AZEK (NYSE:AZEK) Price Target Cut to $23.00 by Analysts at The Goldman Sachs Group

AZEK (NYSE:AZEKGet Rating) had its price objective decreased by equities research analysts at The Goldman Sachs Group from $27.00 to $23.00 in a report issued on Thursday, Stock Target Advisor reports. The firm presently has a “buy” rating on the stock. The Goldman Sachs Group’s price objective would suggest a potential upside of 36.09% from the stock’s previous close.

Other equities research analysts have also issued research reports about the company. Truist Financial lowered their target price on AZEK from $34.00 to $30.00 and set a “buy” rating for the company in a research note on Thursday, June 16th. Stephens set a $20.00 target price on AZEK in a research note on Monday. B. Riley lowered their target price on AZEK from $35.00 to $29.00 in a research note on Thursday, May 12th. Robert W. Baird lowered their target price on AZEK from $30.00 to $28.00 and set an “outperform” rating for the company in a research note on Thursday, June 16th. Finally, Stifel Nicolaus lowered their target price on AZEK from $30.00 to $27.00 in a research note on Thursday, June 16th. One research analyst has rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $30.07.

NYSE:AZEK traded up $0.44 on Thursday, hitting $16.90. 15,118 shares of the stock were exchanged, compared to its average volume of 2,340,155. The stock has a market cap of $2.62 billion, a PE ratio of 23.15, a PEG ratio of 1.10 and a beta of 1.71. The company has a current ratio of 3.00, a quick ratio of 1.28 and a debt-to-equity ratio of 0.34. The stock has a fifty day moving average of $20.38 and a 200-day moving average of $28.77. AZEK has a fifty-two week low of $15.52 and a fifty-two week high of $46.56.

AZEK (NYSE:AZEKGet Rating) last announced its quarterly earnings results on Tuesday, May 10th. The company reported $0.33 EPS for the quarter, topping the consensus estimate of $0.30 by $0.03. The company had revenue of $396.26 million during the quarter, compared to analyst estimates of $368.06 million. AZEK had a return on equity of 11.08% and a net margin of 8.49%. The firm’s revenue was up 35.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.22 earnings per share. As a group, analysts predict that AZEK will post 0.98 earnings per share for the current year.

A number of large investors have recently added to or reduced their stakes in AZEK. Allspring Global Investments Holdings LLC bought a new position in AZEK during the 4th quarter worth approximately $170,251,000. Massachusetts Financial Services Co. MA lifted its holdings in AZEK by 20.0% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 6,906,687 shares of the company’s stock worth $319,365,000 after buying an additional 1,149,893 shares during the last quarter. Wellington Management Group LLP lifted its holdings in AZEK by 920.6% during the 1st quarter. Wellington Management Group LLP now owns 886,633 shares of the company’s stock worth $22,024,000 after buying an additional 799,760 shares during the last quarter. Phoenix Holdings Ltd. bought a new position in AZEK during the 4th quarter worth approximately $36,871,000. Finally, Balyasny Asset Management LLC lifted its holdings in shares of AZEK by 604.3% in the 3rd quarter. Balyasny Asset Management LLC now owns 869,239 shares of the company’s stock worth $31,753,000 after purchasing an additional 745,814 shares during the last quarter. 96.53% of the stock is currently owned by institutional investors.

AZEK Company Profile (Get Rating)

The AZEK Company Inc engages in designing, manufacturing, and selling building products for residential, commercial, and industrial markets in the United States. It operates through two segments: Residential and Commercial. The Residential segment designs and manufactures engineered outdoor living products, which includes decking, railing, trim and moulding, and accessories under the TimberTech, AZEK Exteriors, VERSATEX, and ULTRALOX brand name.

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