Benchmark Initiates Coverage on AZEK (NYSE:AZEK)

Benchmark began coverage on shares of AZEK (NYSE:AZEK) in a report published on Friday morning, Marketbeat.com reports. The brokerage issued a buy rating and a $55.00 price target on the stock.

Several other brokerages also recently weighed in on AZEK. TheStreet raised AZEK from a c+ rating to a b- rating in a research report on Wednesday, January 31st. BMO Capital Markets boosted their price target on AZEK from $39.00 to $46.00 and gave the stock an outperform rating in a research note on Thursday, February 8th. Citigroup boosted their price target on AZEK from $46.00 to $50.00 and gave the stock a neutral rating in a research note on Friday, April 5th. Robert W. Baird boosted their price target on AZEK from $52.00 to $60.00 and gave the stock an outperform rating in a research note on Monday, April 8th. Finally, Stifel Nicolaus boosted their price target on AZEK from $44.00 to $52.00 and gave the stock a buy rating in a research note on Wednesday, February 7th. Four research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, AZEK currently has an average rating of Moderate Buy and an average price target of $44.11.

AZEK Stock Performance

NYSE AZEK opened at $45.00 on Friday. The stock has a market cap of $6.65 billion, a price-to-earnings ratio of 56.96, a price-to-earnings-growth ratio of 1.44 and a beta of 1.92. The company has a quick ratio of 1.67, a current ratio of 2.99 and a debt-to-equity ratio of 0.43. AZEK has a fifty-two week low of $23.08 and a fifty-two week high of $50.78. The business has a fifty day moving average of $47.76 and a 200-day moving average of $38.80.

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

Insider Buying and Selling at AZEK

In other AZEK news, CEO Jesse G. Singh sold 13,000 shares of the stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $45.34, for a total value of $589,420.00. Following the completion of the sale, the chief executive officer now owns 1,184,444 shares in the company, valued at approximately $53,702,690.96. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other AZEK news, insider Michelle A. Kasson sold 94,431 shares of the firm’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $49.47, for a total value of $4,671,501.57. Following the sale, the insider now owns 23,544 shares of the company’s stock, valued at approximately $1,164,721.68. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Jesse G. Singh sold 13,000 shares of the firm’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $45.34, for a total transaction of $589,420.00. Following the completion of the sale, the chief executive officer now directly owns 1,184,444 shares in the company, valued at approximately $53,702,690.96. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 130,431 shares of company stock valued at $6,356,622. 3.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On AZEK

A number of large investors have recently modified their holdings of the stock. Quadrant Capital Group LLC raised its holdings in AZEK by 45.9% in the fourth quarter. Quadrant Capital Group LLC now owns 728 shares of the company’s stock worth $28,000 after buying an additional 229 shares during the last quarter. Alliance Wealth Advisors LLC UT raised its holdings in shares of AZEK by 4.1% during the third quarter. Alliance Wealth Advisors LLC UT now owns 13,044 shares of the company’s stock valued at $388,000 after purchasing an additional 515 shares during the last quarter. First Dallas Securities Inc. grew its position in AZEK by 5.8% during the third quarter. First Dallas Securities Inc. now owns 10,050 shares of the company’s stock valued at $299,000 after buying an additional 550 shares during the period. Treasurer of the State of North Carolina grew its position in AZEK by 1.0% during the fourth quarter. Treasurer of the State of North Carolina now owns 58,496 shares of the company’s stock valued at $2,237,000 after buying an additional 570 shares during the period. Finally, Mariner LLC grew its position in AZEK by 4.4% during the third quarter. Mariner LLC now owns 16,398 shares of the company’s stock valued at $488,000 after buying an additional 687 shares during the period. Institutional investors own 97.44% of the company’s stock.

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.