AZEK (NYSE:AZEK) Receives “Peer Perform” Rating from Wolfe Research

AZEK (NYSE:AZEK)‘s stock had its “peer perform” rating reiterated by Wolfe Research in a research note issued to investors on Wednesday,Benzinga reports.

A number of other analysts have also weighed in on the company. Baird R W lowered AZEK from a “strong-buy” rating to a “hold” rating in a research note on Monday. Citigroup reiterated a “neutral” rating and set a $51.50 price target (down from $61.00) on shares of AZEK in a report on Tuesday. The Goldman Sachs Group raised their price target on shares of AZEK from $52.00 to $59.00 and gave the stock a “buy” rating in a report on Thursday, December 12th. Barclays upped their price objective on shares of AZEK from $58.00 to $64.00 and gave the company an “overweight” rating in a research note on Wednesday, December 11th. Finally, Royal Bank of Canada boosted their price target on AZEK from $50.00 to $58.00 and gave the company an “outperform” rating in a report on Friday, December 13th. Ten analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, AZEK has an average rating of “Hold” and a consensus price target of $54.32.

AZEK Trading Up 0.7 %

AZEK stock opened at $48.92 on Wednesday. AZEK has a one year low of $35.48 and a one year high of $54.91. The company has a market capitalization of $7.03 billion, a PE ratio of 49.41, a price-to-earnings-growth ratio of 1.91 and a beta of 1.95. The company’s 50 day moving average price is $47.42 and its two-hundred day moving average price is $47.28. 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 (NYSE:AZEK) last posted its quarterly earnings results on Tuesday, February 4th. The company reported $0.17 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.03. AZEK had a net margin of 9.85% and a return on equity of 13.47%. As a group, analysts predict that AZEK will post 1.34 earnings per share for the current fiscal year.

Insider Buying and Selling at AZEK

In related news, CEO Jesse G. Singh sold 15,000 shares of the company’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $41.03, for a total value of $615,450.00. Following the sale, the chief executive officer now owns 868,765 shares in the company, valued at $35,645,427.95. This represents a 1.70 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Over the last quarter, insiders sold 55,000 shares of company stock valued at $2,518,624. Corporate insiders own 3.20% of the company’s stock.

Institutional Investors Weigh In On AZEK

Several hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in shares of AZEK by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 14,430,833 shares of the company’s stock valued at $685,032,000 after acquiring an additional 54,725 shares in the last quarter. Wellington Management Group LLP grew its position in AZEK by 33.8% during the 3rd quarter. Wellington Management Group LLP now owns 14,224,410 shares of the company’s stock valued at $665,702,000 after purchasing an additional 3,595,863 shares during the last quarter. FMR LLC increased its stake in AZEK by 80.7% during the 4th quarter. FMR LLC now owns 12,311,577 shares of the company’s stock valued at $584,431,000 after purchasing an additional 5,499,986 shares in the last quarter. Alliancebernstein L.P. raised its holdings in AZEK by 15.0% in the fourth quarter. Alliancebernstein L.P. now owns 3,294,619 shares of the company’s stock worth $156,396,000 after buying an additional 429,574 shares during the last quarter. Finally, State Street Corp lifted its stake in shares of AZEK by 1.9% in the third quarter. State Street Corp now owns 2,451,483 shares of the company’s stock worth $114,729,000 after buying an additional 45,774 shares in the last quarter. 97.44% of the stock is owned by institutional investors.

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.