AZEK (NYSE:AZEK) Price Target Lowered to $43.00 at UBS Group

AZEK (NYSE:AZEK) had its price objective trimmed by UBS Group from $47.00 to $43.00 in a research report report published on Thursday, Benzinga reports. The brokerage currently has a neutral rating on the stock.

Several other research analysts have also recently issued reports on the stock. Barclays cut their target price on shares of AZEK from $58.00 to $52.00 and set an overweight rating on the stock in a report on Friday, July 12th. Citigroup reduced their target price on AZEK from $50.00 to $44.00 and set a neutral rating on the stock in a research note on Thursday, July 11th. Robert W. Baird decreased their price objective on shares of AZEK from $60.00 to $58.00 and set an outperform rating for the company in a report on Thursday, May 9th. DA Davidson lowered shares of AZEK from a buy rating to a neutral rating and lowered their price objective for the stock from $57.00 to $44.00 in a report on Wednesday, July 3rd. Finally, Benchmark began coverage on shares of AZEK in a report on Friday, April 19th. They issued a buy rating and a $55.00 target price on the stock. Seven investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average target price of $45.79.

AZEK Price Performance

Shares of AZEK traded down $0.10 during mid-day trading on Thursday, reaching $39.06. 3,072,635 shares of the stock traded hands, compared to its average volume of 1,769,652. The company has a current ratio of 3.40, a quick ratio of 2.21 and a debt-to-equity ratio of 0.42. AZEK has a 1 year low of $25.03 and a 1 year high of $50.78. The company has a market cap of $5.68 billion, a price-to-earnings ratio of 38.29, a price-to-earnings-growth ratio of 1.28 and a beta of 1.88. The firm has a fifty day moving average price of $43.59 and a 200 day moving average price of $45.30.

AZEK (NYSE:AZEK) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.06. AZEK had a net margin of 10.66% and a return on equity of 12.02%. The firm had revenue of $434.40 million for the quarter, compared to analysts’ expectations of $396.89 million. During the same quarter last year, the company posted $0.29 EPS. The business’s quarterly revenue was up 12.1% on a year-over-year basis. As a group, equities research analysts predict that AZEK will post 1.06 earnings per share for the current year.

Insider Buying and Selling at AZEK

In other news, insider Jonathan Skelly sold 12,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 18th. The shares were sold at an average price of $46.72, for a total transaction of $560,640.00. Following the sale, the insider now owns 190,134 shares of the company’s stock, valued at approximately $8,883,060.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other AZEK news, CEO Jesse G. Singh sold 13,000 shares of the stock in a transaction that occurred on Wednesday, July 10th. The stock was sold at an average price of $41.75, for a total transaction of $542,750.00. Following the transaction, the chief executive officer now owns 1,024,444 shares in the company, valued at $42,770,537. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jonathan Skelly sold 12,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 18th. The shares were sold at an average price of $46.72, for a total value of $560,640.00. Following the completion of the sale, the insider now owns 190,134 shares of the company’s stock, valued at $8,883,060.48. The disclosure for this sale can be found here. 3.10% of the stock is currently owned by corporate insiders.

Institutional Trading of AZEK

Institutional investors have recently modified their holdings of the stock. Venturi Wealth Management LLC raised its holdings in shares of AZEK by 58.9% during the first quarter. Venturi Wealth Management LLC now owns 707 shares of the company’s stock valued at $36,000 after acquiring an additional 262 shares during the last quarter. ORG Partners LLC purchased a new stake in AZEK in the first quarter valued at $35,000. Quadrant Capital Group LLC boosted its stake in AZEK by 45.9% during the fourth quarter. Quadrant Capital Group LLC now owns 728 shares of the company’s stock worth $28,000 after buying an additional 229 shares during the period. Whittier Trust Co. acquired a new stake in AZEK in the 1st quarter valued at approximately $37,000. Finally, Principal Securities Inc. purchased a new stake in shares of AZEK in the 4th quarter valued at $44,000. Institutional investors and hedge funds 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.