Wall Street analysts expect The AZEK Company Inc. (NYSE: AZEK – Get Rating) to record sales of $368.59 million for the current fiscal quarter, reports Zacks Investment Research. Seven analysts have released earnings estimates for AZEK, with the lowest sales estimate at $364.00 million and the highest estimate at $373.33 million. AZEK recorded sales of $293.12 million in the same quarter last year, which would indicate a positive growth rate of 25.7% year over year. The company is expected to announce its next quarterly earnings report on Monday, January 1.
On average, analysts expect AZEK to report annual revenue of $1.41 billion in the current fiscal year, with estimates ranging from $1.40 billion to $1.44 billion. For the next fiscal year, analysts expect the company to post sales of $1.57 billion, with estimates ranging from $1.47 billion to $1.65 billion. Zacks sales averages are an average average based on a survey of research companies that track AZEK.
AZEK (NYSE:AZEK – Get Rating) last announced its results on Thursday, February 3. The company reported earnings per share of $0.17 for the quarter, beating consensus analyst estimates of $0.16 by $0.01. The company posted revenue of $259.71 million in the quarter, compared to analyst estimates of $256.70 million. AZEK had a net margin of 8.13% and a return on equity of 10.30%. The company’s quarterly revenue increased by 22.3% compared to the same quarter last year. During the same period of the previous year, the company achieved EPS of $0.14.
Several research analysts have recently weighed in on AZEK shares. Stephens downgraded AZEK shares from an “equal weight” rating to an “overweight” rating and lowered its target price for the stock from $47.00 to $41.00 in a Monday report January 31. JPMorgan Chase & Co. lowered its price target on AZEK shares from $37.00 to $32.00 and set an “overweight” rating for the company in a report released Wednesday. DA Davidson upgraded AZEK shares from a “neutral” rating to a “buy” rating in a report on Tuesday, February 1. B. Riley cut his price target on AZEK shares from $47.00 to $35.00 and set a “buy” rating on the stock in a Wednesday, April 6 research report. Finally, Barclays reduced its target price on AZEK shares from $43.00 to $40.00 in a Thursday, March 31 research report. Two research analysts gave the stock a hold rating and nine gave the company a buy rating. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $38.36.
In other AZEK news, insider Sandra Lamartine bought 965 shares in a trade that took place on Wednesday, March 9. The shares were purchased at an average cost of $26.01 per share, for a total transaction of $25,099.65. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Additionally, director Vernon J. Nagel purchased 4,000 shares of the company in a transaction on Monday, March 7. The shares were purchased at an average price of $25.14 per share, for a total transaction of $100,560.00. Disclosure of this purchase can be found here. Insiders have purchased 32,065 shares of the company valued at $946,833 over the past three months. Company insiders own 3.60% of the company’s shares.
A number of institutional investors and hedge funds have recently changed their positions in the stock. Utah Retirement Systems increased its stake in AZEK by 5.4% during the third quarter. Utah Retirement Systems now owns 5,900 shares of the company worth $216,000 after purchasing an additional 300 shares during the period. Souders Financial Advisors increased its stake in AZEK by 4.4% during the third quarter. Souders Financial Advisors now owns 12,777 shares of the company worth $467,000 after purchasing an additional 537 shares during the period. CIBC Asset Management Inc. increased its position in AZEK shares by 10.1% in the third quarter. CIBC Asset Management Inc. now owns 6,334 shares of the company valued at $231,000 after purchasing an additional 580 shares in the last quarter. CWM LLC purchased a new stake in AZEK stock in Q4 valued at approximately $27,000. Finally, Rafferty Asset Management LLC increased its position in AZEK shares by 1.8% in the 4th quarter. Rafferty Asset Management LLC now owns 36,483 shares of the company valued at $1,687,000 after purchasing an additional 633 shares in the last quarter. 98.69% of the shares are currently held by hedge funds and other institutional investors.
NYSE:AZEK opened at $22.84 on Friday. The company has a debt ratio of 0.32, a current ratio of 2.69 and a quick ratio of 0.91. The company has a market capitalization of $3.54 billion, a price-earnings ratio of 35.69 and a beta of 1.83. AZEK has a one-year low of $21.04 and a one-year high of $51.32. The company has a fifty-day moving average price of $25.80 and a 200-day moving average price of $34.26.
About AZEK (Get an evaluation)
The AZEK Company Inc engages in the design, manufacture and sale of building products for the residential, commercial and industrial markets in the United States. It operates through two segments: Residential and Commercial. The Residential segment designs and manufactures engineered exterior products, which include decking, railing, trim and moldings, and accessories under the TimberTech, AZEK Exteriors, VERSATEX and ULTRALOX brands.
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