William Blair Reaffirms Market Perform Rating for AZEK (NYSE:AZEK)

William Blair reissued their market perform rating on shares of AZEK (NYSE:AZEK) in a research note published on Monday morning,Benzinga reports.

A number of other brokerages have also recently commented on AZEK. Robert W. Baird reaffirmed a “neutral” rating and set a $53.00 price target (down previously from $58.00) on shares of AZEK in a research report on Monday. Barclays lifted their target price on AZEK from $58.00 to $64.00 and gave the stock an “overweight” rating in a report on Wednesday, December 11th. 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. JPMorgan Chase & Co. lifted their price objective on shares of AZEK from $48.00 to $58.00 and gave the company an “overweight” rating in a research note on Monday, November 25th. Finally, Royal Bank of Canada increased their price objective on shares of AZEK from $50.00 to $58.00 and gave the stock an “outperform” rating in a research note on Friday, December 13th. Seven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $54.93.

AZEK Stock Up 17.6 %

Shares of AZEK stock opened at $48.67 on Monday. The stock’s fifty day moving average price is $47.39 and its 200 day moving average price is $47.23. AZEK has a 1-year low of $35.48 and a 1-year high of $54.91. The company has a market cap of $6.99 billion, a price-to-earnings ratio of 49.16, a price-to-earnings-growth ratio of 1.91 and a beta of 1.95. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.56 and a quick ratio of 1.19.

AZEK (NYSE:AZEK) last announced its quarterly earnings data 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 net margin of 9.85% and a return on equity of 13.47%. On average, research analysts expect that AZEK will post 1.34 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Jesse G. Singh sold 15,000 shares of the business’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $41.03, for a total value of $615,450.00. Following the completion of the sale, the chief executive officer now 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last 90 days, insiders sold 55,000 shares of company stock valued at $2,518,624. 3.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On AZEK

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Landscape Capital Management L.L.C. acquired a new position in shares of AZEK during the 3rd quarter worth about $256,000. Charles Schwab Investment Management Inc. increased its stake in AZEK by 2.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,145,302 shares of the company’s stock worth $53,600,000 after buying an additional 28,080 shares in the last quarter. Bank of Montreal Can raised its holdings in shares of AZEK by 22.8% during the third quarter. Bank of Montreal Can now owns 196,361 shares of the company’s stock valued at $9,184,000 after acquiring an additional 36,433 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of AZEK by 38.7% in the third quarter. The Manufacturers Life Insurance Company now owns 719,568 shares of the company’s stock valued at $33,676,000 after acquiring an additional 200,746 shares in the last quarter. Finally, FMR LLC boosted its stake in shares of AZEK by 57.9% in the third quarter. FMR LLC now owns 6,811,591 shares of the company’s stock worth $318,782,000 after acquiring an additional 2,497,074 shares during the last quarter. 97.44% of the stock is owned by hedge funds and other 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.