Benchmark Initiates Coverage on AZEK (NYSE:AZEK)

Benchmark assumed coverage on shares of AZEK (NYSE:AZEK) in a research report sent to investors on Friday morning, MarketBeat Ratings reports. The firm issued a buy rating and a $55.00 target price on the stock.

Other analysts have also issued research reports about the company. BMO Capital Markets upped their target price on AZEK from $39.00 to $46.00 and gave the stock an outperform rating in a report on Thursday, February 8th. B. Riley increased their price objective on AZEK from $40.00 to $50.00 and gave the company a buy rating in a report on Wednesday, February 7th. Barclays increased their price objective on AZEK from $50.00 to $58.00 and gave the company an overweight rating in a report on Thursday, April 4th. Stifel Nicolaus increased their price objective on AZEK from $44.00 to $52.00 and gave the company a buy rating in a report on Wednesday, February 7th. Finally, Stephens increased their price objective on AZEK from $40.00 to $50.00 and gave the company an overweight rating in a report on Wednesday, February 7th. Four investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $44.11.

AZEK Stock Performance

AZEK stock opened at $45.00 on Friday. The stock has a market capitalization of $6.65 billion, a PE ratio of 56.96, a price-to-earnings-growth ratio of 1.44 and a beta of 1.92. The company has a current ratio of 2.99, a quick ratio of 1.67 and a debt-to-equity ratio of 0.43. AZEK has a 12-month low of $23.08 and a 12-month high of $50.78. The stock’s 50 day simple moving average is $47.76 and its 200 day simple moving average is $38.80.

AZEK (NYSE:AZEK) last issued its quarterly earnings data on Tuesday, February 6th. The company reported $0.08 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.05. The company had revenue of $240.44 million for the quarter, compared to analysts’ expectations of $234.12 million. AZEK had a return on equity of 9.61% and a net margin of 8.57%. As a group, research analysts forecast that AZEK will post 1.03 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other AZEK news, CEO Jesse G. Singh sold 13,000 shares of the company’s stock in a transaction on Wednesday, April 10th. The stock was sold at an average price of $48.30, for a total transaction of $627,900.00. Following the transaction, the chief executive officer now directly owns 1,083,444 shares in the company, valued at $52,330,345.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Michelle A. Kasson sold 94,431 shares of AZEK stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $49.47, for a total value of $4,671,501.57. Following the completion of the transaction, the insider now directly owns 23,544 shares in the company, valued at $1,164,721.68. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Jesse G. Singh sold 13,000 shares of AZEK stock in a transaction on Wednesday, April 10th. The shares were sold at an average price of $48.30, for a total value of $627,900.00. Following the completion of the transaction, the chief executive officer now owns 1,083,444 shares of the company’s stock, valued at $52,330,345.20. The disclosure for this sale can be found here. Insiders have sold 130,431 shares of company stock worth $6,356,622 over the last ninety days. Corporate insiders own 3.10% of the company’s stock.

Institutional Trading of AZEK

Institutional investors have recently bought and sold shares of the business. AE Wealth Management LLC acquired a new position in AZEK in the 3rd quarter valued at about $467,000. SG Americas Securities LLC increased its position in AZEK by 7.7% during the 3rd quarter. SG Americas Securities LLC now owns 17,236 shares of the company’s stock worth $513,000 after purchasing an additional 1,236 shares during the period. Artemis Investment Management LLP increased its position in AZEK by 17.5% during the 3rd quarter. Artemis Investment Management LLP now owns 1,540,070 shares of the company’s stock worth $45,785,000 after purchasing an additional 229,136 shares during the period. Mach 1 Financial Group LLC acquired a new position in AZEK during the 3rd quarter worth approximately $452,000. Finally, Friedenthal Financial acquired a new position in AZEK during the 3rd quarter worth approximately $708,000. 97.44% of the stock is owned by hedge funds and other institutional investors.

AZEK Company Profile

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.