The AZEK Company Inc. (NYSE:AZEK) Receives Average Rating of “Moderate Buy” from Brokerages

The AZEK Company Inc. (NYSE:AZEK) has earned a consensus rating of “Moderate Buy” from the fifteen research firms that are currently covering the stock, Marketbeat.com reports. Five equities research analysts have rated the stock with a hold recommendation and ten have issued a buy recommendation on the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $52.67.

A number of analysts have issued reports on AZEK shares. Truist Financial raised their price target on AZEK from $52.00 to $57.00 and gave the stock a “buy” rating in a research note on Wednesday, November 20th. BMO Capital Markets boosted their price target on AZEK from $49.00 to $51.00 and gave the company a “market perform” rating in a research report on Wednesday, November 20th. The Goldman Sachs Group lifted their price target on shares of AZEK from $52.00 to $59.00 and gave the company a “buy” rating in a research report on Thursday, December 12th. Robert W. Baird increased their price objective on shares of AZEK from $52.00 to $54.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 20th. Finally, JPMorgan Chase & Co. raised their price objective on AZEK from $48.00 to $58.00 and gave the company an “overweight” rating in a research report on Monday, November 25th.

Insider Transactions at AZEK

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

Institutional Investors Weigh In On AZEK

Several institutional investors have recently bought and sold shares of the stock. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of AZEK by 14.3% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 10,436 shares of the company’s stock valued at $440,000 after buying an additional 1,308 shares during the period. Raymond James & Associates grew its holdings in shares of AZEK by 290.8% in the 2nd quarter. Raymond James & Associates now owns 121,623 shares of the company’s stock worth $5,124,000 after acquiring an additional 90,499 shares during the last quarter. Summit Global Investments acquired a new stake in shares of AZEK during the second quarter worth $744,000. 1620 Investment Advisors Inc. purchased a new stake in shares of AZEK during the second quarter valued at $90,000. Finally, Bank of New York Mellon Corp boosted its position in shares of AZEK by 5.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 481,587 shares of the company’s stock valued at $20,289,000 after purchasing an additional 24,542 shares during the period. Institutional investors and hedge funds own 97.44% of the company’s stock.

AZEK Stock Down 0.8 %

Shares of NYSE AZEK opened at $52.74 on Wednesday. The firm’s 50 day moving average price is $48.03 and its 200 day moving average price is $45.07. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.14 and a current ratio of 2.17. The firm has a market cap of $7.54 billion, a P/E ratio of 50.71, a price-to-earnings-growth ratio of 2.40 and a beta of 1.92. AZEK has a 1 year low of $35.38 and a 1 year high of $54.91.

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.