BMO Capital Markets Increases AZEK (NYSE:AZEK) Price Target to $57.00

AZEK (NYSE:AZEK) had its price objective lifted by equities research analysts at BMO Capital Markets from $54.00 to $57.00 in a report issued on Monday,Benzinga reports. The brokerage presently has a “market perform” rating on the stock. BMO Capital Markets’ price objective points to a potential upside of 16.52% from the company’s previous close.

Several other research firms have also recently weighed in on AZEK. Robert W. Baird reaffirmed a “neutral” rating and set a $53.00 target price (down from $58.00) on shares of AZEK in a research note on Monday. Royal Bank of Canada raised their price objective on AZEK from $50.00 to $58.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. The Goldman Sachs Group lifted their target price on AZEK from $52.00 to $59.00 and gave the stock a “buy” rating in a report on Thursday, December 12th. JPMorgan Chase & Co. increased their price target on AZEK from $48.00 to $58.00 and gave the company an “overweight” rating in a research note on Monday, November 25th. Finally, Barclays lifted their price objective on AZEK from $58.00 to $64.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 11th. Nine analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, AZEK has a consensus rating of “Hold” and a consensus target price of $54.32.

AZEK Price Performance

Shares of AZEK stock opened at $48.92 on Monday. The company has a market capitalization of $7.03 billion, a price-to-earnings ratio of 49.41, a PEG ratio of 1.91 and a beta of 1.95. 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’s 50-day simple moving average is $47.42 and its 200-day simple moving average is $47.28. AZEK has a 52 week low of $35.48 and a 52 week high of $54.91.

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

Insider Activity

In other news, CEO Jesse G. Singh sold 19,613 shares of the company’s stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $44.98, for a total transaction of $882,192.74. Following the transaction, the chief executive officer now owns 904,152 shares of the company’s stock, valued at approximately $40,668,756.96. This represents a 2.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Over the last quarter, insiders have sold 55,000 shares of company stock valued at $2,518,624. 3.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On AZEK

A number of large investors have recently bought and sold shares of AZEK. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in AZEK by 105.4% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 60,798 shares of the company’s stock worth $2,845,000 after purchasing an additional 31,193 shares during the period. State Street Corp increased its stake in AZEK by 1.9% in the 3rd quarter. State Street Corp now owns 2,451,483 shares of the company’s stock worth $114,729,000 after buying an additional 45,774 shares during the period. JPMorgan Chase & Co. increased its stake in AZEK by 4.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,999,232 shares of the company’s stock worth $93,564,000 after buying an additional 90,206 shares during the period. Advantage Alpha Capital Partners LP bought a new stake in AZEK during the 3rd quarter valued at about $3,253,000. Finally, 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 valued at $1,052,000 after buying an additional 4,454 shares during the period. 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.