FY2024 Earnings Estimate for AZEK Issued By William Blair

The AZEK Company Inc. (NYSE:AZEK - Free Report) - Equities researchers at William Blair issued their FY2024 EPS estimates for shares of AZEK in a note issued to investors on Tuesday, October 15th. William Blair analyst R. Merkel expects that the company will post earnings per share of $1.02 for the year. The consensus estimate for AZEK's current full-year earnings is $1.05 per share. William Blair also issued estimates for AZEK's FY2025 earnings at $1.06 EPS.

AZEK has been the topic of a number of other research reports. Royal Bank of Canada decreased their price objective on AZEK from $49.00 to $46.00 and set an "outperform" rating on the stock in a report on Thursday, August 8th. BMO Capital Markets reduced their price target on AZEK from $50.00 to $46.00 and set a "market perform" rating on the stock in a report on Friday, August 9th. Benchmark reiterated a "buy" rating and set a $55.00 price target on shares of AZEK in a report on Friday, August 9th. Stifel Nicolaus reduced their price target on AZEK from $52.00 to $50.00 and set a "buy" rating on the stock in a report on Thursday, August 8th. Finally, Barclays reduced their price target on AZEK from $58.00 to $52.00 and set an "overweight" rating on the stock in a report on Friday, July 12th. Six research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, AZEK currently has a consensus rating of "Moderate Buy" and a consensus price target of $47.94.

AZEK Price Performance

Shares of NYSE:AZEK traded up $0.41 during midday trading on Friday, reaching $43.86. 849,354 shares of the company's stock traded hands, compared to its average volume of 1,737,166. AZEK has a 1 year low of $25.03 and a 1 year high of $50.78. The company has a market cap of $6.38 billion, a P/E ratio of 42.60, a PEG ratio of 1.10 and a beta of 1.88. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.11 and a current ratio of 3.07. The company has a fifty day simple moving average of $43.37 and a two-hundred day simple moving average of $44.56.

AZEK (NYSE:AZEK - Get Free Report) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $0.42 EPS for the quarter, topping analysts' consensus estimates of $0.36 by $0.06. AZEK had a net margin of 11.35% and a return on equity of 13.38%. The business had revenue of $434.40 million for the quarter, compared to analysts' expectations of $396.89 million. During the same quarter last year, the company earned $0.29 EPS. The business's revenue was up 12.1% on a year-over-year basis.

Insider Activity

In related news, Director Pamela J. Edwards bought 600 shares of the company's stock in a transaction dated Thursday, August 15th. The shares were acquired at an average price of $41.70 per share, with a total value of $25,020.00. Following the completion of the acquisition, the director now owns 8,708 shares in the company, valued at approximately $363,123.60. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other AZEK news, Director Pamela J. Edwards acquired 600 shares of the company's stock in a transaction that occurred on Thursday, August 15th. The shares were purchased at an average price of $41.70 per share, with a total value of $25,020.00. Following the completion of the acquisition, the director now directly owns 8,708 shares of the company's stock, valued at approximately $363,123.60. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Jesse G. Singh sold 20,000 shares of the company's stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $41.47, for a total value of $829,400.00. Following the transaction, the chief executive officer now directly owns 186,705 shares in the company, valued at $7,742,656.35. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 3.10% of the company's stock.

Institutional Trading of AZEK

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Los Angeles Capital Management LLC purchased a new position in AZEK during the first quarter worth about $11,683,000. Vanguard Group Inc. raised its holdings in shares of AZEK by 3.2% in the 1st quarter. Vanguard Group Inc. now owns 13,482,323 shares of the company's stock worth $677,082,000 after purchasing an additional 413,297 shares during the period. CANADA LIFE ASSURANCE Co grew its stake in shares of AZEK by 180.4% in the first quarter. CANADA LIFE ASSURANCE Co now owns 36,912 shares of the company's stock valued at $1,856,000 after buying an additional 23,746 shares in the last quarter. Congress Asset Management Co. MA grew its stake in shares of AZEK by 26.3% in the first quarter. Congress Asset Management Co. MA now owns 237,326 shares of the company's stock valued at $11,919,000 after buying an additional 49,460 shares in the last quarter. Finally, Duality Advisers LP acquired a new stake in shares of AZEK in the first quarter valued at about $1,357,000. 97.44% of the stock is currently owned by hedge funds and other institutional investors.

About AZEK

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.