William Blair Brokers Lift Earnings Estimates for The AZEK Company Inc. (NYSE:AZEK)

The AZEK Company Inc. (NYSE:AZEK) – Equities researchers at William Blair upped their Q2 2024 earnings estimates for AZEK in a research report issued 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 prior 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.

A number of other equities analysts have also recently commented on the company. TheStreet raised AZEK from a “c+” rating to a “b-” rating in a report on Wednesday, January 31st. BMO Capital Markets upped their price objective on AZEK from $39.00 to $46.00 and gave the stock an “outperform” rating in a research note on Thursday, February 8th. Truist Financial upped their price target on AZEK from $40.00 to $48.00 and gave the stock a “buy” rating in a research note on Wednesday, February 7th. Stifel Nicolaus upped their target price on shares of AZEK from $44.00 to $52.00 and gave the stock a “buy” rating in a research report on Wednesday, February 7th. Finally, Barclays increased their price objective on shares of AZEK from $50.00 to $58.00 and gave the company an “overweight” rating in a report on Thursday, April 4th. Four investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, AZEK has a consensus rating of “Moderate Buy” and an average target price of $42.84.

AZEK Trading Down 0.8 %

Shares of NYSE:AZEK opened at $45.28 on Thursday. The stock’s 50-day simple moving average is $47.78 and its two-hundred day simple moving average is $38.43. The stock has a market capitalization of $6.69 billion, a price-to-earnings ratio of 57.32, a PEG ratio of 1.51 and a beta of 1.92. AZEK has a 52-week low of $23.08 and a 52-week high of $50.78. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.67 and a current ratio of 2.99.

AZEK (NYSE:AZEK) last posted its earnings results on Tuesday, February 6th. The company reported $0.08 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.05. AZEK had a return on equity of 9.61% and a net margin of 8.57%. The business had revenue of $240.44 million during the quarter, compared to analyst estimates of $234.12 million.

Insider Transactions at AZEK

In other AZEK news, CEO Jesse G. Singh sold 13,000 shares of AZEK stock in a transaction on Wednesday, April 10th. The shares were sold at an average price of $48.30, for a total transaction of $627,900.00. Following the sale, the chief executive officer now owns 1,083,444 shares of the company’s stock, valued at approximately $52,330,345.20. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other AZEK news, insider Michelle A. Kasson sold 94,431 shares of the company’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $49.47, for a total value of $4,671,501.57. Following the transaction, the insider now owns 23,544 shares of the company’s stock, valued at $1,164,721.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Jesse G. Singh sold 13,000 shares of the company’s stock in a transaction on Wednesday, April 10th. The stock was sold at an average price of $48.30, for a total value of $627,900.00. Following the transaction, the chief executive officer now owns 1,083,444 shares in the company, valued at $52,330,345.20. The disclosure for this sale can be found here. Insiders sold 130,431 shares of company stock valued at $6,356,622 over the last 90 days. Corporate insiders own 3.10% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Quadrant Capital Group LLC increased its stake in AZEK by 45.9% in the fourth quarter. Quadrant Capital Group LLC now owns 728 shares of the company’s stock valued at $28,000 after purchasing an additional 229 shares during the last quarter. BluePath Capital Management LLC purchased a new stake in AZEK in the 3rd quarter valued at $31,000. Principal Securities Inc. purchased a new position in AZEK during the 4th quarter worth $44,000. Tower Research Capital LLC TRC boosted its stake in shares of AZEK by 726.0% during the first quarter. Tower Research Capital LLC TRC now owns 1,206 shares of the company’s stock worth $29,000 after buying an additional 1,060 shares during the period. Finally, CWM LLC raised its stake in AZEK by 81.3% during the 4th quarter. CWM LLC now owns 2,022 shares of the company’s stock valued at $77,000 after acquiring an additional 907 shares during the last quarter. 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.