AZEK (NYSE:AZEK) Earns “Equal Weight” Rating from Stephens

Stephens restated their equal weight rating on shares of AZEK (NYSE:AZEK) in a research note released on Monday, MarketBeat reports. They currently have a $58.00 price target on the stock.

Several other equities analysts have also issued reports on AZEK. Barclays boosted their target price on AZEK from $58.00 to $64.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 11th. Robert W. Baird restated a “neutral” rating and set a $53.00 price objective (down previously from $58.00) on shares of AZEK in a report on Monday. Citigroup upgraded shares of AZEK from a “neutral” rating to a “buy” rating and increased their target price for the stock from $51.00 to $60.00 in a report on Monday, January 6th. JPMorgan Chase & Co. boosted their price target on shares of AZEK from $48.00 to $58.00 and gave the company an “overweight” rating in a report on Monday, November 25th. Finally, BMO Capital Markets upped their price objective on shares of AZEK from $54.00 to $57.00 and gave the company a “market perform” rating in a research report on Monday. Nine analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $54.32.

AZEK Trading Down 0.1 %

Shares of NYSE AZEK opened at $48.96 on Monday. AZEK has a fifty-two week low of $35.48 and a fifty-two week high of $54.91. The firm has a market capitalization of $7.03 billion, a P/E ratio of 49.45, a P/E/G ratio of 1.91 and a beta of 1.95. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.56 and a quick ratio of 1.19. The company’s 50 day simple moving average is $47.41 and its 200 day simple moving average is $47.30.

AZEK (NYSE:AZEK) last posted its quarterly earnings results on Tuesday, February 4th. The company reported $0.17 earnings per share (EPS) 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, analysts predict that AZEK will post 1.34 EPS for the current year.

Insider Activity at AZEK

In other 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 completion of the transaction, the chief executive officer now owns 904,152 shares in the company, valued at $40,668,756.96. This trade represents a 2.12 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In the last quarter, insiders have sold 55,000 shares of company stock valued at $2,518,624. 3.20% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of AZEK. FMR LLC raised its stake in shares of AZEK by 80.7% during the 4th quarter. FMR LLC now owns 12,311,577 shares of the company’s stock worth $584,431,000 after purchasing an additional 5,499,986 shares in the last quarter. Wellington Management Group LLP increased its holdings in AZEK by 33.8% during the third quarter. Wellington Management Group LLP now owns 14,224,410 shares of the company’s stock worth $665,702,000 after buying an additional 3,595,863 shares during the last quarter. Norges Bank bought a new stake in AZEK during the fourth quarter worth $94,987,000. Balyasny Asset Management L.P. lifted its stake in AZEK by 493.6% in the fourth quarter. Balyasny Asset Management L.P. now owns 1,681,629 shares of the company’s stock valued at $79,827,000 after acquiring an additional 1,398,340 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its position in shares of AZEK by 72.7% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,957,094 shares of the company’s stock valued at $92,903,000 after acquiring an additional 823,588 shares during the period. 97.44% of the stock is owned by institutional investors and hedge funds.

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.