Investors Purchase Large Volume of AZEK Call Options (NYSE:AZEK)

The AZEK Company Inc. (NYSE:AZEK) was the target of unusually large options trading on Tuesday. Stock traders acquired 4,377 call options on the company. This is an increase of 498% compared to the typical daily volume of 732 call options.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on AZEK shares. Truist Financial reaffirmed a “buy” rating and set a $57.00 price objective on shares of AZEK in a report on Tuesday, June 18th. Barclays boosted their price target on AZEK from $50.00 to $58.00 and gave the company an “overweight” rating in a research note on Thursday, April 4th. Benchmark assumed coverage on AZEK in a research note on Friday, April 19th. They set a “buy” rating and a $55.00 price objective for the company. Citigroup boosted their target price on shares of AZEK from $46.00 to $50.00 and gave the company a “neutral” rating in a research note on Friday, April 5th. Finally, Robert W. Baird lowered their target price on shares of AZEK from $60.00 to $58.00 and set an “outperform” rating on the stock in a report on Thursday, May 9th. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $45.33.

AZEK Stock Up 0.6 %

Shares of AZEK opened at $41.78 on Thursday. The firm has a market capitalization of $6.08 billion, a price-to-earnings ratio of 40.96, a PEG ratio of 1.30 and a beta of 1.91. AZEK has a 52 week low of $25.03 and a 52 week high of $50.78. The company has a debt-to-equity ratio of 0.42, a quick ratio of 2.21 and a current ratio of 3.40. The business’s fifty day moving average price is $45.99 and its two-hundred day moving average price is $44.20.

Insider Buying and Selling

In other AZEK news, insider Jonathan Skelly sold 12,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 18th. The stock was sold at an average price of $46.72, for a total value of $560,640.00. Following the completion of the transaction, the insider now owns 190,134 shares of the company’s stock, valued at approximately $8,883,060.48. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, CEO Jesse G. Singh sold 13,000 shares of the firm’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $45.97, for a total transaction of $597,610.00. Following the completion of the transaction, the chief executive officer now directly owns 1,070,444 shares of the company’s stock, valued at approximately $49,208,310.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jonathan Skelly sold 12,000 shares of the company’s stock in a transaction dated Tuesday, June 18th. The shares were sold at an average price of $46.72, for a total transaction of $560,640.00. Following the completion of the sale, the insider now directly owns 190,134 shares in the company, valued at approximately $8,883,060.48. The disclosure for this sale can be found here. Insiders have sold a total of 38,000 shares of company stock valued at $1,786,150 over the last three months. 3.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On AZEK

Several hedge funds have recently added to or reduced their stakes in AZEK. Quadrant Capital Group LLC boosted its stake in shares of AZEK by 45.9% in the 4th quarter. Quadrant Capital Group LLC now owns 728 shares of the company’s stock valued at $28,000 after purchasing an additional 229 shares during the last quarter. ORG Partners LLC bought a new position in AZEK in the first quarter valued at approximately $35,000. Venturi Wealth Management LLC grew its holdings in AZEK by 58.9% during the 1st quarter. Venturi Wealth Management LLC now owns 707 shares of the company’s stock worth $36,000 after acquiring an additional 262 shares during the period. Whittier Trust Co. bought a new stake in shares of AZEK during the 1st quarter valued at $37,000. Finally, Principal Securities Inc. acquired a new position in shares of AZEK in the 4th quarter valued at $44,000. Institutional investors 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.