AZEK (NYSE:AZEK) Given “Neutral” Rating at Robert W. Baird

AZEK (NYSE:AZEK)‘s stock had its “neutral” rating restated by Robert W. Baird in a research note issued on Monday,Benzinga reports. They currently have a $53.00 target price on the stock, down from their prior target price of $58.00. Robert W. Baird’s price objective would indicate a potential upside of 28.07% from the stock’s previous close.

Several other brokerages have also weighed in on AZEK. JPMorgan Chase & Co. increased their price objective on AZEK from $48.00 to $58.00 and gave the company an “overweight” rating in a report on Monday, November 25th. Royal Bank of Canada increased their price objective on AZEK from $50.00 to $58.00 and gave the company an “outperform” rating in a report on Friday, December 13th. BMO Capital Markets increased their price objective on AZEK from $52.00 to $54.00 and gave the company a “market perform” rating in a report on Thursday, February 6th. The Goldman Sachs Group increased their price objective on AZEK from $52.00 to $59.00 and gave the company a “buy” rating in a report on Thursday, December 12th. Finally, Barclays increased their price objective on AZEK from $58.00 to $64.00 and gave the company an “overweight” rating in a report on Wednesday, December 11th. Five equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $54.46.

AZEK Stock Performance

Shares of AZEK stock opened at $41.39 on Monday. The company has a market cap of $5.95 billion, a PE ratio of 41.80, a price-to-earnings-growth ratio of 1.91 and a beta of 1.95. AZEK has a 52 week low of $35.48 and a 52 week high of $54.91. The business has a 50 day moving average price of $47.32 and a 200-day moving average price of $47.18. The company has a quick ratio of 1.19, a current ratio of 2.56 and a debt-to-equity ratio of 0.31.

AZEK (NYSE:AZEK) last issued its quarterly earnings results on Tuesday, February 4th. The company reported $0.17 EPS for the quarter, beating 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%. Equities analysts anticipate that AZEK will post 1.34 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Jesse G. Singh sold 15,000 shares of the stock in a transaction on Monday, March 10th. The stock was sold at an average price of $41.03, for a total value of $615,450.00. Following the sale, the chief executive officer now owns 868,765 shares in the company, valued at approximately $35,645,427.95. This trade represents a 1.70 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Over the last quarter, insiders have sold 55,000 shares of company stock worth $2,518,624. Corporate insiders own 3.20% of the company’s stock.

Institutional Investors Weigh In On AZEK

A number of large investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC raised its position in AZEK by 39.1% during the fourth quarter. GAMMA Investing LLC now owns 851 shares of the company’s stock valued at $40,000 after purchasing an additional 239 shares in the last quarter. Truist Financial Corp raised its position in AZEK by 1.6% during the fourth quarter. Truist Financial Corp now owns 16,706 shares of the company’s stock valued at $793,000 after purchasing an additional 255 shares in the last quarter. Investment House LLC raised its position in AZEK by 0.7% during the fourth quarter. Investment House LLC now owns 39,255 shares of the company’s stock valued at $1,863,000 after purchasing an additional 290 shares in the last quarter. Federated Hermes Inc. increased its holdings in shares of AZEK by 4.8% in the fourth quarter. Federated Hermes Inc. now owns 6,984 shares of the company’s stock worth $332,000 after buying an additional 318 shares during the period. Finally, Smartleaf Asset Management LLC increased its holdings in shares of AZEK by 13.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 3,040 shares of the company’s stock worth $146,000 after buying an additional 352 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.