Wall Street brokerages forecast The AZEK Company Inc. (NYSE: AZEK) to post earnings per share of $ 0.17 for the current fiscal quarter, according to Zacks. Seven analysts provided earnings estimates for AZEK, with the lowest EPS estimate being $ 0.15 and the highest estimate being $ 0.19. AZEK reported earnings of $ 0.15 per share for the same quarter last year, which would indicate a positive year-over-year growth rate of 13.3%. The company is expected to announce its next quarterly earnings report on Thursday, February 10.
According to Zacks, analysts expect AZEK to report annual earnings of $ 1.17 per share for the current fiscal year, with EPS estimates ranging from $ 1.09 to $ 1.33. For the next fiscal year, analysts expect the company to report earnings of $ 1.40 per share, with EPS estimates ranging from $ 1.32 to $ 1.62. Zacks Investment Research earnings per share averages are an average based on a survey of sell-side analysts who cover AZEK.
AZEK (NYSE: AZEK) last released its quarterly results on Thursday, November 18. The company reported earnings per share of $ 0.32 for the quarter, beating the Zacks’ consensus estimate by $ 0.28 per $ 0.04. The company posted revenue of $ 346.10 million in the quarter, compared to a consensus estimate of $ 329.50 million. AZEK had a net margin of 7.91% and a return on equity of 10.08%. AZEK’s revenue for the quarter increased 31.1% compared to the same quarter last year. During the same period of the previous year, the company posted earnings per share of $ 0.29.
Several research analysts recently commented on the title. Zacks Investment Research downgraded AZEK shares from a “buy” rating to a “hold” rating in a report released on Wednesday, November 24. JPMorgan Chase & Co. upgraded AZEK’s shares from a “neutral” to an “overweight” rating and increased its price target for the share from $ 54.00 to $ 56.00 in a rating of looking for wednesday december 15th. One analyst rated the stock with a conservation rating and seven gave the company’s stock a buy rating. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $ 51.11.
In other AZEK news, Senior Vice President Jonathan Skelly sold 12,000 shares of the company in a trade on Tuesday, November 30. The stock was sold for an average price of $ 39.64, for a total value of $ 475,680.00. The sale was disclosed in a legal file with the Securities & Exchange Commission, accessible through this link. Additionally, insider Scott Vanwinter sold 20,000 shares of the company in a trade on Monday, December 27. The stock was sold for an average price of $ 45.22, for a total value of $ 904,400.00. Disclosure of this sale can be found here. During the last quarter, insiders sold 87,000 shares of the company valued at $ 3,686,930. Company insiders own 4.20% of the company’s shares.
Several hedge funds recently changed their positions to AZEK. BlackRock Inc. strengthened its position in AZEK by 33.6% during the second quarter. BlackRock Inc. now owns 11,969,589 shares of the company valued at $ 508,228,000 after purchasing an additional 3,011,989 shares during the last quarter. Vanguard Group Inc. strengthened its position in AZEK by 15.9% during the second quarter. Vanguard Group Inc. now owns 10,101,637 shares of the company valued at $ 428,916,000 after purchasing an additional 1,387,502 shares in the last quarter. JPMorgan Chase & Co. strengthened its position in AZEK by 59.0% in the second quarter. JPMorgan Chase & Co. now owns 3,301,664 shares of the company valued at $ 140,189,000 after purchasing an additional 1,225,729 shares in the last quarter. Zimmer Partners LP strengthened its position in AZEK by 70.7% during the second quarter. Zimmer Partners LP now owns 2,925,500 shares of the company valued at $ 124,217,000 after purchasing an additional 1,211,635 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA strengthened its position in AZEK by 34.4% during the second quarter. Massachusetts Financial Services Co. MA now owns 4,626,135 shares of the company valued at $ 196,425,000 after purchasing an additional 1,184,327 shares during the last quarter. 94.39% of the shares are currently held by institutional investors and hedge funds.
NYSE: AZEK traded down $ 2.03 during trading hours on Friday, reaching $ 41.65. The stock had a trading volume of 1,345,535 shares, compared to its average volume of 1,015,027. AZEK has a one-year low of $ 33.68 and a one-year high of $ 51.32 . The company has a debt to equity ratio of 0.33, a rapid ratio of 2.02, and a current ratio of 3.12. The company has a market cap of $ 6.45 billion, a price-to-earnings ratio of 69.42 and a beta of 1.47. The company’s 50-day moving average is $ 41.85 and its 200-day moving average is $ 39.95.
The AZEK Company Inc is engaged in the design, manufacture and sale of construction products for the residential and commercial markets in the United States. The company operates in the residential and commercial segments. Its products include specialized decks, tracks, trim, accessories and exteriors; and partitions, lockers and polymer solutions.
Feature article: What is an exchange-traded fund (ETF)?
Get a Free Copy of Zacks’ Research Report on AZEK (AZEK)
For more information on Zacks Investment Research’s research offerings, visit Zacks.com
This instant news alert was powered by storytelling technology and financial data from MarketBeat to provide readers with the fastest, most accurate reports. This story was reviewed by the MarketBeat editorial team before publication. Please send any questions or comments about this story to [email protected]
Should you invest $ 1,000 in AZEK now?
Before you consider AZEK, you’ll want to hear this.
MarketBeat tracks Wall Street’s top-rated and top-performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts quietly whisper to their clients to buy now before the broader market takes hold of … and AZEK was not on the list.
While AZEK currently has a “Buy” rating among analysts, top-rated analysts believe these five stocks are better bets.
See the 5 actions here