The AZEK Company Inc. (NYSE:AZEK - Get Free Report) saw unusually-strong trading volume on Monday . Approximately 5,318,542 shares traded hands during trading, an increase of 130% from the previous session's volume of 2,313,690 shares.The stock last traded at $50.30 and had previously closed at $49.51.
Wall Street Analyst Weigh In
A number of research firms have issued reports on AZEK. Wolfe Research reaffirmed a "peer perform" rating on shares of AZEK in a report on Wednesday, March 26th. William Blair restated a "market perform" rating on shares of AZEK in a research note on Monday, March 24th. Barclays lifted their price target on AZEK from $53.00 to $57.00 and gave the stock an "overweight" rating in a research report on Thursday, May 8th. Citigroup reissued a "neutral" rating and issued a $51.50 price objective (down from $61.00) on shares of AZEK in a report on Tuesday, March 25th. Finally, Raymond James set a $51.50 target price on AZEK in a report on Tuesday, March 25th. Ten analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $53.93.
Read Our Latest Stock Analysis on AZEK
AZEK Price Performance
The stock has a market capitalization of $7.60 billion, a PE ratio of 53.35, a P/E/G ratio of 1.91 and a beta of 1.82. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.56 and a quick ratio of 1.19. The stock's fifty day moving average is $48.91 and its 200-day moving average is $48.77.
AZEK (NYSE:AZEK - Get Free Report) last posted its earnings results on Tuesday, May 6th. The company reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.44 by $0.01. AZEK had a net margin of 9.85% and a return on equity of 13.47%. The business had revenue of $452.23 million for the quarter, compared to analyst estimates of $444.75 million. During the same period in the prior year, the company posted $0.39 EPS. The company's revenue for the quarter was up 8.1% on a year-over-year basis. As a group, equities analysts predict that The AZEK Company Inc. will post 1.34 earnings per share for the current fiscal year.
Insider Buying and Selling
In other news, CEO Jesse G. Singh sold 20,000 shares of AZEK stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $51.40, for a total value of $1,028,000.00. Following the sale, the chief executive officer now directly owns 852,765 shares of the company's stock, valued at $43,832,121. The trade was a 2.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 3.20% of the stock is owned by insiders.
Institutional Inflows and Outflows
Several hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of AZEK by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 14,430,833 shares of the company's stock worth $685,032,000 after buying an additional 54,725 shares in the last quarter. FMR LLC grew its position in shares of AZEK by 80.7% in the fourth quarter. FMR LLC now owns 12,311,577 shares of the company's stock valued at $584,431,000 after purchasing an additional 5,499,986 shares in the last quarter. Alliancebernstein L.P. increased its stake in shares of AZEK by 15.0% in the 4th quarter. Alliancebernstein L.P. now owns 3,294,619 shares of the company's stock worth $156,396,000 after acquiring an additional 429,574 shares during the last quarter. Wasatch Advisors LP boosted its holdings in AZEK by 11.6% in the 4th quarter. Wasatch Advisors LP now owns 2,084,014 shares of the company's stock valued at $98,928,000 after purchasing an additional 216,849 shares during the last quarter. Finally, Millennium Management LLC boosted its holdings in AZEK by 217.3% in the 1st quarter. Millennium Management LLC now owns 2,021,778 shares of the company's stock valued at $98,845,000 after purchasing an additional 1,384,667 shares during the last quarter. 97.44% of the stock is owned by institutional investors and hedge funds.
AZEK Company Profile
(
Get Free Report)
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.
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