AZEK (NYSE:AZEK) Given New $53.00 Price Target at Barclays

AZEK (NYSE:AZEK) had its target price decreased by investment analysts at Barclays from $64.00 to $53.00 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Barclays‘s price objective would suggest a potential upside of 11.74% from the stock’s previous close.

AZEK has been the topic of a number of other reports. The Goldman Sachs Group lifted their price objective on AZEK from $52.00 to $59.00 and gave the company a “buy” rating in a research report on Thursday, December 12th. Raymond James set a $51.50 price target on AZEK in a research note on Tuesday, March 25th. William Blair reiterated a “market perform” rating on shares of AZEK in a research report on Monday, March 24th. Baird R W cut AZEK from a “strong-buy” rating to a “hold” rating in a report on Monday, March 24th. Finally, Royal Bank of Canada raised their target price on shares of AZEK from $50.00 to $58.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. Nine investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $53.40.

AZEK Price Performance

Shares of AZEK stock opened at $47.43 on Tuesday. The stock has a market cap of $6.81 billion, a price-to-earnings ratio of 47.91, a PEG ratio of 1.91 and a beta of 1.86. The company has a quick ratio of 1.19, a current ratio of 2.56 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 business’s fifty day moving average is $46.55 and its 200 day moving average is $47.53.

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

Insider Transactions at AZEK

In other news, CEO Jesse G. Singh sold 15,000 shares of the business’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 approximately $35,645,427.95. The trade was a 1.70 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In the last 90 days, insiders have sold 55,000 shares of company stock valued at $2,518,624. 3.20% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On AZEK

Hedge funds and other institutional investors have recently bought and sold shares of the company. State Street Corp grew its stake in shares of AZEK by 1.9% during the third quarter. State Street Corp now owns 2,451,483 shares of the company’s stock worth $114,729,000 after acquiring an additional 45,774 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of AZEK by 4.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,999,232 shares of the company’s stock valued at $93,564,000 after buying an additional 90,206 shares during the period. Stifel Financial Corp boosted its position in AZEK by 24.7% in the 3rd quarter. Stifel Financial Corp now owns 22,481 shares of the company’s stock worth $1,052,000 after purchasing an additional 4,454 shares in the last quarter. Blue Trust Inc. boosted its holdings in AZEK by 94.2% during the fourth quarter. Blue Trust Inc. now owns 1,808 shares of the company’s stock worth $85,000 after buying an additional 877 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of AZEK by 2.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,169,551 shares of the company’s stock valued at $55,519,000 after acquiring an additional 24,249 shares during the period. 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.