William Blair Reiterates Market Perform Rating for AZEK (NYSE:AZEK)

AZEK (NYSE:AZEK)‘s stock had its “market perform” rating restated by investment analysts at William Blair in a report released on Monday,Benzinga reports.

Several other equities analysts also recently commented on the company. JPMorgan Chase & Co. boosted their price objective on AZEK from $48.00 to $58.00 and gave the company an “overweight” rating in a research report on Monday, November 25th. BMO Capital Markets boosted their price target on AZEK from $54.00 to $57.00 and gave the stock a “market perform” rating in a report on Monday. Barclays increased their price objective on shares of AZEK from $58.00 to $64.00 and gave the company an “overweight” rating in a report on Wednesday, December 11th. Robert W. Baird reissued a “neutral” rating and issued a $53.00 target price (down previously from $58.00) on shares of AZEK in a report on Monday. Finally, Stephens restated an “equal weight” rating and set a $58.00 target price on shares of AZEK in a research report on Monday. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $54.93.

AZEK Stock Performance

NYSE AZEK traded up $5.81 on Monday, reaching $47.20. 15,681,491 shares of the stock were exchanged, compared to its average volume of 1,709,335. The company has a current ratio of 2.56, a quick ratio of 1.19 and a debt-to-equity ratio of 0.31. AZEK has a one year low of $35.48 and a one year high of $54.91. The firm has a market capitalization of $6.78 billion, a PE ratio of 47.68, a PEG ratio of 1.91 and a beta of 1.95. The company’s 50-day simple moving average is $47.32 and its two-hundred day simple moving average is $47.18.

AZEK (NYSE:AZEK) last announced its quarterly earnings data on Tuesday, February 4th. The company reported $0.17 EPS for the quarter, beating the consensus estimate of $0.14 by $0.03. AZEK had a net margin of 9.85% and a return on equity of 13.47%. Analysts expect that AZEK will post 1.34 EPS for the current fiscal year.

Insider Buying and Selling at AZEK

In other AZEK news, CEO Jesse G. Singh sold 15,000 shares of the business’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $41.03, for a total transaction of $615,450.00. Following the transaction, the chief executive officer now owns 868,765 shares in the company, valued at $35,645,427.95. The trade was a 1.70 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders have sold a total of 55,000 shares of company stock worth $2,518,624 over the last ninety days. Company insiders own 3.20% of the company’s stock.

Hedge Funds Weigh In On AZEK

Several hedge funds have recently added to or reduced their stakes in AZEK. FMR LLC boosted its position in shares of AZEK by 80.7% during the fourth quarter. FMR LLC now owns 12,311,577 shares of the company’s stock valued at $584,431,000 after buying an additional 5,499,986 shares during the period. Wellington Management Group LLP boosted its holdings in AZEK by 33.8% during the 3rd quarter. Wellington Management Group LLP now owns 14,224,410 shares of the company’s stock valued at $665,702,000 after acquiring an additional 3,595,863 shares during the period. Norges Bank bought a new position in AZEK in the 4th quarter valued at $94,987,000. Balyasny Asset Management L.P. grew its position in 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 last quarter. Finally, Arrowstreet Capital Limited Partnership increased its stake in AZEK by 72.7% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,957,094 shares of the company’s stock worth $92,903,000 after purchasing an additional 823,588 shares during the period. 97.44% of the stock is currently 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.