Truist Financial Lowers AZEK (NYSE:AZEK) Price Target to $52.00

AZEK (NYSE:AZEK) had its price target lowered by Truist Financial from $57.00 to $52.00 in a research note published on Thursday, Benzinga reports. The firm currently has a buy rating on the stock.

Several other research analysts have also commented on the company. Benchmark initiated coverage on AZEK in a research report on Friday, April 19th. They set a buy rating and a $55.00 price target for the company. The Goldman Sachs Group dropped their target price on AZEK from $56.00 to $50.00 and set a buy rating for the company in a research report on Wednesday, July 10th. Loop Capital lowered their price objective on shares of AZEK from $58.00 to $52.00 and set a buy rating for the company in a research note on Thursday, July 11th. Robert W. Baird cut their target price on shares of AZEK from $60.00 to $58.00 and set an outperform rating on the stock in a research note on Thursday, May 9th. Finally, DA Davidson lowered AZEK from a buy rating to a neutral rating and decreased their target price for the company from $57.00 to $44.00 in a report on Wednesday, July 3rd. Seven equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average price target of $45.79.

AZEK Trading Down 0.3 %

Shares of NYSE AZEK traded down $0.10 during mid-day trading on Thursday, reaching $39.06. 3,072,635 shares of the company’s stock were exchanged, compared to its average volume of 1,769,652. The firm has a market capitalization of $5.68 billion, a price-to-earnings ratio of 38.29, a PEG ratio of 1.28 and a beta of 1.88. AZEK has a 52-week low of $25.03 and a 52-week high of $50.78. The company’s 50-day moving average is $43.59 and its 200-day moving average is $45.30. The company has a debt-to-equity ratio of 0.42, a quick ratio of 2.21 and a current ratio of 3.40.

AZEK (NYSE:AZEK) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $0.42 earnings per share for the quarter, beating analysts’ consensus estimates of $0.36 by $0.06. AZEK had a net margin of 10.66% and a return on equity of 12.02%. The business had revenue of $434.40 million during the quarter, compared to analysts’ expectations of $396.89 million. During the same period last year, the business earned $0.29 earnings per share. The business’s revenue for the quarter was up 12.1% on a year-over-year basis. Analysts expect that AZEK will post 1.06 EPS for the current fiscal year.

Insider Transactions at AZEK

In other news, CEO Jesse G. Singh sold 13,000 shares of AZEK stock in a transaction that occurred on Wednesday, July 10th. The stock was sold at an average price of $41.75, for a total transaction of $542,750.00. Following the sale, the chief executive officer now owns 1,024,444 shares of the company’s stock, valued at $42,770,537. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, insider Jonathan Skelly sold 12,000 shares of the stock in a transaction that occurred on Tuesday, June 18th. The shares were sold at an average price of $46.72, for a total value of $560,640.00. Following the completion of the transaction, the insider now directly owns 190,134 shares in the company, valued at $8,883,060.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jesse G. Singh sold 13,000 shares of the stock in a transaction on Wednesday, July 10th. The shares were sold at an average price of $41.75, for a total value of $542,750.00. Following the transaction, the chief executive officer now directly owns 1,024,444 shares of the company’s stock, valued at $42,770,537. The disclosure for this sale can be found here. Insiders own 3.10% of the company’s stock.

Institutional Trading of AZEK

Institutional investors have recently modified their holdings of the company. Quadrant Capital Group LLC lifted its position in shares of AZEK by 45.9% during the 4th quarter. Quadrant Capital Group LLC now owns 728 shares of the company’s stock valued at $28,000 after acquiring an additional 229 shares during the last quarter. ORG Partners LLC acquired a new position in shares of AZEK in the 1st quarter valued at $35,000. Venturi Wealth Management LLC increased its stake in AZEK by 58.9% in the 1st quarter. Venturi Wealth Management LLC now owns 707 shares of the company’s stock worth $36,000 after purchasing an additional 262 shares in the last quarter. Whittier Trust Co. acquired a new stake in AZEK during the 1st quarter worth about $37,000. Finally, Principal Securities Inc. purchased a new position in shares of AZEK in the fourth quarter worth approximately $44,000. 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.