AZEK (NYSE:AZEK) Issues Earnings Results, Beats Estimates By $0.06 EPS

AZEK (NYSE:AZEK – Get Rating) posted its quarterly earnings results on Thursday. The company reported $0.29 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.06, Fidelity Earnings reports. AZEK had a return on equity of 11.61% and a net margin of 8.49%. The company had revenue of $395.00 million for the quarter, compared to analysts’ expectations of $385.73 million. During the same period in the previous year, the firm earned $0.22 EPS. The firm’s revenue was up 20.6% compared to the same quarter last year.

AZEK Trading Up 5.1 %

AZEK stock traded up $1.04 during mid-day trading on Friday, hitting $21.45. The company’s stock had a trading volume of 1,970,386 shares, compared to its average volume of 1,751,979. The company has a 50 day moving average of $19.14 and a 200-day moving average of $23.41. The stock has a market cap of $3.33 billion, a PE ratio of 27.86, a P/E/G ratio of 1.47 and a beta of 1.89. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.28 and a current ratio of 3.00. AZEK has a one year low of $15.52 and a one year high of $46.56.

Wall Street Analyst Weigh In

AZEK has been the topic of a number of research reports. Stephens set a $20.00 price objective on AZEK in a research note on Monday, June 20th. The Goldman Sachs Group downgraded AZEK from a “conviction-buy” rating to a “buy” rating and set a $23.00 price objective on the stock. in a research note on Wednesday, July 13th. B. Riley reduced their price objective on AZEK from $35.00 to $29.00 in a research note on Thursday, May 12th. Stifel Nicolaus reduced their price objective on AZEK from $30.00 to $27.00 in a research note on Thursday, June 16th. Finally, Barclays reduced their price objective on AZEK from $29.00 to $28.00 and set an “overweight” rating on the stock in a research note on Thursday, July 14th. One equities research analyst has rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $29.80.

Hedge Funds Weigh In On AZEK

Hedge funds have recently bought and sold shares of the business. PNC Financial Services Group Inc. lifted its holdings in shares of AZEK by 35.2% in the 1st quarter. PNC Financial Services Group Inc. now owns 11,990 shares of the company’s stock worth $299,000 after buying an additional 3,124 shares during the period. Natixis Advisors L.P. purchased a new stake in shares of AZEK in the 1st quarter worth $1,468,000. Bank of Montreal Can lifted its holdings in shares of AZEK by 155.0% in the 1st quarter. Bank of Montreal Can now owns 22,887 shares of the company’s stock worth $602,000 after buying an additional 13,910 shares during the period. MetLife Investment Management LLC purchased a new stake in shares of AZEK in the 1st quarter worth $124,000. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of AZEK by 113.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 724,014 shares of the company’s stock worth $17,989,000 after buying an additional 384,936 shares during the period. Institutional investors own 96.53% of the company’s stock.

About AZEK

(Get Rating)

The AZEK Company Inc engages in designing, manufacturing, and selling building products for residential, commercial, and industrial markets in the United States. It operates through two segments: Residential and Commercial. The Residential segment designs and manufactures engineered outdoor living products, which includes decking, railing, trim and moulding, and accessories under the TimberTech, AZEK Exteriors, VERSATEX, and ULTRALOX brand name.