BMO Capital Markets Forecasts Strong Price Appreciation for AZEK (NYSE:AZEK) Stock

AZEK (NYSE:AZEK) had its price target lifted by stock analysts at BMO Capital Markets from $52.00 to $54.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “market perform” rating on the stock. BMO Capital Markets’ target price would suggest a potential upside of 5.06% from the company’s current price.

A number of other research firms have also recently issued reports on AZEK. Truist Financial lifted their price target on shares of AZEK from $52.00 to $57.00 and gave the company a “buy” rating in a research note on Wednesday, November 20th. The Goldman Sachs Group lifted their target price on shares of AZEK from $52.00 to $59.00 and gave the company a “buy” rating in a research report on Thursday, December 12th. JPMorgan Chase & Co. upped their price target on shares of AZEK from $48.00 to $58.00 and gave the stock an “overweight” rating in a research report on Monday, November 25th. Royal Bank of Canada lifted their price objective on AZEK from $50.00 to $58.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. Finally, DA Davidson increased their target price on AZEK from $44.00 to $50.00 and gave the company a “neutral” rating in a report on Wednesday, November 20th. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $54.20.

AZEK Price Performance

Shares of NYSE:AZEK opened at $51.40 on Thursday. The company has a current ratio of 2.17, a quick ratio of 1.14 and a debt-to-equity ratio of 0.32. AZEK has a twelve month low of $35.48 and a twelve month high of $54.91. The company’s 50 day moving average is $50.31 and its 200 day moving average is $46.33. The company has a market cap of $7.35 billion, a PE ratio of 49.42, a price-to-earnings-growth ratio of 2.23 and a beta of 1.94.

AZEK (NYSE:AZEK) last issued its 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 12.68% and a net margin of 10.68%. On average, sell-side analysts forecast that AZEK will post 1.28 EPS for the current year.

Insider Buying and Selling at AZEK

In other AZEK news, CMO Samara Toole sold 1,709 shares of AZEK stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $53.00, for a total transaction of $90,577.00. Following the completion of the sale, the chief marketing officer now directly owns 16,632 shares of the company’s stock, valued at $881,496. The trade was a 9.32 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Jesse G. Singh sold 19,613 shares of the stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $44.98, for a total value of $882,192.74. Following the completion of the transaction, the chief executive officer now owns 904,152 shares in the company, valued at approximately $40,668,756.96. The trade was a 2.12 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 41,322 shares of company stock valued at $2,039,170 in the last quarter. Corporate insiders own 3.20% of the company’s stock.

Institutional Trading of AZEK

Several institutional investors have recently modified their holdings of the stock. Empowered Funds LLC acquired a new stake in AZEK during the 4th quarter worth $27,000. ORG Wealth Partners LLC purchased a new position in shares of AZEK during the third quarter worth about $31,000. Farther Finance Advisors LLC increased its position in shares of AZEK by 183.1% during the third quarter. Farther Finance Advisors LLC now owns 753 shares of the company’s stock worth $35,000 after purchasing an additional 487 shares in the last quarter. Paladin Wealth LLC purchased a new stake in shares of AZEK in the 3rd quarter valued at about $39,000. Finally, GAMMA Investing LLC boosted its position in shares of AZEK by 39.1% in the 4th quarter. GAMMA Investing LLC now owns 851 shares of the company’s stock valued at $40,000 after purchasing an additional 239 shares during the period. Hedge funds and other institutional investors own 97.44% of the company’s stock.

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.