AZEK (NYSE:AZEK) Earns Neutral Rating from Robert W. Baird

AZEK (NYSE:AZEK)‘s stock had its “neutral” rating reaffirmed by equities research analysts at Robert W. Baird in a research report issued to clients and investors on Monday,Benzinga reports. They presently have a $53.00 target price on the stock, down from their prior target price of $58.00. Robert W. Baird’s target price points to a potential upside of 8.34% from the stock’s previous close.

Other research analysts have also recently issued reports about the stock. BMO Capital Markets boosted their target price on shares of AZEK from $52.00 to $54.00 and gave the stock a “market perform” rating in a research report on Thursday, February 6th. The Goldman Sachs Group boosted their price objective on shares of AZEK from $52.00 to $59.00 and gave the stock a “buy” rating in a report on Thursday, December 12th. Citigroup upgraded AZEK from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $51.00 to $60.00 in a research note on Monday, January 6th. Barclays lifted their price objective on AZEK from $58.00 to $64.00 and gave the stock an “overweight” rating in a report on Wednesday, December 11th. Finally, JPMorgan Chase & Co. increased their target price on AZEK from $48.00 to $58.00 and gave the company an “overweight” rating in a research note on Monday, November 25th. Nine equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, AZEK has a consensus rating of “Hold” and an average price target of $54.32.

AZEK Stock Performance

NYSE:AZEK opened at $48.92 on Monday. The firm’s fifty day simple moving average is $47.42 and its 200 day simple moving average is $47.28. The company has a current ratio of 2.56, a quick ratio of 1.19 and a debt-to-equity ratio of 0.31. AZEK has a twelve month low of $35.48 and a twelve month high of $54.91. The firm has a market capitalization of $7.03 billion, a price-to-earnings ratio of 49.41, a PEG ratio of 1.91 and a beta of 1.95.

AZEK (NYSE:AZEK) last posted its earnings results on Tuesday, February 4th. The company reported $0.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.14 by $0.03. AZEK had a return on equity of 13.47% and a net margin of 9.85%. As a group, equities research analysts expect that AZEK will post 1.34 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Jesse G. Singh sold 19,613 shares of the business’s stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $44.98, for a total transaction of $882,192.74. Following the completion of the transaction, the chief executive officer now owns 904,152 shares in the company, valued at $40,668,756.96. The trade was a 2.12 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Over the last three months, insiders have sold 55,000 shares of company stock valued at $2,518,624. Company insiders own 3.20% of the company’s stock.

Institutional Investors Weigh In On AZEK

Hedge funds have recently added to or reduced their stakes in the stock. GAMMA Investing LLC boosted its stake in AZEK by 39.1% during the 4th quarter. GAMMA Investing LLC now owns 851 shares of the company’s stock valued at $40,000 after purchasing an additional 239 shares during the period. Truist Financial Corp boosted its position in shares of AZEK by 1.6% during the fourth quarter. Truist Financial Corp now owns 16,706 shares of the company’s stock worth $793,000 after buying an additional 255 shares during the period. Investment House LLC grew its holdings in AZEK by 0.7% in the 4th quarter. Investment House LLC now owns 39,255 shares of the company’s stock worth $1,863,000 after buying an additional 290 shares in the last quarter. Federated Hermes Inc. increased its position in AZEK by 4.8% in the 4th quarter. Federated Hermes Inc. now owns 6,984 shares of the company’s stock valued at $332,000 after acquiring an additional 318 shares during the period. Finally, Smartleaf Asset Management LLC raised its stake in AZEK by 13.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 3,040 shares of the company’s stock valued at $146,000 after acquiring an additional 352 shares in the last quarter. 97.44% of the stock is currently 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.