Loop Capital Lowers AZEK (NYSE:AZEK) Price Target to $49.00

AZEK (NYSE:AZEK - Get Free Report) had its price objective dropped by Loop Capital from $55.00 to $49.00 in a report issued on Thursday,Benzinga reports. The firm currently has a "hold" rating on the stock. Loop Capital's price target would suggest a potential upside of 5.08% from the stock's previous close.

Several other equities analysts also recently weighed in on the company. Stephens downgraded AZEK from an "overweight" rating to a "mixed" rating in a research note on Monday, March 24th. Raymond James set a $51.50 price objective on shares of AZEK in a research note on Tuesday, March 25th. BMO Capital Markets lifted their price objective on AZEK from $54.00 to $57.00 and gave the company a "market perform" rating in a research note on Monday, March 24th. Robert W. Baird restated a "neutral" rating and set a $53.00 price objective (down previously from $58.00) on shares of AZEK in a research note on Monday, March 24th. Finally, Citigroup restated a "neutral" rating and set a $51.50 price objective (down previously from $61.00) on shares of AZEK in a research note on Tuesday, March 25th. Nine investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $53.53.

AZEK Trading Up 0.5 %

AZEK stock traded up $0.23 during midday trading on Thursday, hitting $46.63. 1,245,710 shares of the company's stock were exchanged, compared to its average volume of 2,160,789. The business has a 50-day simple moving average of $46.15 and a two-hundred day simple moving average of $47.54. AZEK has a 1-year low of $35.48 and a 1-year high of $54.91. The company has a current ratio of 2.56, a quick ratio of 1.19 and a debt-to-equity ratio of 0.31. The stock has a market capitalization of $6.70 billion, a PE ratio of 47.17, a P/E/G ratio of 1.91 and a beta of 1.86.

AZEK (NYSE:AZEK - Get Free Report) last issued its earnings results 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 return on equity of 13.47% and a net margin of 9.85%. On average, sell-side analysts predict that AZEK will post 1.34 EPS for the current fiscal year.

Insider Activity

In other news, CEO Jesse G. Singh sold 15,000 shares of the business's stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $41.03, for a total value of $615,450.00. Following the completion of the transaction, the chief executive officer now directly owns 868,765 shares in the company, valued at approximately $35,645,427.95. The trade was a 1.70 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 3.20% of the company's stock.

Institutional Investors Weigh In On AZEK

A number of institutional investors have recently made changes to their positions in AZEK. GAMMA Investing LLC lifted its holdings in shares of AZEK by 39.1% in the 4th quarter. GAMMA Investing LLC now owns 851 shares of the company's stock worth $40,000 after purchasing an additional 239 shares in the last quarter. Truist Financial Corp raised its position in shares of AZEK by 1.6% in the fourth quarter. Truist Financial Corp now owns 16,706 shares of the company's stock valued at $793,000 after purchasing an additional 255 shares during the period. Investment House LLC lifted its holdings in AZEK by 0.7% during the 4th quarter. Investment House LLC now owns 39,255 shares of the company's stock worth $1,863,000 after purchasing an additional 290 shares in the last quarter. Federated Hermes Inc. boosted its holdings in AZEK by 4.8% in the 4th quarter. Federated Hermes Inc. now owns 6,984 shares of the company's stock valued at $332,000 after purchasing an additional 318 shares during the period. Finally, Smartleaf Asset Management LLC grew its holdings in shares of AZEK by 13.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 3,040 shares of the company's stock worth $146,000 after purchasing an additional 352 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.