William Blair Reaffirms Market Perform Rating for AZEK (NYSE:AZEK)

William Blair restated their market perform rating on shares of AZEK (NYSE:AZEK - Free Report) in a research report report published on Monday morning, MarketBeat Ratings reports.

Other equities research analysts have also issued research reports about the company. Stephens reaffirmed an "equal weight" rating and issued a $58.00 price objective on shares of AZEK in a report on Monday. The Goldman Sachs Group upped their price target on shares of AZEK from $52.00 to $59.00 and gave the stock a "buy" rating in a research note on Thursday, December 12th. Citigroup upgraded shares of AZEK from a "neutral" rating to a "buy" rating and raised their price objective for the company from $51.00 to $60.00 in a research note on Monday, January 6th. Robert W. Baird reaffirmed a "neutral" rating and issued a $53.00 target price (down from $58.00) on shares of AZEK in a report on Monday. Finally, JPMorgan Chase & Co. boosted their price target on AZEK from $48.00 to $58.00 and gave the stock an "overweight" rating in a research note on Monday, November 25th. Nine analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat, AZEK currently has a consensus rating of "Hold" and an average price target of $54.32.

AZEK Stock Performance

AZEK stock traded up $0.08 on Monday, hitting $49.87. The company's stock had a trading volume of 2,029,588 shares, compared to its average volume of 1,901,950. 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 cap of $7.17 billion, a price-to-earnings ratio of 50.38, a price-to-earnings-growth ratio of 1.91 and a beta of 1.95. AZEK has a 1 year low of $35.48 and a 1 year high of $54.91. The firm has a 50 day moving average of $47.41 and a two-hundred day moving average of $47.31.

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AZEK (NYSE:AZEK - Get Free Report) last announced its earnings results on Tuesday, February 4th. The company reported $0.17 earnings per share for the quarter, beating 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%. Equities analysts predict that AZEK will post 1.34 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Jesse G. Singh sold 19,613 shares of the stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $44.98, for a total transaction of $882,192.74. Following the transaction, the chief executive officer now directly owns 904,152 shares in the company, valued at approximately $40,668,756.96. This represents a 2.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders have sold a total of 55,000 shares of company stock valued at $2,518,624 in the last quarter. 3.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On AZEK

A number of large investors have recently bought and sold shares of the stock. Landscape Capital Management L.L.C. purchased a new position in shares of AZEK in the 3rd quarter worth about $256,000. Charles Schwab Investment Management Inc. raised its holdings in AZEK by 2.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,145,302 shares of the company's stock valued at $53,600,000 after buying an additional 28,080 shares during the period. Bank of Montreal Can lifted its position in AZEK by 22.8% during the third quarter. Bank of Montreal Can now owns 196,361 shares of the company's stock valued at $9,184,000 after buying an additional 36,433 shares in the last quarter. The Manufacturers Life Insurance Company grew its stake in AZEK by 38.7% during the third quarter. The Manufacturers Life Insurance Company now owns 719,568 shares of the company's stock worth $33,676,000 after buying an additional 200,746 shares during the period. Finally, FMR LLC increased its position in shares of AZEK by 57.9% in the third quarter. FMR LLC now owns 6,811,591 shares of the company's stock worth $318,782,000 after acquiring an additional 2,497,074 shares in the last quarter. Hedge funds and other 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.