AZEK’s (AZEK) Equal Weight Rating Reaffirmed at Stephens

AZEK (NYSE:AZEK)‘s stock had its “equal weight” rating reiterated by investment analysts at Stephens in a report released on Monday,Benzinga reports. They currently have a $58.00 price target on the stock. Stephens’ price target points to a potential upside of 40.15% from the company’s current price.

Several other equities analysts have also commented on the stock. Barclays upped their price objective on shares of AZEK from $58.00 to $64.00 and gave the stock an “overweight” rating in a report on Wednesday, December 11th. BMO Capital Markets boosted their price objective on AZEK from $54.00 to $57.00 and gave the company a “market perform” rating in a report on Monday. The Goldman Sachs Group increased their target price on AZEK from $52.00 to $59.00 and gave the stock a “buy” rating in a research note on Thursday, December 12th. Royal Bank of Canada lifted their target price on AZEK from $50.00 to $58.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. Finally, Citigroup raised shares of AZEK from a “neutral” rating to a “buy” rating and increased their price target for the stock from $51.00 to $60.00 in a research report on Monday, January 6th. Six equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, AZEK has an average rating of “Moderate Buy” and a consensus target price of $54.93.

AZEK Price Performance

AZEK stock opened at $41.39 on Monday. AZEK has a 52-week low of $35.48 and a 52-week high of $54.91. The company has a quick ratio of 1.19, a current ratio of 2.56 and a debt-to-equity ratio of 0.31. The stock has a market cap of $5.95 billion, a price-to-earnings ratio of 41.80, a price-to-earnings-growth ratio of 1.91 and a beta of 1.95. The business has a fifty day moving average of $47.32 and a two-hundred day moving average of $47.18.

AZEK (NYSE:AZEK) last issued its quarterly earnings data on Tuesday, February 4th. The company reported $0.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.14 by $0.03. AZEK had a return on equity of 13.47% and a net margin of 9.85%. As a group, research analysts anticipate that AZEK will post 1.34 earnings per share for the current year.

Insider Buying and Selling at AZEK

In other AZEK news, CEO Jesse G. Singh sold 19,613 shares of the company’s stock in a transaction on Friday, January 10th. The shares were sold at an average price of $44.98, for a total value of $882,192.74. Following the completion of the transaction, the chief executive officer now owns 904,152 shares in the company, valued at $40,668,756.96. This represents a 2.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders have sold 55,000 shares of company stock worth $2,518,624 over the last three months. Insiders own 3.20% of the company’s stock.

Institutional Trading of AZEK

Several institutional investors and hedge funds have recently made changes to their positions in AZEK. FMR LLC grew its stake in AZEK by 80.7% during the 4th quarter. FMR LLC now owns 12,311,577 shares of the company’s stock worth $584,431,000 after buying an additional 5,499,986 shares during the last quarter. Wellington Management Group LLP grew its position in shares of AZEK by 33.8% during the third quarter. Wellington Management Group LLP now owns 14,224,410 shares of the company’s stock worth $665,702,000 after acquiring an additional 3,595,863 shares during the last quarter. Norges Bank acquired a new position in shares of AZEK in the 4th quarter valued at $94,987,000. Balyasny Asset Management L.P. increased its holdings in shares of AZEK by 493.6% in the 4th quarter. Balyasny Asset Management L.P. now owns 1,681,629 shares of the company’s stock valued at $79,827,000 after acquiring an additional 1,398,340 shares during the period. Finally, Arrowstreet Capital Limited Partnership raised its position in AZEK by 72.7% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,957,094 shares of the company’s stock valued at $92,903,000 after purchasing an additional 823,588 shares during the last quarter. 97.44% of the stock is owned by hedge funds and other 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.