William Blair Analysts Boost Earnings Estimates for The AZEK Company Inc. (NYSE:AZEK)

The AZEK Company Inc. (NYSE:AZEK - Free Report) - Investment analysts at William Blair upped their Q2 2024 EPS estimates for AZEK in a research note issued to investors on Tuesday, April 16th. William Blair analyst R. Merkel now expects that the company will post earnings per share of $0.34 for the quarter, up from their previous estimate of $0.31. The consensus estimate for AZEK's current full-year earnings is $1.02 per share. William Blair also issued estimates for AZEK's Q3 2024 earnings at $0.30 EPS, Q4 2024 earnings at $0.26 EPS and FY2025 earnings at $1.20 EPS.

AZEK (NYSE:AZEK - Get Free Report) last issued its earnings results on Tuesday, February 6th. The company reported $0.08 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.05. The firm had revenue of $240.44 million for the quarter, compared to analysts' expectations of $234.12 million. AZEK had a net margin of 8.57% and a return on equity of 9.61%.

AZEK has been the topic of several other research reports. Citigroup raised their target price on shares of AZEK from $46.00 to $50.00 and gave the company a "neutral" rating in a report on Friday, April 5th. Barclays raised their price objective on shares of AZEK from $50.00 to $58.00 and gave the stock an "overweight" rating in a report on Thursday, April 4th. Truist Financial raised their price objective on shares of AZEK from $40.00 to $48.00 and gave the stock a "buy" rating in a report on Wednesday, February 7th. Royal Bank of Canada raised their price objective on shares of AZEK from $43.00 to $49.00 and gave the stock an "outperform" rating in a report on Wednesday, February 7th. Finally, B. Riley raised their price objective on shares of AZEK from $40.00 to $50.00 and gave the stock a "buy" rating in a report on Wednesday, February 7th. Four research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $42.84.

AZEK Stock Down 0.8 %

NYSE:AZEK traded down $0.36 during mid-day trading on Thursday, hitting $45.28. The stock had a trading volume of 1,051,313 shares, compared to its average volume of 1,496,795. The stock has a 50-day simple moving average of $47.78 and a two-hundred day simple moving average of $38.43. The company has a market capitalization of $6.69 billion, a PE ratio of 57.32, a PEG ratio of 1.51 and a beta of 1.92. AZEK has a twelve month low of $23.08 and a twelve month high of $50.78. The company has a current ratio of 2.99, a quick ratio of 1.67 and a debt-to-equity ratio of 0.43.

Institutional Investors Weigh In On AZEK

Several institutional investors have recently made changes to their positions in the stock. Quadrant Capital Group LLC raised its stake in shares of AZEK by 45.9% during the 4th quarter. Quadrant Capital Group LLC now owns 728 shares of the company's stock worth $28,000 after buying an additional 229 shares during the last quarter. Alliance Wealth Advisors LLC UT raised its stake in shares of AZEK by 4.1% during the 3rd quarter. Alliance Wealth Advisors LLC UT now owns 13,044 shares of the company's stock worth $388,000 after buying an additional 515 shares during the last quarter. First Dallas Securities Inc. raised its stake in shares of AZEK by 5.8% during the 3rd quarter. First Dallas Securities Inc. now owns 10,050 shares of the company's stock worth $299,000 after buying an additional 550 shares during the last quarter. Stifel Financial Corp raised its stake in shares of AZEK by 5.2% during the 4th quarter. Stifel Financial Corp now owns 11,417 shares of the company's stock worth $437,000 after buying an additional 565 shares during the last quarter. Finally, Treasurer of the State of North Carolina raised its stake in shares of AZEK by 1.0% during the 4th quarter. Treasurer of the State of North Carolina now owns 58,496 shares of the company's stock worth $2,237,000 after buying an additional 570 shares during the last quarter. 97.44% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at AZEK

In related news, insider Jonathan Skelly sold 10,000 shares of AZEK stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $46.78, for a total value of $467,800.00. Following the transaction, the insider now directly owns 180,784 shares in the company, valued at approximately $8,457,075.52. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other AZEK news, insider Jonathan Skelly sold 10,000 shares of the business's stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $46.78, for a total transaction of $467,800.00. Following the sale, the insider now directly owns 180,784 shares in the company, valued at approximately $8,457,075.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Michelle A. Kasson sold 94,431 shares of the business's stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $49.47, for a total transaction of $4,671,501.57. Following the sale, the insider now owns 23,544 shares in the company, valued at $1,164,721.68. The disclosure for this sale can be found here. Insiders have sold a total of 130,431 shares of company stock worth $6,356,622 in the last three months. Insiders own 3.10% of the company's stock.

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.