AZEK (NYSE:AZEK) Shares Gap Down to $41.63

The AZEK Company Inc. (NYSE:AZEK) gapped down prior to trading on Wednesday . The stock had previously closed at $41.63, but opened at $40.11. AZEK shares last traded at $40.51, with a volume of 346,213 shares.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on AZEK shares. Benchmark started coverage on AZEK in a report on Friday, April 19th. They issued a “buy” rating and a $55.00 price target for the company. DA Davidson cut AZEK from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $57.00 to $44.00 in a report on Wednesday. Barclays upped their price target on AZEK from $50.00 to $58.00 and gave the stock an “overweight” rating in a report on Thursday, April 4th. Citigroup upped their price target on AZEK from $46.00 to $50.00 and gave the stock a “neutral” rating in a report on Friday, April 5th. Finally, Truist Financial reaffirmed a “buy” rating and issued a $57.00 price target on shares of AZEK in a report on Tuesday, June 18th. Five research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $45.26.

AZEK Stock Down 2.3 %

The firm has a market capitalization of $5.92 billion, a PE ratio of 39.86, a price-to-earnings-growth ratio of 1.31 and a beta of 1.88. The company has a quick ratio of 2.21, a current ratio of 3.40 and a debt-to-equity ratio of 0.42. The business has a 50-day moving average price of $45.50 and a 200-day moving average price of $44.35.

Insider Buying and Selling

In related news, CEO Jesse G. Singh sold 13,000 shares of the stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $45.97, for a total value of $597,610.00. Following the completion of the transaction, the chief executive officer now directly owns 1,070,444 shares in the company, valued at $49,208,310.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Jesse G. Singh sold 13,000 shares of the stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $45.97, for a total value of $597,610.00. Following the completion of the transaction, the chief executive officer now directly owns 1,070,444 shares in the company, valued at $49,208,310.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jonathan Skelly sold 12,000 shares of the 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 $8,883,060.48. The disclosure for this sale can be found here. Over the last three months, insiders sold 38,000 shares of company stock worth $1,786,150. Company insiders own 3.10% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in AZEK. Quadrant Capital Group LLC lifted its stake in AZEK by 45.9% during the fourth quarter. Quadrant Capital Group LLC now owns 728 shares of the company’s stock worth $28,000 after purchasing an additional 229 shares in the last quarter. ORG Partners LLC acquired a new stake in shares of AZEK in the first quarter valued at $35,000. Venturi Wealth Management LLC raised its stake in shares of AZEK by 58.9% in the first quarter. Venturi Wealth Management LLC now owns 707 shares of the company’s stock valued at $36,000 after acquiring an additional 262 shares in the last quarter. Whittier Trust Co. acquired a new stake in shares of AZEK in the first quarter valued at $37,000. Finally, Principal Securities Inc. acquired a new stake in shares of AZEK in the fourth quarter valued at $44,000. 97.44% of the stock is currently owned by institutional investors and hedge funds.

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.