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

AZEK (NYSE:AZEK) released its earnings results on Wednesday. The company reported $0.42 EPS for the quarter, beating the consensus estimate of $0.36 by $0.06, Briefing.com reports. AZEK had a net margin of 10.66% and a return on equity of 12.02%. The firm had revenue of $434.40 million during the quarter, compared to analysts’ expectations of $396.89 million. During the same period in the prior year, the company earned $0.29 EPS. The business’s quarterly revenue was up 12.1% compared to the same quarter last year. AZEK updated its FY 2024 guidance to EPS and its Q4 2024 guidance to EPS.

AZEK Trading Down 0.3 %

Shares of NYSE AZEK traded down $0.10 during mid-day trading on Friday, hitting $39.06. The company’s stock had a trading volume of 3,072,635 shares, compared to its average volume of 1,769,652. The stock has a market cap of $5.68 billion, a price-to-earnings ratio of 38.29, a price-to-earnings-growth ratio of 1.28 and a beta of 1.88. The company has a debt-to-equity ratio of 0.42, a current ratio of 3.40 and a quick ratio of 2.21. AZEK has a one year low of $25.03 and a one year high of $50.78. The company’s fifty day simple moving average is $43.59 and its 200-day simple moving average is $45.30.

Insider Activity

In related news, CEO Jesse G. Singh sold 13,000 shares of the stock in a transaction that occurred on Wednesday, July 10th. The shares were sold at an average price of $41.75, for a total value of $542,750.00. Following the sale, the chief executive officer now directly owns 1,024,444 shares in the company, valued at approximately $42,770,537. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Jonathan Skelly sold 12,000 shares of the stock in a transaction that occurred on Tuesday, June 18th. The shares were sold at an average price of $46.72, for a total value of $560,640.00. Following the sale, the insider now directly owns 190,134 shares in the company, valued at approximately $8,883,060.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jesse G. Singh sold 13,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 10th. The stock was sold at an average price of $41.75, for a total transaction of $542,750.00. Following the sale, the chief executive officer now owns 1,024,444 shares in the company, valued at $42,770,537. The disclosure for this sale can be found here. Insiders own 3.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. BMO Capital Markets dropped their price objective on shares of AZEK from $50.00 to $46.00 and set a “market perform” rating for the company in a research note on Friday. The Goldman Sachs Group dropped their price objective on shares of AZEK from $56.00 to $50.00 and set a “buy” rating for the company in a research note on Wednesday, July 10th. Robert W. Baird dropped their price objective on shares of AZEK from $60.00 to $58.00 and set an “outperform” rating for the company in a research note on Thursday, May 9th. Stifel Nicolaus dropped their price objective on shares of AZEK from $52.00 to $50.00 and set a “buy” rating for the company in a research note on Thursday. Finally, Barclays dropped their price objective on shares of AZEK from $58.00 to $52.00 and set an “overweight” rating for the company in a research note on Friday, July 12th. Seven analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $45.79.

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.