AZEK (NYSE:AZEK) Earns Peer Perform Rating from Wolfe Research

AZEK (NYSE:AZEK)‘s stock had its “peer perform” rating reissued by Wolfe Research in a research note issued to investors on Wednesday, MarketBeat reports.

AZEK has been the subject of several other research reports. 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. William Blair reissued a “market perform” rating on shares of AZEK in a research note on Monday. Baird R W cut shares of AZEK from a “strong-buy” rating to a “hold” rating in a report on Monday. BMO Capital Markets lifted their target price on shares of AZEK from $54.00 to $57.00 and gave the company a “market perform” rating in a report on Monday. Finally, Citigroup restated a “neutral” rating and issued a $51.50 price target (down previously from $61.00) on shares of AZEK in a research note on Tuesday. Nine equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $54.32.

AZEK Price Performance

Shares of NYSE AZEK opened at $49.77 on Wednesday. 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 has a 1 year low of $35.48 and a 1 year high of $54.91. The company’s 50-day moving average is $47.41 and its 200 day moving average is $47.31. The stock has a market capitalization of $7.15 billion, a P/E ratio of 50.27, a P/E/G ratio of 1.91 and a beta of 1.95.

AZEK (NYSE:AZEK) last posted its earnings results on Tuesday, February 4th. The company reported $0.17 earnings per share 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%. On average, sell-side analysts expect that AZEK will post 1.34 earnings per share for the current year.

Insider Buying and Selling at AZEK

In other AZEK news, CEO Jesse G. Singh sold 19,613 shares of the firm’s stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $44.98, for a total value of $882,192.74. Following the transaction, the chief executive officer now directly owns 904,152 shares of the company’s stock, valued at approximately $40,668,756.96. This trade represents a 2.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last ninety days, insiders sold 55,000 shares of company stock worth $2,518,624. Insiders own 3.20% of the company’s stock.

Hedge Funds Weigh In On AZEK

Several institutional investors have recently made changes to their positions in AZEK. Empowered Funds LLC bought a new stake in AZEK during the fourth quarter valued at approximately $27,000. FIL Ltd purchased a new position in shares of AZEK during the 4th quarter worth $28,000. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in shares of AZEK by 623.2% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 687 shares of the company’s stock valued at $33,000 after acquiring an additional 592 shares during the period. Avalon Trust Co purchased a new stake in shares of AZEK in the 4th quarter worth $38,000. Finally, GAMMA Investing LLC raised its holdings in AZEK by 39.1% in 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 period. 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.