AZEK (NYSE:AZEK) Price Target Cut to $20.00

AZEK (NYSE:AZEK – Get Rating) had its price target trimmed by Royal Bank of Canada from $22.00 to $20.00 in a research note issued to investors on Tuesday, The Fly reports.

Other analysts also recently issued research reports about the stock. Stephens upped their price target on shares of AZEK from $20.00 to $26.00 and gave the company an overweight rating in a report on Monday, August 8th. Barclays reduced their price objective on shares of AZEK from $27.00 to $23.00 and set an overweight rating on the stock in a research note on Tuesday. UBS Group reduced their price objective on shares of AZEK to $26.00 in a research note on Thursday, November 24th. Wedbush reduced their price objective on shares of AZEK from $21.00 to $16.00 and set a neutral rating on the stock in a research note on Tuesday. Finally, Citigroup reduced their price objective on shares of AZEK from $24.00 to $22.00 and set a buy rating on the stock in a research note on Monday, October 10th. Three research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average price target of $23.28.

AZEK Stock Down 0.3 %

Shares of NYSE AZEK opened at $20.15 on Tuesday. AZEK has a 12-month low of $15.12 and a 12-month high of $46.56. The company has a market capitalization of $3.12 billion, a PE ratio of 41.12, a price-to-earnings-growth ratio of 2.33 and a beta of 1.71. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.91 and a quick ratio of 1.39. The firm’s 50-day moving average is $17.56 and its two-hundred day moving average is $18.66.

AZEK (NYSE:AZEK – Get Rating) last announced its quarterly earnings results on Monday, November 28th. The company reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.02). AZEK had a net margin of 5.55% and a return on equity of 9.85%. The business had revenue of $304.63 million during the quarter, compared to analysts’ expectations of $288.91 million. During the same period last year, the company earned $0.31 EPS. The firm’s revenue for the quarter was down 12.0% on a year-over-year basis. Equities analysts anticipate that AZEK will post 0.88 EPS for the current fiscal year.

Institutional Investors Weigh In On AZEK

Several large investors have recently made changes to their positions in the business. Captrust Financial Advisors increased its position in shares of AZEK by 4.6% in the third quarter. Captrust Financial Advisors now owns 25,015 shares of the company’s stock worth $416,000 after acquiring an additional 1,099 shares in the last quarter. BNP Paribas Arbitrage SNC acquired a new stake in shares of AZEK in the third quarter worth $522,000. State Street Corp increased its position in shares of AZEK by 1.3% in the third quarter. State Street Corp now owns 1,681,674 shares of the company’s stock worth $27,949,000 after acquiring an additional 21,306 shares in the last quarter. Jacobs Levy Equity Management Inc. acquired a new stake in shares of AZEK in the third quarter worth $707,000. Finally, Two Sigma Advisers LP increased its position in shares of AZEK by 40.6% in the third quarter. Two Sigma Advisers LP now owns 239,000 shares of the company’s stock worth $3,972,000 after acquiring an additional 69,000 shares in the last quarter. Institutional investors and hedge funds own 96.49% of the company’s stock.

About AZEK

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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.