AZEK (NYSE:AZEK) Sees Strong Trading Volume After Analyst Upgrade

The AZEK Company Inc. (NYSE:AZEK) shares saw strong trading volume on Tuesday after BMO Capital Markets raised their price target on the stock from $54.00 to $57.00. BMO Capital Markets currently has a market perform rating on the stock. 2,365,247 shares changed hands during trading, an increase of 35% from the previous session’s volume of 1,751,385 shares.The stock last traded at $48.89 and had previously closed at $48.56.

AZEK has been the subject of several other reports. The Goldman Sachs Group lifted their price target on AZEK from $52.00 to $59.00 and gave the company a “buy” rating in a report on Thursday, December 12th. Citigroup upgraded shares of AZEK from a “neutral” rating to a “buy” rating and lifted their target price for the company from $51.00 to $60.00 in a research note on Monday, January 6th. JPMorgan Chase & Co. increased their price target on shares of AZEK from $48.00 to $58.00 and gave the stock an “overweight” rating in a research note on Monday, November 25th. Barclays raised their price target on shares of AZEK from $58.00 to $64.00 and gave the company an “overweight” rating in a report on Wednesday, December 11th. Finally, Royal Bank of Canada upped their price objective on shares of AZEK from $50.00 to $58.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. Nine analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, AZEK currently has a consensus rating of “Hold” and a consensus target price of $54.32.

Insider Transactions at AZEK

In other news, CEO Jesse G. Singh sold 20,387 shares of the firm’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $50.08, for a total value of $1,020,980.96. Following the sale, the chief executive officer now owns 883,765 shares in the company, valued at approximately $44,258,951.20. This trade represents a 2.25 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Over the last ninety days, insiders have sold 55,000 shares of company stock worth $2,518,624. Company insiders own 3.20% of the company’s stock.

Institutional Trading of AZEK

A number of hedge funds have recently bought and sold shares of the stock. Landscape Capital Management L.L.C. bought a new position in shares of AZEK during the 3rd quarter worth about $256,000. Charles Schwab Investment Management Inc. increased its stake in AZEK by 2.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,145,302 shares of the company’s stock valued at $53,600,000 after acquiring an additional 28,080 shares during the period. Bank of Montreal Can raised its holdings in AZEK by 22.8% in the 3rd quarter. Bank of Montreal Can now owns 196,361 shares of the company’s stock valued at $9,184,000 after acquiring an additional 36,433 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of AZEK by 38.7% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 719,568 shares of the company’s stock worth $33,676,000 after acquiring an additional 200,746 shares during the period. Finally, FMR LLC grew its holdings in shares of AZEK by 57.9% during the 3rd quarter. FMR LLC now owns 6,811,591 shares of the company’s stock worth $318,782,000 after purchasing an additional 2,497,074 shares in the last quarter. 97.44% of the stock is owned by institutional investors.

AZEK Trading Up 0.7 %

The business has a 50-day moving average price of $47.42 and a 200-day moving average price of $47.28. The company has a quick ratio of 1.19, a current ratio of 2.56 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $7.03 billion, a P/E ratio of 49.41, a PEG ratio of 1.91 and a beta of 1.95.

AZEK (NYSE:AZEK) last announced its quarterly earnings results on Tuesday, February 4th. The company reported $0.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.03. AZEK had a net margin of 9.85% and a return on equity of 13.47%. Analysts anticipate that The AZEK Company Inc. will post 1.34 earnings per share for the current year.

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.