AZEK (NYSE:AZEK) Announces Earnings Results

AZEK (NYSE:AZEKGet Rating) posted its quarterly earnings data on Thursday. The company reported $0.29 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.06, Fidelity Earnings reports. The company had revenue of $395.00 million for the quarter, compared to analyst estimates of $385.73 million. AZEK had a return on equity of 11.61% and a net margin of 8.49%. The business’s revenue was up 20.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.22 earnings per share.

AZEK Stock Up 5.1 %

Shares of NYSE:AZEK traded up $1.04 during mid-day trading on Friday, reaching $21.45. 1,970,386 shares of the stock were exchanged, compared to its average volume of 1,751,979. The company has a quick ratio of 1.28, a current ratio of 3.00 and a debt-to-equity ratio of 0.34. The company has a market cap of $3.33 billion, a P/E ratio of 27.86, a P/E/G ratio of 1.47 and a beta of 1.89. AZEK has a one year low of $15.52 and a one year high of $46.56. The stock’s 50 day simple moving average is $19.14 and its 200-day simple moving average is $23.41.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Wellington Management Group LLP grew its stake in AZEK by 920.6% in the first quarter. Wellington Management Group LLP now owns 886,633 shares of the company’s stock valued at $22,024,000 after purchasing an additional 799,760 shares in the last quarter. The Manufacturers Life Insurance Company grew its stake in AZEK by 361.9% in the first quarter. The Manufacturers Life Insurance Company now owns 719,384 shares of the company’s stock valued at $17,869,000 after purchasing an additional 563,637 shares in the last quarter. First Trust Advisors LP grew its stake in AZEK by 1,539.7% in the first quarter. First Trust Advisors LP now owns 446,962 shares of the company’s stock valued at $11,103,000 after purchasing an additional 419,704 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in AZEK by 113.5% in the first quarter. Dimensional Fund Advisors LP now owns 724,014 shares of the company’s stock valued at $17,989,000 after purchasing an additional 384,936 shares in the last quarter. Finally, Royal Bank of Canada grew its stake in AZEK by 127.1% in the first quarter. Royal Bank of Canada now owns 362,634 shares of the company’s stock valued at $9,008,000 after purchasing an additional 202,936 shares in the last quarter. 96.53% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Truist Financial cut their price target on AZEK from $34.00 to $30.00 and set a “buy” rating on the stock in a research note on Thursday, June 16th. B. Riley cut their price target on AZEK from $35.00 to $29.00 in a research note on Thursday, May 12th. Loop Capital lowered AZEK from a “buy” rating to a “hold” rating and cut their price target for the company from $56.00 to $25.00 in a research note on Monday, April 25th. Citigroup cut their target price on AZEK from $24.00 to $23.00 and set a “buy” rating on the stock in a research note on Friday, June 17th. Finally, Zelman & Associates raised AZEK from a “hold” rating to a “buy” rating in a research note on Wednesday, May 11th. One research analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $29.80.

About AZEK

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The AZEK Company Inc engages in designing, manufacturing, and selling building products for residential, commercial, and industrial markets in the United States. It operates through two segments: Residential and Commercial. The Residential segment designs and manufactures engineered outdoor living products, which includes decking, railing, trim and moulding, and accessories under the TimberTech, AZEK Exteriors, VERSATEX, and ULTRALOX brand name.

See Also

Earnings History for AZEK (NYSE:AZEK)

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