AZEK (NYSE:AZEK) Shares Gap Up After Analyst Upgrade

The AZEK Company Inc. (NYSE:AZEK)’s stock price gapped up prior to trading on Monday after BMO Capital Markets raised their price target on the stock from $54.00 to $57.00. The stock had previously closed at $41.39, but opened at $49.80. BMO Capital Markets currently has a market perform rating on the stock. AZEK shares last traded at $48.11, with a volume of 3,461,425 shares changing hands.

A number of other research analysts also recently commented on the stock. Royal Bank of Canada increased their price target on shares of AZEK from $50.00 to $58.00 and gave the company an “outperform” rating in a report on Friday, December 13th. Citigroup raised shares of AZEK from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $51.00 to $60.00 in a research note on Monday, January 6th. The Goldman Sachs Group raised their price objective on shares of AZEK from $52.00 to $59.00 and gave the stock a “buy” rating in a research note on Thursday, December 12th. Barclays raised their price objective on shares of AZEK from $58.00 to $64.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 11th. Finally, 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 research note on Monday, November 25th. Six equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $54.93.

Insider Transactions at AZEK

In other AZEK 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 transaction, the chief executive officer now owns 883,765 shares in the company, 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 legal filing with the SEC, which is accessible through this link. Over the last ninety days, insiders sold 55,000 shares of company stock worth $2,518,624. Company insiders own 3.20% of the company’s stock.

Institutional Trading of AZEK

A number of institutional investors and hedge funds have recently modified their holdings of AZEK. Swiss National Bank increased its stake in shares of AZEK by 10.0% during the third quarter. Swiss National Bank now owns 284,050 shares of the company’s stock worth $13,294,000 after purchasing an additional 25,900 shares in the last quarter. Landscape Capital Management L.L.C. purchased a new stake in shares of AZEK during the third quarter worth about $256,000. Charles Schwab Investment Management Inc. increased its stake in shares of AZEK by 2.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,145,302 shares of the company’s stock worth $53,600,000 after purchasing an additional 28,080 shares in the last quarter. Eagle Asset Management Inc. grew its stake in AZEK by 24.5% during the 3rd quarter. Eagle Asset Management Inc. now owns 259,762 shares of the company’s stock valued at $12,219,000 after acquiring an additional 51,177 shares in the last quarter. Finally, Algert Global LLC grew its stake in AZEK by 18.5% during the 3rd quarter. Algert Global LLC now owns 119,453 shares of the company’s stock valued at $5,590,000 after acquiring an additional 18,690 shares in the last quarter. Hedge funds and other institutional investors own 97.44% of the company’s stock.

AZEK Stock Performance

The company has a market cap of $6.79 billion, a PE ratio of 48.37, a PEG ratio of 1.91 and a beta of 1.95. 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 firm’s 50 day moving average is $47.32 and its 200-day moving average is $47.18.

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

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.