AZEK (NYSE:AZEK) Now Covered by Benchmark

Research analysts at Benchmark assumed coverage on shares of AZEK (NYSE:AZEK) in a research note issued on Friday, Briefing.com reports. The brokerage set a “buy” rating and a $55.00 price target on the stock. Benchmark’s price target suggests a potential upside of 21.47% from the company’s previous close.

Several other research firms also recently weighed in on AZEK. Stifel Nicolaus increased their price target on AZEK from $44.00 to $52.00 and gave the stock a “buy” rating in a research note 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 note on Thursday, February 8th. Barclays raised their target price on AZEK from $50.00 to $58.00 and gave the stock an “overweight” rating in a research note on Thursday, April 4th. B. Riley raised their target price on AZEK from $40.00 to $50.00 and gave the stock a “buy” rating in a research note on Wednesday, February 7th. Finally, Robert W. Baird raised their target price on AZEK from $52.00 to $60.00 and gave the stock an “outperform” rating in a research note on Monday, April 8th. Four research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat, AZEK presently has an average rating of “Moderate Buy” and an average target price of $43.45.

AZEK Stock Down 0.8 %

Shares of NYSE:AZEK opened at $45.28 on Friday. The company has a market capitalization of $6.69 billion, a PE ratio of 57.32, a price-to-earnings-growth ratio of 1.51 and a beta of 1.92. 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 two-hundred day moving average price of $38.43. AZEK has a 1 year low of $23.08 and a 1 year high of $50.78.

AZEK (NYSE:AZEK) last posted its quarterly earnings results on Tuesday, February 6th. The company reported $0.08 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.05. The company had revenue of $240.44 million during the quarter, compared to the consensus estimate of $234.12 million. AZEK had a return on equity of 9.61% and a net margin of 8.57%. Analysts forecast that AZEK will post 1.02 earnings per share for the current year.

Insider Activity at AZEK

In related news, CEO Jesse G. Singh sold 13,000 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $45.34, for a total transaction of $589,420.00. Following the transaction, the chief executive officer now directly owns 1,184,444 shares in the company, valued at approximately $53,702,690.96. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, CEO Jesse G. Singh sold 13,000 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $45.34, for a total transaction of $589,420.00. Following the transaction, the chief executive officer now directly owns 1,184,444 shares in the company, valued at approximately $53,702,690.96. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, 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 value of $4,671,501.57. Following the completion of the sale, the insider now owns 23,544 shares in the company, valued at $1,164,721.68. The disclosure for this sale can be found here. In the last three months, insiders have sold 130,431 shares of company stock valued at $6,356,622. Corporate insiders own 3.10% of the company’s stock.

Institutional Investors Weigh In On AZEK

Several hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of AZEK by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 13,069,026 shares of the company’s stock valued at $499,890,000 after purchasing an additional 56,612 shares in the last quarter. Wellington Management Group LLP raised its stake in AZEK by 0.3% during the fourth quarter. Wellington Management Group LLP now owns 12,152,986 shares of the company’s stock valued at $464,852,000 after buying an additional 42,132 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of AZEK by 7.3% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 7,632,693 shares of the company’s stock worth $291,951,000 after purchasing an additional 516,523 shares during the last quarter. BlackRock Inc. raised its stake in shares of AZEK by 15.6% in the second quarter. BlackRock Inc. now owns 6,899,713 shares of the company’s stock worth $208,992,000 after purchasing an additional 929,341 shares during the last quarter. Finally, Morgan Stanley raised its stake in shares of AZEK by 272.4% in the fourth quarter. Morgan Stanley now owns 3,973,475 shares of the company’s stock worth $80,741,000 after purchasing an additional 2,906,460 shares during the last quarter. 97.44% of the stock is currently owned by institutional investors.

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.