AZEK (NYSE:AZEK) Upgraded by Citigroup to “Buy” Rating

Citigroup upgraded shares of AZEK (NYSE:AZEK) from a neutral rating to a buy rating in a research report released on Monday, Marketbeat reports. They currently have $60.00 price objective on the stock, up from their prior price objective of $51.00.

AZEK has been the subject of a number of other reports. DA Davidson increased their price target on shares of AZEK from $44.00 to $50.00 and gave the company a “neutral” rating in a report on Wednesday, November 20th. JPMorgan Chase & Co. lifted their target price on AZEK from $48.00 to $58.00 and gave the stock an “overweight” rating in a research report on Monday, November 25th. Benchmark reaffirmed a “buy” rating and issued a $55.00 price target on shares of AZEK in a report on Thursday, November 21st. Barclays lifted their price objective on AZEK from $58.00 to $64.00 and gave the stock an “overweight” rating in a report on Wednesday, December 11th. Finally, Royal Bank of Canada upped their target price on AZEK from $50.00 to $58.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $53.73.

AZEK Stock Performance

AZEK opened at $48.57 on Monday. The company has a quick ratio of 1.14, a current ratio of 2.17 and a debt-to-equity ratio of 0.32. The stock’s 50 day moving average price is $49.36 and its two-hundred day moving average price is $45.30. The firm has a market capitalization of $6.95 billion, a P/E ratio of 46.70, a price-to-earnings-growth ratio of 2.40 and a beta of 1.94. AZEK has a 12-month low of $35.48 and a 12-month high of $54.91.

Insider Activity at AZEK

In other news, CMO Samara Toole sold 1,709 shares of the stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $53.00, for a total transaction of $90,577.00. Following the sale, the chief marketing officer now directly owns 16,632 shares of the company’s stock, valued at $881,496. This represents a 9.32 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Jesse G. Singh sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $53.32, for a total transaction of $1,066,400.00. Following the completion of the transaction, the chief executive officer now owns 923,765 shares of the company’s stock, valued at $49,255,149.80. This trade represents a 2.12 % decrease in their position. The disclosure for this sale can be found here. Insiders own 3.10% of the company’s stock.

Institutional Trading of AZEK

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. ORG Wealth Partners LLC acquired a new stake in shares of AZEK during the 3rd quarter worth approximately $31,000. Farther Finance Advisors LLC boosted its stake in AZEK by 183.1% in the third quarter. Farther Finance Advisors LLC now owns 753 shares of the company’s stock valued at $35,000 after acquiring an additional 487 shares during the last quarter. Paladin Wealth LLC acquired a new stake in AZEK during the 3rd quarter worth $39,000. GAMMA Investing LLC raised its position in shares of AZEK by 39.1% during the 4th quarter. GAMMA Investing LLC now owns 851 shares of the company’s stock valued at $40,000 after acquiring an additional 239 shares during the last quarter. Finally, Blue Trust Inc. lifted its stake in shares of AZEK by 106.4% in the 3rd quarter. Blue Trust Inc. now owns 931 shares of the company’s stock valued at $44,000 after purchasing an additional 480 shares during the period. 97.44% of the stock is owned by institutional investors.

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.