AZEK (NYSE:AZEK) Receives Equal Weight Rating from Stephens

AZEK (NYSE:AZEK)‘s stock had its “equal weight” rating reaffirmed by investment analysts at Stephens in a report issued on Monday,Benzinga reports. They presently have a $58.00 target price on the stock. Stephens’ price target points to a potential upside of 18.56% from the company’s current price.

Several other brokerages have also issued reports on AZEK. BMO Capital Markets upped their price target on AZEK from $54.00 to $57.00 and gave the company a “market perform” rating in a research note on Monday. Barclays boosted their price objective on AZEK from $58.00 to $64.00 and gave the company an “overweight” rating in a research report on Wednesday, December 11th. 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. The Goldman Sachs Group increased their price target on AZEK from $52.00 to $59.00 and gave the company a “buy” rating in a research report on Thursday, December 12th. Finally, JPMorgan Chase & Co. upped their target price on shares of AZEK from $48.00 to $58.00 and gave the company an “overweight” rating in a report on Monday, November 25th. Nine research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $54.32.

AZEK Stock Performance

AZEK stock opened at $48.92 on Monday. AZEK has a 12-month low of $35.48 and a 12-month high of $54.91. The stock has a 50-day simple moving average of $47.42 and a 200 day simple moving average of $47.28. The company has a quick ratio of 1.19, a current ratio of 2.56 and a debt-to-equity ratio of 0.31. The stock has a market capitalization of $7.03 billion, a price-to-earnings ratio of 49.41, a P/E/G ratio of 1.91 and a beta of 1.95.

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

Insiders Place Their Bets

In other news, CEO Jesse G. Singh sold 15,000 shares of the firm’s stock in a transaction 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 completion of the transaction, the chief executive officer now directly owns 868,765 shares of the company’s stock, valued at $35,645,427.95. This trade represents a 1.70 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In the last ninety days, insiders sold 55,000 shares of company stock valued at $2,518,624. Corporate insiders own 3.20% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in AZEK. FMR LLC lifted its stake in AZEK by 80.7% in the 4th quarter. FMR LLC now owns 12,311,577 shares of the company’s stock worth $584,431,000 after purchasing an additional 5,499,986 shares in the last quarter. Wellington Management Group LLP raised its holdings in shares of AZEK by 33.8% in the 3rd quarter. Wellington Management Group LLP now owns 14,224,410 shares of the company’s stock valued at $665,702,000 after acquiring an additional 3,595,863 shares in the last quarter. Norges Bank bought a new stake in shares of AZEK during the 4th quarter valued at about $94,987,000. Balyasny Asset Management L.P. grew its holdings in shares of AZEK by 493.6% during the fourth quarter. Balyasny Asset Management L.P. now owns 1,681,629 shares of the company’s stock worth $79,827,000 after purchasing an additional 1,398,340 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its stake in AZEK by 72.7% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,957,094 shares of the company’s stock valued at $92,903,000 after purchasing an additional 823,588 shares in the last quarter. Hedge funds and other institutional investors own 97.44% of the company’s stock.

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.