AZEK (NYSE:AZEK) Reaches New 52-Week High at $50.75

The AZEK Company Inc. (NYSE:AZEK)’s stock price reached a new 52-week high on Thursday . The company traded as high as $50.75 and last traded at $50.54, with a volume of 243867 shares changing hands. The stock had previously closed at $49.83.

Analyst Upgrades and Downgrades

AZEK has been the subject of a number of analyst reports. Stifel Nicolaus boosted their price target on AZEK from $44.00 to $52.00 and gave the company a “buy” rating in a research note on Wednesday, February 7th. TheStreet raised AZEK from a “c+” rating to a “b-” rating in a research note on Wednesday, January 31st. B. Riley increased their target price on AZEK from $40.00 to $50.00 and gave the company a “buy” rating in a research report on Wednesday, February 7th. BMO Capital Markets lifted their price target on AZEK from $39.00 to $46.00 and gave the company an “outperform” rating in a research note on Thursday, February 8th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $37.00 price objective (down previously from $38.00) on shares of AZEK in a report on Friday, December 8th. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $39.72.

AZEK Price Performance

The firm has a market cap of $7.42 billion, a price-to-earnings ratio of 63.10, a P/E/G ratio of 1.62 and a beta of 1.92. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.67 and a current ratio of 2.99. The business has a 50 day simple moving average of $44.96 and a 200-day simple moving average of $36.52.

AZEK (NYSE:AZEK) last posted its quarterly earnings data on Tuesday, February 6th. The company reported $0.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.03 by $0.05. AZEK had a net margin of 8.57% and a return on equity of 9.61%. The firm had revenue of $240.44 million for the quarter, compared to the consensus estimate of $234.12 million. Equities research analysts expect that The AZEK Company Inc. will post 1.02 earnings per share for the current year.

Insider Activity

In related news, CEO Jesse G. Singh sold 13,000 shares of the company’s stock in a transaction that occurred on Wednesday, January 10th. The stock was sold at an average price of $37.23, for a total value of $483,990.00. Following the transaction, the chief executive officer now owns 1,227,444 shares in the company, valued at $45,697,740.12. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, insider Jonathan Skelly sold 10,000 shares of AZEK stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $46.78, for a total value of $467,800.00. Following the completion of the transaction, the insider now directly owns 180,784 shares in the company, valued at $8,457,075.52. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Jesse G. Singh sold 13,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 10th. The shares were sold at an average price of $37.23, for a total transaction of $483,990.00. Following the completion of the transaction, the chief executive officer now owns 1,227,444 shares of the company’s stock, valued at $45,697,740.12. The disclosure for this sale can be found here. Insiders sold a total of 130,431 shares of company stock valued at $6,212,712 in the last ninety days. 3.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On AZEK

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Sherbrooke Park Advisers LLC grew its holdings in shares of AZEK by 62.8% during the third quarter. Sherbrooke Park Advisers LLC now owns 42,923 shares of the company’s stock worth $1,277,000 after purchasing an additional 16,565 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of AZEK by 7.3% in the 3rd quarter. Vanguard Group Inc. now owns 13,012,414 shares of the company’s stock worth $386,989,000 after acquiring an additional 881,697 shares during the last quarter. Envestnet Portfolio Solutions Inc. purchased a new stake in shares of AZEK in the 3rd quarter valued at $1,731,000. Toroso Investments LLC bought a new position in shares of AZEK during the 3rd quarter valued at $1,557,000. Finally, Invesco Ltd. lifted its stake in AZEK by 46.3% in the third quarter. Invesco Ltd. now owns 2,697,856 shares of the company’s stock worth $80,234,000 after purchasing an additional 853,656 shares during the last quarter. 97.44% of the stock is currently owned by hedge funds and other 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.