Wolfe Research Reiterates “Peer Perform” Rating for AZEK (NYSE:AZEK)

AZEK (NYSE:AZEK)‘s stock had its “peer perform” rating reaffirmed by stock analysts at Wolfe Research in a research report issued to clients and investors on Wednesday, MarketBeat.com reports.

Several other analysts have also recently weighed in on AZEK. BMO Capital Markets raised their price target on AZEK from $54.00 to $57.00 and gave the company a “market perform” rating in a report on Monday. Robert W. Baird reaffirmed a “neutral” rating and issued a $53.00 target price (down from $58.00) on shares of AZEK in a research note on Monday. The Goldman Sachs Group boosted their price target on shares of AZEK from $52.00 to $59.00 and gave the stock a “buy” rating in a research note on Thursday, December 12th. Stephens reissued an “equal weight” rating and issued a $58.00 price target on shares of AZEK in a report on Monday. Finally, Barclays lifted their price objective on shares of AZEK from $58.00 to $64.00 and gave the stock an “overweight” rating in a report on Wednesday, December 11th. Nine investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $54.32.

AZEK Stock Performance

AZEK stock opened at $49.77 on Wednesday. AZEK has a 1-year low of $35.48 and a 1-year high of $54.91. The company has a current ratio of 2.56, a quick ratio of 1.19 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $7.15 billion, a PE ratio of 50.27, a price-to-earnings-growth ratio of 1.91 and a beta of 1.95. The firm’s 50 day simple moving average is $47.41 and its 200 day simple moving average is $47.31.

AZEK (NYSE:AZEK) last released 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 expect that AZEK will post 1.34 earnings per share for the current fiscal year.

Insider Activity at AZEK

In related news, CEO Jesse G. Singh sold 19,613 shares of AZEK stock in a transaction on Friday, January 10th. The shares were sold at an average price of $44.98, for a total value of $882,192.74. Following the transaction, the chief executive officer now directly owns 904,152 shares of the company’s stock, valued at $40,668,756.96. The trade was a 2.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders sold 55,000 shares of company stock worth $2,518,624 in the last ninety days. 3.20% of the stock is owned by company insiders.

Institutional Investors Weigh In On AZEK

Large investors have recently added to or reduced their stakes in the company. Empowered Funds LLC bought a new position in shares of AZEK during the fourth quarter valued at about $27,000. FIL Ltd purchased a new position in AZEK during the 4th quarter valued at about $28,000. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in AZEK by 623.2% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 687 shares of the company’s stock valued at $33,000 after purchasing an additional 592 shares during the last quarter. Avalon Trust Co purchased a new stake in AZEK in the 4th quarter worth approximately $38,000. Finally, GAMMA Investing LLC lifted its holdings in AZEK by 39.1% in the 4th quarter. GAMMA Investing LLC now owns 851 shares of the company’s stock worth $40,000 after buying an additional 239 shares during the period. 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.