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

AZEK (NYSE:AZEKGet Rating) posted its earnings results on Thursday. The company reported $0.29 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.06, Fidelity Earnings reports. The business had revenue of $395.00 million for the quarter, compared to analyst estimates of $385.73 million. AZEK had a return on equity of 11.08% and a net margin of 8.49%. The firm’s revenue was up 20.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.22 EPS.

AZEK Price Performance

Shares of AZEK stock traded up $1.04 during midday trading on Friday, hitting $21.45. 1,963,483 shares of the company traded hands, compared to its average volume of 2,123,393. The stock has a market cap of $3.33 billion, a price-to-earnings ratio of 29.38, a PEG ratio of 1.46 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. The firm’s fifty day moving average price is $19.14 and its 200-day moving average price is $23.52. AZEK has a 12 month low of $15.52 and a 12 month high of $46.56.

Institutional Investors Weigh In On AZEK

Hedge funds and other institutional investors have recently made changes to their positions in the stock. The Manufacturers Life Insurance Company boosted its position in AZEK by 361.9% during the 1st quarter. The Manufacturers Life Insurance Company now owns 719,384 shares of the company’s stock worth $17,869,000 after buying an additional 563,637 shares during the period. Virtu Financial LLC acquired a new position in shares of AZEK in the 1st quarter worth approximately $234,000. Quantbot Technologies LP acquired a new position in shares of AZEK in the 1st quarter worth approximately $443,000. Royal Bank of Canada lifted its position in shares of AZEK by 127.1% during the 1st quarter. Royal Bank of Canada now owns 362,634 shares of the company’s stock valued at $9,008,000 after acquiring an additional 202,936 shares during the period. Finally, Goldman Sachs Group Inc. lifted its position in shares of AZEK by 0.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,507,783 shares of the company’s stock valued at $62,293,000 after acquiring an additional 15,900 shares during the period. 96.53% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently weighed in on AZEK shares. B. Riley decreased their target price on AZEK from $35.00 to $29.00 in a report on Thursday, May 12th. Bank of America upgraded AZEK from a “neutral” rating to a “buy” rating and reduced their price target for the company from $23.00 to $22.00 in a research note on Friday, June 17th. Barclays reduced their price target on AZEK from $29.00 to $28.00 and set an “overweight” rating for the company in a research note on Thursday, July 14th. BMO Capital Markets reduced their price target on AZEK from $48.00 to $33.00 in a research note on Wednesday, May 11th. Finally, Citigroup reduced their price target on AZEK from $24.00 to $23.00 and set a “buy” rating for the company in a research note on Friday, June 17th. One equities research analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $29.80.

AZEK Company Profile

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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.

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Earnings History for AZEK (NYSE:AZEK)

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