The AZEK Company Inc. to Post FY2024 Earnings of $1.06 Per Share, William Blair Forecasts (NYSE:AZEK)

The AZEK Company Inc. (NYSE:AZEK) – Investment analysts at William Blair lifted their FY2024 earnings per share estimates for AZEK in a research note issued on Tuesday, April 16th. William Blair analyst R. Merkel now expects that the company will earn $1.06 per share for the year, up from their prior estimate of $0.99. The consensus estimate for AZEK’s current full-year earnings is $1.02 per share.

AZEK (NYSE:AZEK) last issued its quarterly earnings results on Tuesday, February 6th. The company reported $0.08 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.05. AZEK had a return on equity of 9.61% and a net margin of 8.57%. The firm had revenue of $240.44 million during the quarter, compared to the consensus estimate of $234.12 million.

Several other equities research analysts have also recently commented on the company. Truist Financial increased their price objective on AZEK from $40.00 to $48.00 and gave the company a “buy” rating in a research report on Wednesday, February 7th. Stephens increased their price objective on AZEK from $40.00 to $50.00 and gave the company an “overweight” rating in a research report on Wednesday, February 7th. Robert W. Baird increased their price objective on AZEK from $52.00 to $60.00 and gave the company an “outperform” rating in a research report on Monday, April 8th. BMO Capital Markets increased their price objective on AZEK from $39.00 to $46.00 and gave the company an “outperform” rating in a research report on Thursday, February 8th. Finally, Royal Bank of Canada increased their price objective on AZEK from $43.00 to $49.00 and gave the company an “outperform” rating in a research report on Wednesday, February 7th. Four equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $43.45.

AZEK Price Performance

Shares of NYSE:AZEK opened at $45.28 on Friday. AZEK has a 1-year low of $23.08 and a 1-year high of $50.78. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.99 and a quick ratio of 1.67. The business has a fifty day moving average price of $47.78 and a 200-day moving average price of $38.43. The company has a market capitalization of $6.69 billion, a PE ratio of 57.32, a PEG ratio of 1.49 and a beta of 1.92.

Insider Activity

In other news, insider Jonathan Skelly sold 10,000 shares of AZEK stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $46.78, for a total transaction of $467,800.00. Following the transaction, the insider now directly owns 180,784 shares of the company’s stock, valued at approximately $8,457,075.52. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, insider Michelle A. Kasson sold 94,431 shares of AZEK stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $49.47, for a total transaction of $4,671,501.57. Following the sale, the insider now owns 23,544 shares of the company’s stock, valued at approximately $1,164,721.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jonathan Skelly sold 10,000 shares of AZEK stock in a transaction that occurred 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 sale, the insider now directly owns 180,784 shares in the company, valued at approximately $8,457,075.52. The disclosure for this sale can be found here. Insiders have sold a total of 130,431 shares of company stock valued at $6,356,622 in the last ninety days. Corporate insiders own 3.10% of the company’s stock.

Institutional Trading of AZEK

Large investors have recently added to or reduced their stakes in the company. Quadrant Capital Group LLC increased its stake in AZEK by 45.9% in the 4th quarter. Quadrant Capital Group LLC now owns 728 shares of the company’s stock worth $28,000 after acquiring an additional 229 shares during the last quarter. BluePath Capital Management LLC bought a new stake in AZEK in the 3rd quarter worth approximately $31,000. Principal Securities Inc. purchased a new position in shares of AZEK in the 4th quarter worth approximately $44,000. Tower Research Capital LLC TRC boosted its holdings in shares of AZEK by 726.0% in the 1st quarter. Tower Research Capital LLC TRC now owns 1,206 shares of the company’s stock worth $29,000 after purchasing an additional 1,060 shares during the period. Finally, CWM LLC boosted its holdings in shares of AZEK by 81.3% in the 4th quarter. CWM LLC now owns 2,022 shares of the company’s stock worth $77,000 after purchasing an additional 907 shares during the period. 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.