AZEK (NYSE:AZEK) Price Target Raised to $57.00 at Barclays

AZEK (NYSE:AZEK) had its target price boosted by research analysts at Barclays from $53.00 to $57.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Barclays‘s price objective would suggest a potential upside of 13.25% from the stock’s current price.

Several other analysts have also commented on the stock. Citigroup reissued a “neutral” rating and set a $51.50 price target (down from $61.00) on shares of AZEK in a research report on Tuesday, March 25th. Loop Capital reduced their target price on AZEK from $55.00 to $49.00 and set a “hold” rating on the stock in a research report on Thursday, April 17th. Wolfe Research restated a “peer perform” rating on shares of AZEK in a report on Wednesday, March 26th. Robert W. Baird increased their price objective on AZEK from $48.00 to $52.00 and gave the company a “neutral” rating in a report on Wednesday. Finally, Stephens reduced their price target on shares of AZEK from $58.00 to $53.00 and set an “equal weight” rating for the company in a research report on Thursday. Ten analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $53.93.

AZEK Trading Up 0.9 %

NYSE:AZEK opened at $50.33 on Thursday. The firm has a 50-day simple moving average of $46.43 and a 200-day simple moving average of $48.05. AZEK has a one year low of $35.48 and a one year high of $54.91. The firm has a market cap of $7.23 billion, a P/E ratio of 50.84, a P/E/G ratio of 1.91 and a beta of 1.86. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.19 and a current ratio of 2.56.

AZEK (NYSE:AZEK) last issued its quarterly earnings data on Tuesday, May 6th. The company reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.44 by $0.01. AZEK had a net margin of 9.85% and a return on equity of 13.47%. The company had revenue of $452.23 million during the quarter, compared to the consensus estimate of $444.75 million. During the same quarter in the previous year, the firm posted $0.39 earnings per share. AZEK’s revenue for the quarter was up 8.1% compared to the same quarter last year. Equities analysts anticipate that AZEK will post 1.34 EPS for the current fiscal year.

Insider Activity at AZEK

In other AZEK news, CEO Jesse G. Singh sold 20,387 shares of the stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $50.08, for a total transaction of $1,020,980.96. Following the completion of the transaction, the chief executive officer now owns 883,765 shares of the company’s stock, valued at $44,258,951.20. This represents a 2.25 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 3.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. CenterBook Partners LP boosted its position in AZEK by 125.4% during the first quarter. CenterBook Partners LP now owns 28,632 shares of the company’s stock worth $1,400,000 after acquiring an additional 15,928 shares during the last quarter. ASR Vermogensbeheer N.V. acquired a new position in AZEK in the first quarter valued at approximately $22,235,000. PNC Financial Services Group Inc. boosted its position in shares of AZEK by 21.7% during the 1st quarter. PNC Financial Services Group Inc. now owns 5,815 shares of the company’s stock worth $284,000 after purchasing an additional 1,036 shares during the period. Jefferies Financial Group Inc. purchased a new stake in AZEK in the first quarter valued at approximately $8,435,000. Finally, Alberta Investment Management Corp purchased a new stake in AZEK during the 1st quarter worth approximately $6,967,000. Hedge funds and other institutional investors own 97.44% 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.