BMO Capital Markets Forecasts Strong Price Appreciation for AZEK (NYSE:AZEK) Stock

AZEK (NYSE:AZEK) had its target price lifted by BMO Capital Markets from $54.00 to $57.00 in a research note released on Monday,Benzinga reports. They currently have a market perform rating on the stock.

Other research analysts have also recently issued reports about the stock. The Goldman Sachs Group increased 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. Royal Bank of Canada raised 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. JPMorgan Chase & Co. upped their price objective on AZEK from $48.00 to $58.00 and gave the stock an “overweight” rating in a report on Monday, November 25th. Barclays raised their target price on AZEK from $58.00 to $64.00 and gave the company an “overweight” rating in a report on Wednesday, December 11th. Finally, Citigroup raised shares of AZEK from a “neutral” rating to a “buy” rating and upped their price target for the stock from $51.00 to $60.00 in a research note on Monday, January 6th. Seven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $54.93.

AZEK Trading Up 17.6 %

Shares of AZEK stock opened at $48.67 on Monday. The company has a market capitalization of $6.99 billion, a P/E ratio of 49.16, a price-to-earnings-growth ratio of 1.91 and a beta of 1.95. 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 business’s 50 day moving average is $47.39 and its two-hundred day moving average is $47.23. AZEK has a twelve month low of $35.48 and a twelve month high of $54.91.

AZEK (NYSE:AZEK) last posted its quarterly earnings data on Tuesday, February 4th. The company reported $0.17 earnings per share for the quarter, beating 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%. Equities analysts forecast that AZEK will post 1.34 EPS for the current year.

Insider Activity

In related news, CEO Jesse G. Singh sold 20,387 shares of the company’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $50.08, for a total value of $1,020,980.96. Following the sale, the chief executive officer now owns 883,765 shares of the company’s stock, valued at approximately $44,258,951.20. This represents a 2.25 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold 55,000 shares of company stock worth $2,518,624 over the last ninety days. 3.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On AZEK

Several hedge funds have recently bought and sold shares of the stock. Empowered Funds LLC purchased a new stake in shares of AZEK in the fourth quarter valued at $27,000. FIL Ltd acquired a new position in AZEK in the 4th quarter valued at about $28,000. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in AZEK by 623.2% in 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 in the last quarter. Avalon Trust Co purchased a new position in AZEK in the 4th quarter valued at about $38,000. Finally, GAMMA Investing LLC boosted its stake in shares of AZEK by 39.1% during the 4th quarter. GAMMA Investing LLC now owns 851 shares of the company’s stock worth $40,000 after purchasing an additional 239 shares during the last quarter. Hedge funds and other institutional investors own 97.44% of the company’s stock.

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.