AZEK (NYSE:AZEK) Given New $48.00 Price Target at JPMorgan Chase & Co.

AZEK (NYSE:AZEK) had its target price cut by JPMorgan Chase & Co. from $52.00 to $48.00 in a report published on Tuesday morning, Benzinga reports. They currently have an overweight rating on the stock.

Several other research firms have also recently weighed in on AZEK. BMO Capital Markets lowered their price target on AZEK from $50.00 to $46.00 and set a market perform rating on the stock in a report on Friday, August 9th. Citigroup lowered their target price on AZEK from $50.00 to $44.00 and set a neutral rating on the stock in a report on Thursday, July 11th. Barclays dropped their target price on AZEK from $58.00 to $52.00 and set an overweight rating on the stock in a research report on Friday, July 12th. Royal Bank of Canada reduced their price target on shares of AZEK from $49.00 to $46.00 and set an outperform rating for the company in a research report on Thursday, August 8th. Finally, Robert W. Baird dropped their price objective on shares of AZEK from $60.00 to $58.00 and set an outperform rating on the stock in a report on Thursday, May 9th. Five research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of Moderate Buy and a consensus price target of $48.24.

AZEK Price Performance

NYSE AZEK opened at $41.06 on Tuesday. AZEK has a one year low of $25.03 and a one year high of $50.78. The stock has a 50-day moving average of $43.10 and a 200 day moving average of $45.38. The company has a debt-to-equity ratio of 0.42, a quick ratio of 2.21 and a current ratio of 3.40. The company has a market capitalization of $5.98 billion, a price-to-earnings ratio of 40.25, a PEG ratio of 1.28 and a beta of 1.88.

AZEK (NYSE:AZEK) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.06. The firm had revenue of $434.40 million during the quarter, compared to analyst estimates of $396.89 million. AZEK had a net margin of 10.66% and a return on equity of 12.02%. The business’s revenue for the quarter was up 12.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.29 earnings per share. On average, sell-side analysts forecast that AZEK will post 1.06 EPS for the current year.

Insider Activity at AZEK

In other AZEK news, insider Jonathan Skelly sold 12,000 shares of the stock in a transaction on Tuesday, June 18th. The stock was 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 in the company, valued at approximately $8,883,060.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CEO Jesse G. Singh sold 20,000 shares of the firm’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $41.47, for a total transaction of $829,400.00. Following the completion of the transaction, the chief executive officer now directly owns 186,705 shares of the company’s stock, valued at $7,742,656.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jonathan Skelly sold 12,000 shares of the business’s stock in a transaction on Tuesday, June 18th. The stock was sold at an average price of $46.72, for a total transaction of $560,640.00. Following the completion of the sale, the insider now owns 190,134 shares in the company, valued at approximately $8,883,060.48. The disclosure for this sale can be found here. In the last quarter, insiders have sold 45,000 shares of company stock worth $1,932,790. 3.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On AZEK

Several large investors have recently made changes to their positions in AZEK. Los Angeles Capital Management LLC purchased a new position in AZEK during the 1st quarter valued at approximately $11,683,000. Vanguard Group Inc. grew its holdings in shares of AZEK by 3.2% in the first quarter. Vanguard Group Inc. now owns 13,482,323 shares of the company’s stock valued at $677,082,000 after purchasing an additional 413,297 shares in the last quarter. CANADA LIFE ASSURANCE Co increased its position in AZEK by 180.4% in the first quarter. CANADA LIFE ASSURANCE Co now owns 36,912 shares of the company’s stock worth $1,856,000 after purchasing an additional 23,746 shares during the last quarter. Congress Asset Management Co. MA raised its stake in AZEK by 26.3% during the first quarter. Congress Asset Management Co. MA now owns 237,326 shares of the company’s stock valued at $11,919,000 after purchasing an additional 49,460 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in AZEK by 2.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,092,176 shares of the company’s stock valued at $41,776,000 after purchasing an additional 20,912 shares during the last quarter. 97.44% of the stock is owned by 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.