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $37.00 price target (down previously from $38.00) on shares of AZEK in a research note on Friday, December 8th. Royal Bank of Canada boosted their price objective on AZEK from $43.00 to $49.00 and gave the stock an “outperform” rating in a report on Wednesday, February 7th. BMO Capital Markets increased their price target on AZEK from $39.00 to $46.00 and gave the company an “outperform” rating in a research report on Thursday, February 8th. Finally, Stephens upped their target price on shares of AZEK from $40.00 to $50.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 7th. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, AZEK currently has a consensus rating of “Moderate Buy” and an average price target of $39.72.

AZEK Price Performance

The business has a fifty day moving average of $44.96 and a 200-day moving average of $36.52. The firm has a market cap of $7.42 billion, a PE ratio of 63.10, a PEG ratio of 1.62 and a beta of 1.92. 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 (NYSE:AZEK) last released its quarterly earnings results on Tuesday, February 6th. The company reported $0.08 earnings per share 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 analysts’ expectations of $234.12 million. AZEK had a net margin of 8.57% and a return on equity of 9.61%. As a group, research analysts predict that The AZEK Company Inc. will post 1.02 earnings per share for the current year.

Insider Transactions at AZEK

In other AZEK news, CEO Jesse G. Singh sold 13,000 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $45.34, for a total value of $589,420.00. Following the completion of the sale, the chief executive officer now owns 1,184,444 shares of the company’s stock, valued at $53,702,690.96. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other AZEK news, insider Jonathan Skelly sold 10,000 shares of the firm’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $46.78, for a total transaction of $467,800.00. Following the completion of the transaction, the insider now owns 180,784 shares of the company’s stock, valued at $8,457,075.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible 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 stock was 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 disclosure for this sale can be found here. Over the last 90 days, insiders sold 130,431 shares of company stock valued at $6,212,712. 3.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On AZEK

Hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in AZEK by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 13,069,026 shares of the company’s stock worth $499,890,000 after purchasing an additional 56,612 shares in the last quarter. Wellington Management Group LLP increased its position in shares of AZEK by 0.3% during the fourth quarter. Wellington Management Group LLP now owns 12,152,986 shares of the company’s stock valued at $464,852,000 after acquiring an additional 42,132 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in AZEK by 7.3% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 7,632,693 shares of the company’s stock worth $291,951,000 after acquiring an additional 516,523 shares during the last quarter. BlackRock Inc. lifted its position in AZEK by 15.6% in the 2nd quarter. BlackRock Inc. now owns 6,899,713 shares of the company’s stock valued at $208,992,000 after acquiring an additional 929,341 shares in the last quarter. Finally, Morgan Stanley increased its holdings in shares of AZEK by 272.4% in the 4th quarter. Morgan Stanley now owns 3,973,475 shares of the company’s stock worth $80,741,000 after purchasing an additional 2,906,460 shares in the last quarter. 97.44% of the stock is owned by institutional investors.

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.