AZEK (NYSE:AZEK) Price Target Cut to $53.00 by Analysts at Barclays

AZEK (NYSE:AZEK) had its target price decreased by Barclays from $64.00 to $53.00 in a research note issued to investors on Tuesday,Benzinga reports. Barclays currently has an overweight rating on the stock.

A number of other brokerages have also issued reports on AZEK. Baird R W cut AZEK from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 24th. Royal Bank of Canada lifted their target price on AZEK from $50.00 to $58.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. Raymond James set a $51.50 price target on shares of AZEK in a report on Tuesday, March 25th. Wolfe Research reiterated a “peer perform” rating on shares of AZEK in a report on Wednesday, March 26th. Finally, BMO Capital Markets raised their target price on shares of AZEK from $54.00 to $57.00 and gave the stock a “market perform” rating in a report on Monday, March 24th. Nine equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, AZEK presently has a consensus rating of “Hold” and a consensus target price of $53.40.

AZEK Trading Down 2.9 %

NYSE:AZEK opened at $43.39 on Tuesday. The stock has a market cap of $6.23 billion, a price-to-earnings ratio of 43.83, a PEG ratio of 1.91 and a beta of 1.86. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.19 and a current ratio of 2.56. AZEK has a 1 year low of $35.48 and a 1 year high of $54.91. The business has a fifty day moving average of $46.71 and a 200-day moving average of $47.53.

AZEK (NYSE:AZEK) last released 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 net margin of 9.85% and a return on equity of 13.47%. Equities analysts predict that AZEK will post 1.34 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Jesse G. Singh sold 15,000 shares of the company’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $41.03, for a total value of $615,450.00. Following the transaction, the chief executive officer now owns 868,765 shares in the company, valued at $35,645,427.95. This represents a 1.70 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In the last ninety days, insiders sold 55,000 shares of company stock worth $2,518,624. 3.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. State Street Corp grew its holdings in shares of AZEK by 1.9% during the 3rd quarter. State Street Corp now owns 2,451,483 shares of the company’s stock valued at $114,729,000 after acquiring an additional 45,774 shares in the last quarter. JPMorgan Chase & Co. grew its stake in AZEK by 4.7% in the third quarter. JPMorgan Chase & Co. now owns 1,999,232 shares of the company’s stock valued at $93,564,000 after purchasing an additional 90,206 shares in the last quarter. Stifel Financial Corp increased 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 during the last quarter. Blue Trust Inc. raised its stake in shares of AZEK by 94.2% during the 4th quarter. Blue Trust Inc. now owns 1,808 shares of the company’s stock worth $85,000 after purchasing an additional 877 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings 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 buying an additional 24,249 shares during the last quarter. Institutional investors and hedge funds 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.