AZEK (NYSE:AZEK) Given New $49.00 Price Target at Loop Capital

AZEK (NYSE:AZEK - Free Report) had its price objective reduced by Loop Capital from $55.00 to $49.00 in a research note published on Thursday,Benzinga reports. They currently have a hold rating on the stock.

Other research analysts have also issued research reports about the stock. Stephens lowered shares of AZEK from an "overweight" rating to a "mixed" rating in a research report on Monday, March 24th. Robert W. Baird restated a "neutral" rating and set a $53.00 target price (down previously from $58.00) on shares of AZEK in a research note on Monday, March 24th. Barclays cut their price target on AZEK from $64.00 to $53.00 and set an "overweight" rating for the company in a report on Tuesday, April 8th. BMO Capital Markets raised their price objective on shares of AZEK from $54.00 to $57.00 and gave the stock a "market perform" rating in a research note on Monday, March 24th. Finally, Baird R W downgraded shares of AZEK from a "strong-buy" rating to a "hold" rating in a report on Monday, March 24th. Nine equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat, AZEK has an average rating of "Hold" and a consensus price target of $53.53.

AZEK Stock Up 2.9 %

NYSE AZEK traded up $1.34 during trading on Thursday, hitting $47.32. 1,811,036 shares of the company traded hands, compared to its average volume of 2,184,491. The company has a market capitalization of $6.80 billion, a P/E ratio of 47.80, a PEG ratio of 1.91 and a beta of 1.86. The business has a fifty day simple moving average of $45.97 and a 200 day simple moving average of $47.58. AZEK has a 12 month low of $35.48 and a 12 month 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.

AZEK (NYSE:AZEK - Get Free Report) last posted 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%. As a group, sell-side analysts predict that AZEK will post 1.34 EPS for the current year.

Insider Activity at AZEK

In related 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 owns 868,765 shares in the company, valued at $35,645,427.95. The trade was a 1.70 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 3.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On AZEK

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