AZEK (NYSE:AZEK) Price Target Lowered to $53.00 at Barclays

AZEK (NYSE:AZEK - Get Free Report) had its price target reduced by analysts at Barclays from $64.00 to $53.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has an "overweight" rating on the stock. Barclays's price objective would indicate a potential upside of 11.93% from the company's current price.

Several other analysts have also recently commented on AZEK. William Blair restated a "market perform" rating on shares of AZEK in a report on Monday, March 24th. Robert W. Baird reissued a "neutral" rating and set a $53.00 price objective (down previously from $58.00) on shares of AZEK in a report on Monday, March 24th. Wolfe Research reaffirmed a "peer perform" rating on shares of AZEK in a research note on Wednesday, March 26th. Royal Bank of Canada increased their price target on shares of AZEK from $50.00 to $58.00 and gave the company an "outperform" rating in a research note on Friday, December 13th. Finally, BMO Capital Markets raised their price target on shares of AZEK from $54.00 to $57.00 and gave the company a "market perform" rating in a report on Monday, March 24th. Nine investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, AZEK presently has an average rating of "Hold" and a consensus price target of $53.40.

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AZEK Price Performance

Shares of AZEK traded up $1.09 during trading hours on Tuesday, hitting $47.35. The stock had a trading volume of 3,105,968 shares, compared to its average volume of 2,144,833. AZEK has a 52 week low of $35.48 and a 52 week high of $54.91. The stock has a market capitalization of $6.80 billion, a price-to-earnings ratio of 47.83, a P/E/G ratio of 1.91 and a beta of 1.86. The company's fifty day moving average is $46.40 and its two-hundred day moving average is $47.54. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.56 and a quick ratio of 1.19.

AZEK (NYSE:AZEK - Get Free Report) last issued its quarterly earnings data on Tuesday, February 4th. The company reported $0.17 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.03. AZEK had a net margin of 9.85% and a return on equity of 13.47%. On average, analysts anticipate that AZEK will post 1.34 EPS for the current year.

Insiders Place Their Bets

In other AZEK news, CEO Jesse G. Singh sold 20,387 shares of the firm's stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $50.08, for a total transaction of $1,020,980.96. Following the sale, the chief executive officer now directly owns 883,765 shares in the company, valued at approximately $44,258,951.20. This trade represents a 2.25 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 3.20% of the company's stock.

Institutional Investors Weigh In On AZEK

Large investors have recently made changes to their positions in the stock. State Street Corp boosted its stake in AZEK by 1.9% in the 3rd quarter. State Street Corp now owns 2,451,483 shares of the company's stock worth $114,729,000 after purchasing an additional 45,774 shares during the period. JPMorgan Chase & Co. boosted its position in shares of AZEK by 4.7% during the third quarter. JPMorgan Chase & Co. now owns 1,999,232 shares of the company's stock worth $93,564,000 after buying an additional 90,206 shares during the period. Stifel Financial Corp grew its holdings in shares of AZEK by 24.7% during the third quarter. Stifel Financial Corp now owns 22,481 shares of the company's stock worth $1,052,000 after buying an additional 4,454 shares in the last quarter. Blue Trust Inc. raised its position in AZEK by 94.2% in the 4th quarter. Blue Trust Inc. now owns 1,808 shares of the company's stock valued at $85,000 after buying an additional 877 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in AZEK by 2.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,169,551 shares of the company's stock valued at $55,519,000 after acquiring an additional 24,249 shares in the last quarter. 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.