BMO Capital Markets Forecasts Strong Price Appreciation for AZEK (NYSE:AZEK) Stock

AZEK (NYSE:AZEK) had its price target lifted by BMO Capital Markets from $52.00 to $54.00 in a report published on Thursday,Benzinga reports. BMO Capital Markets currently has a market perform rating on the stock.

A number of other equities analysts have also recently weighed in on AZEK. Truist Financial upped their price target on AZEK from $52.00 to $57.00 and gave the stock a “buy” rating in a report on Wednesday, November 20th. Robert W. Baird upped their target price on AZEK from $54.00 to $58.00 and gave the stock an “outperform” rating in a research note on Wednesday. Citigroup raised shares of AZEK from a “neutral” rating to a “buy” rating and lifted their price target for the company from $51.00 to $60.00 in a research note on Monday, January 6th. DA Davidson upped their price objective on shares of AZEK from $44.00 to $50.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 20th. Finally, Royal Bank of Canada lifted their target price on shares of AZEK from $50.00 to $58.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $54.20.

AZEK Trading Down 0.9 %

AZEK stock opened at $51.05 on Thursday. The company has a current ratio of 2.17, a quick ratio of 1.14 and a debt-to-equity ratio of 0.32. The firm has a market cap of $7.30 billion, a PE ratio of 49.08, a P/E/G ratio of 2.23 and a beta of 1.94. The stock’s 50 day simple moving average is $50.29 and its two-hundred day simple moving average is $46.36. AZEK has a 12 month low of $35.48 and a 12 month high of $54.91.

AZEK (NYSE:AZEK) last announced its quarterly earnings results on Tuesday, February 4th. The company reported $0.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.14 by $0.03. AZEK had a net margin of 10.68% and a return on equity of 12.68%. Analysts anticipate that AZEK will post 1.28 earnings per share for the current year.

Insider Transactions at AZEK

In other AZEK news, CEO Jesse G. Singh sold 19,613 shares of the business’s stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $44.98, for a total value of $882,192.74. Following the transaction, the chief executive officer now directly owns 904,152 shares in the company, valued at $40,668,756.96. The trade was a 2.12 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CMO Samara Toole sold 1,709 shares of the firm’s stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $53.00, for a total transaction of $90,577.00. Following the sale, the chief marketing officer now owns 16,632 shares of the company’s stock, valued at $881,496. This represents a 9.32 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 41,322 shares of company stock worth $2,039,170 in the last ninety days. Insiders own 3.20% of the company’s stock.

Institutional Investors Weigh In On AZEK

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AZEK. Raymond James Financial Inc. acquired a new stake in shares of AZEK during the 4th quarter worth about $19,436,000. Proficio Capital Partners LLC purchased a new position in AZEK during the fourth quarter worth about $717,000. M&T Bank Corp increased its position in shares of AZEK by 4.1% during the fourth quarter. M&T Bank Corp now owns 15,062 shares of the company’s stock valued at $715,000 after acquiring an additional 589 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of AZEK by 2.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,169,551 shares of the company’s stock valued at $55,519,000 after acquiring an additional 24,249 shares during the period. Finally, Norden Group LLC lifted its holdings in shares of AZEK by 2.4% in the 4th quarter. Norden Group LLC now owns 21,204 shares of the company’s stock worth $1,007,000 after acquiring an additional 496 shares during the last quarter. Hedge funds and other institutional investors 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.