The AZEK Company Inc. to Post Q2 2024 Earnings of $0.34 Per Share, William Blair Forecasts (NYSE:AZEK)

The AZEK Company Inc. (NYSE:AZEK) – Analysts at William Blair increased their Q2 2024 earnings per share estimates for AZEK in a note issued to investors on Tuesday, April 16th. William Blair analyst R. Merkel now anticipates that the company will post earnings of $0.34 per share for the quarter, up from their previous estimate of $0.31. The consensus estimate for AZEK’s current full-year earnings is $1.02 per share. William Blair also issued estimates for AZEK’s Q3 2024 earnings at $0.30 EPS, Q4 2024 earnings at $0.26 EPS and FY2025 earnings at $1.20 EPS.

AZEK has been the topic of several other reports. TheStreet raised AZEK from a “c+” rating to a “b-” rating in a research note on Wednesday, January 31st. Truist Financial lifted their price target on shares of AZEK from $40.00 to $48.00 and gave the company a “buy” rating in a report on Wednesday, February 7th. Citigroup increased their price objective on shares of AZEK from $46.00 to $50.00 and gave the company a “neutral” rating in a research note on Friday, April 5th. BMO Capital Markets raised their target price on shares of AZEK from $39.00 to $46.00 and gave the company an “outperform” rating in a research report on Thursday, February 8th. Finally, B. Riley upped their price target on shares of AZEK from $40.00 to $50.00 and gave the stock a “buy” rating in a report on Wednesday, February 7th. Four investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, AZEK presently has an average rating of “Moderate Buy” and a consensus price target of $42.84.

AZEK Trading Down 1.3 %

Shares of AZEK opened at $45.62 on Thursday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.67 and a current ratio of 2.99. AZEK has a 52-week low of $23.08 and a 52-week high of $50.78. The firm has a market cap of $6.74 billion, a price-to-earnings ratio of 57.75, a PEG ratio of 1.51 and a beta of 1.92. The business’s fifty day moving average is $47.79 and its 200-day moving average is $38.39.

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. AZEK had a net margin of 8.57% and a return on equity of 9.61%. The business had revenue of $240.44 million for the quarter, compared to analysts’ expectations of $234.12 million.

Hedge Funds Weigh In On AZEK

Several hedge funds have recently made changes to their positions in the stock. Quadrant Capital Group LLC grew its holdings in AZEK by 45.9% during the 4th quarter. Quadrant Capital Group LLC now owns 728 shares of the company’s stock valued at $28,000 after buying an additional 229 shares in the last quarter. Tower Research Capital LLC TRC grew its stake in AZEK by 726.0% during the first quarter. Tower Research Capital LLC TRC now owns 1,206 shares of the company’s stock valued at $29,000 after acquiring an additional 1,060 shares in the last quarter. BluePath Capital Management LLC bought a new stake in AZEK during the 3rd quarter worth approximately $31,000. Principal Securities Inc. purchased a new stake in AZEK in the 4th quarter worth approximately $44,000. Finally, Covestor Ltd boosted its holdings in AZEK by 1,441.8% in the 1st quarter. Covestor Ltd now owns 2,544 shares of the company’s stock valued at $63,000 after purchasing an additional 2,379 shares during the period. 97.44% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Michelle A. Kasson sold 94,431 shares of the company’s 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 transaction, the insider now owns 23,544 shares in the company, valued at $1,164,721.68. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other AZEK news, insider Michelle A. Kasson sold 94,431 shares of the company’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $49.47, for a total transaction of $4,671,501.57. Following the sale, the insider now directly owns 23,544 shares of the company’s stock, valued at $1,164,721.68. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Jesse G. Singh sold 13,000 shares of AZEK stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $45.34, for a total transaction of $589,420.00. Following the completion of the transaction, the chief executive officer now owns 1,184,444 shares of the company’s stock, valued at approximately $53,702,690.96. The disclosure for this sale can be found here. Insiders sold 130,431 shares of company stock valued at $6,356,622 in the last three months. Company insiders own 3.10% 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.