AZEK (NYSE:AZEK) Price Target Cut to $58.00 by Analysts at Robert W. Baird

AZEK (NYSE:AZEK) had its target price decreased by equities researchers at Robert W. Baird from $60.00 to $58.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Robert W. Baird’s price objective indicates a potential upside of 29.15% from the stock’s previous close.

A number of other equities analysts have also weighed in on AZEK. B. Riley boosted their target price on AZEK from $40.00 to $50.00 and gave the stock a “buy” rating in a research report on Wednesday, February 7th. Stephens upped 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. BMO Capital Markets raised their target price on AZEK from $39.00 to $46.00 and gave the stock an “outperform” rating in a research report on Thursday, February 8th. Royal Bank of Canada increased their price objective on shares of AZEK from $43.00 to $49.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 7th. Finally, Benchmark started coverage on shares of AZEK in a report on Friday, April 19th. They set a “buy” rating and a $55.00 target price for the company. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $44.83.

AZEK Stock Performance

Shares of AZEK stock opened at $44.91 on Thursday. The company has a current ratio of 2.99, a quick ratio of 1.67 and a debt-to-equity ratio of 0.43. The stock has a market cap of $6.63 billion, a PE ratio of 56.85, a price-to-earnings-growth ratio of 1.50 and a beta of 1.93. The company’s fifty day moving average price is $47.78 and its 200-day moving average price is $40.28. AZEK has a 12 month low of $23.08 and a 12 month high of $50.78.

AZEK (NYSE:AZEK) last announced its quarterly earnings data on Tuesday, February 6th. The company reported $0.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.03 by $0.05. The business had revenue of $240.44 million during the quarter, compared to analysts’ expectations of $234.12 million. AZEK had a return on equity of 9.61% and a net margin of 8.57%. On average, equities analysts expect that AZEK will post 1.03 EPS for the current fiscal year.

Insider Activity at AZEK

In related news, insider Jonathan Skelly sold 10,000 shares of the company’s 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 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 is available through this hyperlink. 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 completion of the transaction, the insider now directly owns 23,544 shares in the company, valued at $1,164,721.68. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Jonathan Skelly sold 10,000 shares of AZEK stock in a transaction that occurred on Friday, February 23rd. The shares were 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 $8,457,075.52. The disclosure for this sale can be found here. Insiders sold 130,431 shares of company stock worth $6,356,622 in the last 90 days. 3.10% of the stock is owned by corporate insiders.

Institutional Trading of AZEK

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in AZEK by 27.1% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 27,098 shares of the company’s stock worth $806,000 after buying an additional 5,776 shares in the last quarter. Congress Wealth Management LLC DE increased its position in AZEK by 27.4% during the third quarter. Congress Wealth Management LLC DE now owns 75,407 shares of the company’s stock worth $2,243,000 after purchasing an additional 16,229 shares during the last quarter. Jennison Associates LLC raised its stake in AZEK by 35.3% during the third quarter. Jennison Associates LLC now owns 25,873 shares of the company’s stock worth $769,000 after purchasing an additional 6,749 shares during the period. Teacher Retirement System of Texas grew its stake in shares of AZEK by 31.0% in the 3rd quarter. Teacher Retirement System of Texas now owns 11,943 shares of the company’s stock valued at $355,000 after buying an additional 2,826 shares during the period. Finally, Orion Portfolio Solutions LLC increased its holdings in shares of AZEK by 13.1% during the 3rd quarter. Orion Portfolio Solutions LLC now owns 9,062 shares of the company’s stock worth $270,000 after buying an additional 1,049 shares during the last quarter. Hedge funds and other institutional investors own 97.44% of the company’s stock.

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.