FY2024 EPS Estimates for The AZEK Company Inc. Lifted by William Blair (NYSE:AZEK)

The AZEK Company Inc. (NYSE:AZEK) – Stock analysts at William Blair boosted their FY2024 earnings per share (EPS) estimates for shares of AZEK in a research report issued on Tuesday, April 16th. William Blair analyst R. Merkel now forecasts that the company will post earnings of $1.06 per share for the year, up from their previous forecast of $0.99. The consensus estimate for AZEK’s current full-year earnings is $1.02 per share.

AZEK (NYSE:AZEK) last announced 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 analyst estimates of $234.12 million.

Several other brokerages have also weighed in on AZEK. Stephens lifted their price target on AZEK from $40.00 to $50.00 and gave the company an “overweight” rating in a research note on Wednesday, February 7th. Stifel Nicolaus lifted their price objective on AZEK from $44.00 to $52.00 and gave the stock a “buy” rating in a report on Wednesday, February 7th. Benchmark initiated coverage on AZEK in a report on Friday. They issued a “buy” rating and a $55.00 price objective on the stock. Citigroup lifted their price objective on AZEK from $46.00 to $50.00 and gave the stock a “neutral” rating in a report on Friday, April 5th. Finally, BMO Capital Markets lifted their price objective on AZEK from $39.00 to $46.00 and gave the stock an “outperform” rating in a report on Thursday, February 8th. Four analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $44.11.

AZEK Price Performance

Shares of AZEK stock opened at $44.71 on Friday. The company has a quick ratio of 1.67, a current ratio of 2.99 and a debt-to-equity ratio of 0.43. AZEK has a twelve month low of $23.08 and a twelve month high of $50.78. The business has a 50-day moving average price of $47.77 and a 200 day moving average price of $38.54. The firm has a market cap of $6.60 billion, a PE ratio of 56.59, a P/E/G ratio of 1.49 and a beta of 1.92.

Insider Buying and Selling at AZEK

In other AZEK news, CEO Jesse G. Singh sold 13,000 shares of AZEK stock in a transaction on Wednesday, April 10th. The stock was sold at an average price of $48.30, for a total value of $627,900.00. Following the sale, the chief executive officer now owns 1,083,444 shares in the company, valued at $52,330,345.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Michelle A. Kasson sold 94,431 shares of the business’s stock in a transaction 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 sale, the insider now owns 23,544 shares in the company, valued at approximately $1,164,721.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Jesse G. Singh sold 13,000 shares of the business’s stock in a transaction on Wednesday, April 10th. The shares were sold at an average price of $48.30, for a total value of $627,900.00. Following the completion of the sale, the chief executive officer now owns 1,083,444 shares in the company, valued at approximately $52,330,345.20. The disclosure for this sale can be found here. Insiders have sold 130,431 shares of company stock worth $6,356,622 over the last quarter. 3.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On AZEK

Several institutional investors and hedge funds have recently modified their holdings of the company. Redwood Investments LLC acquired a new position in AZEK during the 4th quarter worth $2,893,000. Lecap Asset Management Ltd. acquired a new position in AZEK during the 4th quarter worth $1,134,000. Sherbrooke Park Advisers LLC grew its stake in AZEK by 62.8% during the 3rd quarter. Sherbrooke Park Advisers LLC now owns 42,923 shares of the company’s stock worth $1,277,000 after purchasing an additional 16,565 shares in the last quarter. Vanguard Group Inc. grew its stake in AZEK by 7.3% during the 3rd quarter. Vanguard Group Inc. now owns 13,012,414 shares of the company’s stock worth $386,989,000 after purchasing an additional 881,697 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. acquired a new position in AZEK during the 3rd quarter worth $1,731,000. Hedge funds and other 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.