AZEK (NYSE:AZEK) Sees Strong Trading Volume After Analyst Upgrade

The AZEK Company Inc. (NYSE:AZEK) saw unusually-high trading volume on Tuesday after BMO Capital Markets raised their price target on the stock from $54.00 to $57.00. BMO Capital Markets currently has a market perform rating on the stock. Approximately 2,365,247 shares traded hands during trading, an increase of 35% from the previous session’s volume of 1,751,385 shares.The stock last traded at $48.89 and had previously closed at $48.56.

Other equities research analysts also recently issued reports about 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. Robert W. Baird reissued a “neutral” rating and issued a $53.00 target price (down previously from $58.00) on shares of AZEK in a report on Monday. JPMorgan Chase & Co. lifted their price target on AZEK from $48.00 to $58.00 and gave the stock an “overweight” rating in a report on Monday, November 25th. Citigroup upgraded AZEK from a “neutral” rating to a “buy” rating and increased their price objective for the company from $51.00 to $60.00 in a report on Monday, January 6th. Finally, Barclays boosted their target price on AZEK from $58.00 to $64.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 11th. Nine equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $54.32.

Insider Activity

In other news, CEO Jesse G. Singh sold 20,387 shares of the company’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $50.08, for a total value of $1,020,980.96. Following the completion of the sale, the chief executive officer now directly owns 883,765 shares of the company’s stock, valued at approximately $44,258,951.20. This represents a 2.25 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last ninety days, insiders sold 55,000 shares of company stock valued at $2,518,624. 3.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On AZEK

Institutional investors have recently added to or reduced their stakes in the stock. Empowered Funds LLC acquired a new stake in AZEK during the 4th quarter worth approximately $27,000. FIL Ltd acquired a new stake in shares of AZEK during the fourth quarter worth $28,000. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in AZEK by 623.2% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 687 shares of the company’s stock valued at $33,000 after buying an additional 592 shares during the last quarter. Avalon Trust Co acquired a new position in AZEK in the 4th quarter valued at $38,000. Finally, GAMMA Investing LLC raised its position in AZEK by 39.1% during the 4th quarter. GAMMA Investing LLC now owns 851 shares of the company’s stock worth $40,000 after buying an additional 239 shares during the last quarter. Institutional investors and hedge funds own 97.44% of the company’s stock.

AZEK Trading Up 0.7 %

The company has a debt-to-equity ratio of 0.31, a current ratio of 2.56 and a quick ratio of 1.19. The firm has a market capitalization of $7.02 billion, a price-to-earnings ratio of 49.38, a price-to-earnings-growth ratio of 1.91 and a beta of 1.95. The business’s 50 day moving average price is $47.39 and its 200-day moving average price is $47.23.

AZEK (NYSE:AZEK) last posted its quarterly earnings results on Tuesday, February 4th. The company reported $0.17 earnings per share for the quarter, beating analysts’ consensus estimates of $0.14 by $0.03. AZEK had a return on equity of 13.47% and a net margin of 9.85%. Equities analysts forecast that The AZEK Company Inc. will post 1.34 EPS for the current fiscal year.

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.