Barclays Cuts AZEK (NYSE:AZEK) Price Target to $53.00

AZEK (NYSE:AZEK) had its price objective lowered by Barclays from $64.00 to $53.00 in a research report report published on Tuesday morning,Benzinga reports. Barclays currently has an overweight rating on the stock.

A number of other equities analysts also recently issued reports on AZEK. Wolfe Research reaffirmed a “peer perform” rating on shares of AZEK in a research report on Wednesday, March 26th. Raymond James set a $51.50 target price on AZEK in a research report on Tuesday, March 25th. Baird R W downgraded AZEK from a “strong-buy” rating to a “hold” rating in a report on Monday, March 24th. Royal Bank of Canada upped their price objective on shares of AZEK from $50.00 to $58.00 and gave the company an “outperform” rating in a report on Friday, December 13th. Finally, Robert W. Baird reiterated a “neutral” rating and issued a $53.00 target price (down from $58.00) on shares of AZEK in a research note on Monday, March 24th. Nine analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $53.40.

AZEK Trading Down 2.4 %

Shares of NYSE AZEK opened at $46.28 on Tuesday. The business has a fifty day moving average price of $46.46 and a 200 day moving average price of $47.53. AZEK has a 1-year low of $35.48 and a 1-year high of $54.91. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.56 and a quick ratio of 1.19. The stock has a market capitalization of $6.65 billion, a P/E ratio of 46.74, a price-to-earnings-growth ratio of 1.91 and a beta of 1.86.

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

Insiders Place Their Bets

In other news, CEO Jesse G. Singh sold 15,000 shares of the business’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $41.03, for a total value of $615,450.00. Following the completion of the transaction, the chief executive officer now owns 868,765 shares of the company’s stock, valued at $35,645,427.95. The trade was a 1.70 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 3.20% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Empowered Funds LLC acquired a new stake in shares of AZEK during the 4th quarter worth approximately $27,000. FIL Ltd purchased a new stake in AZEK during the fourth quarter worth $28,000. NBC Securities Inc. acquired a new stake in AZEK during the first quarter valued at $29,000. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in AZEK by 623.2% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 687 shares of the company’s stock valued at $33,000 after buying an additional 592 shares in the last quarter. Finally, Parallel Advisors LLC raised its position in shares of AZEK by 261.4% in the first quarter. Parallel Advisors LLC now owns 683 shares of the company’s stock worth $33,000 after acquiring an additional 494 shares during the period. 97.44% of the stock is currently owned by hedge funds and other institutional investors.

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.