AZEK’s (AZEK) Neutral Rating Reaffirmed at Citigroup

Citigroup reiterated their neutral rating on shares of AZEK (NYSE:AZEK) in a research report sent to investors on Tuesday,Benzinga reports. They currently have a $51.50 price objective on the stock, down from their prior price objective of $61.00.

Several other research firms have also weighed in on AZEK. Royal Bank of Canada upped their target price on shares of AZEK from $50.00 to $58.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. Stephens reaffirmed an “equal weight” rating and set a $58.00 price objective on shares of AZEK in a research note on Monday. William Blair reiterated a “market perform” rating on shares of AZEK in a research note on Monday. BMO Capital Markets increased their price target on AZEK from $54.00 to $57.00 and gave the stock a “market perform” rating in a research report on Monday. Finally, Baird R W downgraded AZEK from a “strong-buy” rating to a “hold” rating in a research report on Monday. Nine research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, AZEK has a consensus rating of “Hold” and an average price target of $54.32.

AZEK Stock Up 0.7 %

Shares of AZEK opened at $48.92 on Tuesday. 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 company has a 50-day moving average price of $47.42 and a two-hundred day moving average price of $47.28. The stock has a market cap of $7.03 billion, a price-to-earnings ratio of 49.41, a P/E/G ratio of 1.91 and a beta of 1.95. AZEK has a 12 month low of $35.48 and a 12 month high of $54.91.

AZEK (NYSE:AZEK) last posted its earnings results on Tuesday, February 4th. The company reported $0.17 EPS for the quarter, topping the consensus estimate of $0.14 by $0.03. AZEK had a return on equity of 13.47% and a net margin of 9.85%. Equities analysts predict that AZEK will post 1.34 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Jesse G. Singh sold 15,000 shares of AZEK stock in a transaction on Monday, March 10th. The shares were sold at an average price of $41.03, for a total transaction of $615,450.00. Following the transaction, the chief executive officer now directly owns 868,765 shares of the company’s stock, valued at $35,645,427.95. This trade represents a 1.70 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Over the last quarter, insiders have sold 55,000 shares of company stock worth $2,518,624. Insiders own 3.20% of the company’s stock.

Institutional Trading of AZEK

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

AZEK Company Profile

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.