AZEK’s (AZEK) Neutral Rating Reiterated at Citigroup

Citigroup reaffirmed their neutral rating on shares of AZEK (NYSE:AZEK) in a research note issued to investors on Tuesday morning, MarketBeat reports. Citigroup currently has a $51.50 price target on the stock, down from their prior price target of $61.00.

A number of other equities research analysts have also commented on the stock. JPMorgan Chase & Co. raised their price objective on shares of AZEK from $48.00 to $58.00 and gave the stock an “overweight” rating in a report on Monday, November 25th. William Blair reissued a “market perform” rating on shares of AZEK 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 lifted their target price on AZEK from $50.00 to $58.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. Finally, Barclays upped their price target on AZEK from $58.00 to $64.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 11th. Nine investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $54.32.

AZEK Price Performance

AZEK opened at $49.77 on Tuesday. The stock has a market cap of $7.15 billion, a P/E ratio of 50.27, a P/E/G ratio of 1.91 and a beta of 1.95. AZEK has a 12 month low of $35.48 and a 12 month high of $54.91. 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 has a fifty day simple moving average of $47.41 and a 200 day simple moving average of $47.31.

AZEK (NYSE:AZEK) last announced its quarterly 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, research analysts expect that AZEK will post 1.34 EPS for the current year.

Insider Activity

In other news, CEO Jesse G. Singh sold 20,387 shares of the firm’s stock in a transaction that occurred on Monday, February 10th. The stock was 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 $44,258,951.20. This trade represents a 2.25 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders sold a total of 55,000 shares of company stock valued at $2,518,624 in the last quarter. Company insiders own 3.20% of the company’s stock.

Institutional Investors Weigh In On AZEK

A number of large investors have recently added to or reduced their stakes in AZEK. Public Employees Retirement System of Ohio raised 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 purchasing an additional 12,087 shares during the period. Vident Advisory LLC acquired a new position in AZEK in the 4th quarter valued at about $217,000. Squarepoint Ops LLC bought a new position in AZEK in the 4th quarter valued at about $1,397,000. Tabor Asset Management LP acquired a new stake in AZEK during the fourth quarter worth approximately $2,289,000. Finally, Tidal Investments LLC boosted its holdings in shares of AZEK by 4,255.1% during the fourth quarter. Tidal Investments LLC now owns 461,076 shares of the company’s stock worth $21,887,000 after acquiring an additional 450,489 shares during the period. 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.