AZEK (NYSE:AZEK) Earns Neutral Rating from Citigroup

AZEK (NYSE:AZEK)‘s stock had its “neutral” rating restated by research analysts at Citigroup in a research note issued on Tuesday,Benzinga reports. They presently have a $51.50 target price on the stock, down from their prior target price of $61.00. Citigroup’s target price would suggest a potential upside of 5.19% from the company’s current price.

A number of other research analysts also recently weighed in on the stock. The Goldman Sachs Group increased their price objective 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. BMO Capital Markets raised their price target on AZEK from $54.00 to $57.00 and gave the stock a “market perform” rating in a research note on Monday. Baird R W cut AZEK from a “strong-buy” rating to a “hold” rating in a research report on Monday. Royal Bank of Canada raised their target price on AZEK from $50.00 to $58.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. Finally, Barclays upped their price target on shares of AZEK from $58.00 to $64.00 and gave the company an “overweight” rating in a research report on Wednesday, December 11th. Nine analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $54.32.

AZEK Trading Down 0.1 %

NYSE:AZEK opened at $48.96 on Tuesday. The stock has a market cap of $7.03 billion, a price-to-earnings ratio of 49.45, a PEG ratio of 1.91 and a beta of 1.95. 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’s 50 day moving average price is $47.41 and its 200-day moving average price is $47.30. AZEK has a 52 week low of $35.48 and a 52 week high of $54.91.

AZEK (NYSE:AZEK) last issued its earnings results on Tuesday, February 4th. The company reported $0.17 EPS for the quarter, beating 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%. On average, equities research analysts forecast that AZEK will post 1.34 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Jesse G. Singh sold 15,000 shares of the firm’s 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 sale, the chief executive officer now directly owns 868,765 shares in the company, valued at $35,645,427.95. This trade represents a 1.70 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold a total of 55,000 shares of company stock worth $2,518,624 over the last three months. 3.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On AZEK

Institutional investors have recently bought and sold shares of the business. Public Employees Retirement System of Ohio lifted its position in shares of AZEK by 7.9% in the fourth quarter. Public Employees Retirement System of Ohio now owns 165,436 shares of the company’s stock valued at $7,853,000 after acquiring an additional 12,087 shares in the last quarter. Vident Advisory LLC bought a new stake in AZEK during the 4th quarter valued at approximately $217,000. Squarepoint Ops LLC purchased a new position in AZEK in the 4th quarter worth approximately $1,397,000. Tabor Asset Management LP purchased a new position in AZEK in the 4th quarter worth approximately $2,289,000. Finally, Tidal Investments LLC boosted its stake in AZEK by 4,255.1% in the 4th quarter. Tidal Investments LLC now owns 461,076 shares of the company’s stock worth $21,887,000 after purchasing an additional 450,489 shares during the period. Hedge funds and other institutional investors own 97.44% of the company’s stock.

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.