Wolfe Research Reiterates Peer Perform Rating for AZEK (NYSE:AZEK)

AZEK (NYSE:AZEK)‘s stock had its “peer perform” rating reissued by stock analysts at Wolfe Research in a research report issued to clients and investors on Wednesday,Benzinga reports.

A number of other research firms also recently issued reports on AZEK. BMO Capital Markets raised their price objective on shares of AZEK from $54.00 to $57.00 and gave the stock a “market perform” rating in a report on Monday. Citigroup reaffirmed a “neutral” rating and issued a $51.50 price target (down previously from $61.00) on shares of AZEK in a report on Tuesday. 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. Baird R W lowered AZEK from a “strong-buy” rating to a “hold” rating in a research note on Monday. Finally, Robert W. Baird reiterated a “neutral” rating and set a $53.00 price target (down previously from $58.00) on shares of AZEK in a research note on Monday. Ten research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $54.32.

AZEK Price Performance

Shares of NYSE AZEK opened at $48.92 on Wednesday. The company has a market capitalization of $7.03 billion, a PE ratio of 49.41, a PEG ratio of 1.91 and a beta of 1.95. The company has a quick ratio of 1.19, a current ratio of 2.56 and a debt-to-equity ratio of 0.31. The stock’s 50 day moving average price is $47.42 and its 200-day moving average price is $47.28. AZEK has a twelve month low of $35.48 and a twelve month high of $54.91.

AZEK (NYSE:AZEK) last posted its quarterly earnings data on Tuesday, February 4th. The company reported $0.17 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.03. AZEK had a return on equity of 13.47% and a net margin of 9.85%. On average, equities analysts anticipate that AZEK will post 1.34 EPS for the current year.

Insider Activity at AZEK

In related news, CEO Jesse G. Singh sold 20,387 shares of the stock in a transaction on Monday, February 10th. The stock was sold at an average price of $50.08, for a total value of $1,020,980.96. Following the sale, the chief executive officer now owns 883,765 shares in the company, valued at approximately $44,258,951.20. This trade represents a 2.25 % 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 90 days, insiders sold 55,000 shares of company stock valued at $2,518,624. Corporate insiders own 3.20% of the company’s stock.

Hedge Funds Weigh In On AZEK

Institutional investors have recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. grew its holdings in shares of AZEK by 2.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,145,302 shares of the company’s stock worth $53,600,000 after purchasing an additional 28,080 shares in the last quarter. Bank of Montreal Can grew its stake in AZEK by 22.8% in the 3rd quarter. Bank of Montreal Can now owns 196,361 shares of the company’s stock worth $9,184,000 after buying an additional 36,433 shares in the last quarter. The Manufacturers Life Insurance Company grew its stake in AZEK by 38.7% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 719,568 shares of the company’s stock worth $33,676,000 after buying an additional 200,746 shares in the last quarter. FMR LLC increased its holdings in shares of AZEK by 57.9% in the 3rd quarter. FMR LLC now owns 6,811,591 shares of the company’s stock worth $318,782,000 after buying an additional 2,497,074 shares during the last quarter. Finally, Quantbot Technologies LP purchased a new stake in shares of AZEK during the 3rd quarter valued at $801,000. 97.44% of the stock is currently owned by institutional investors.

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.