Citigroup Reaffirms “Neutral” Rating for AZEK (NYSE:AZEK)

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

Several other brokerages also recently weighed in on AZEK. Royal Bank of Canada boosted their price objective on AZEK from $50.00 to $58.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. Stephens reiterated an “equal weight” rating and set a $58.00 price target on shares of AZEK in a report on Monday. BMO Capital Markets increased their price target on shares of AZEK from $54.00 to $57.00 and gave the company a “market perform” rating in a research report on Monday. JPMorgan Chase & Co. boosted their price objective on shares of AZEK from $48.00 to $58.00 and gave the company an “overweight” rating in a research report on Monday, November 25th. Finally, William Blair reiterated a “market perform” rating on shares of AZEK in a report on Monday. Nine investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $54.32.

AZEK Stock Performance

AZEK stock opened at $48.96 on Tuesday. AZEK has a fifty-two week low of $35.48 and a fifty-two week high of $54.91. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.19 and a current ratio of 2.56. The stock has a market cap of $7.03 billion, a P/E ratio of 49.45, a price-to-earnings-growth ratio of 1.91 and a beta of 1.95. The firm’s fifty day moving average price is $47.41 and its 200-day moving average price is $47.30.

AZEK (NYSE:AZEK) last issued its earnings results on Tuesday, February 4th. The company reported $0.17 earnings per share (EPS) for the quarter, topping 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 expect that AZEK will post 1.34 earnings per share for the current fiscal year.

Insider Transactions at AZEK

In related news, CEO Jesse G. Singh sold 15,000 shares of the company’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $41.03, for a total value of $615,450.00. Following the sale, the chief executive officer now directly owns 868,765 shares of the company’s stock, valued at $35,645,427.95. This represents a 1.70 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In the last quarter, insiders sold 55,000 shares of company stock valued at $2,518,624. Corporate insiders own 3.20% of the company’s stock.

Institutional Trading of AZEK

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in AZEK by 105.4% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 60,798 shares of the company’s stock worth $2,845,000 after acquiring an additional 31,193 shares in the last quarter. State Street Corp lifted its holdings in shares of AZEK by 1.9% during the third quarter. State Street Corp now owns 2,451,483 shares of the company’s stock valued at $114,729,000 after purchasing an additional 45,774 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of AZEK by 4.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,999,232 shares of the company’s stock worth $93,564,000 after purchasing an additional 90,206 shares in the last quarter. Advantage Alpha Capital Partners LP purchased a new stake in shares of AZEK in the 3rd quarter worth approximately $3,253,000. Finally, Stifel Financial Corp increased its position in AZEK by 24.7% during the 3rd quarter. Stifel Financial Corp now owns 22,481 shares of the company’s stock valued at $1,052,000 after buying an additional 4,454 shares in the last quarter. 97.44% of the stock is owned by hedge funds and other 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.