AZEK (NYSE:AZEK) Earns Neutral Rating from Citigroup

AZEK (NYSE:AZEK)‘s stock had its “neutral” rating reaffirmed by stock analysts at Citigroup in a research note issued to investors on Tuesday,Benzinga reports. They currently have a $51.50 price target on the stock, down from their prior price target of $61.00. Citigroup’s target price indicates a potential upside of 5.83% from the stock’s previous close.

Other analysts also recently issued reports about the stock. The Goldman Sachs Group boosted their target price on shares of AZEK from $52.00 to $59.00 and gave the stock a “buy” rating in a report on Thursday, December 12th. Barclays boosted their price objective on AZEK from $58.00 to $64.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 11th. Robert W. Baird reiterated a “neutral” rating and issued a $53.00 target price (down previously from $58.00) on shares of AZEK in a report on Monday. Stephens restated an “equal weight” rating and set a $58.00 price target on shares of AZEK in a report on Monday. Finally, William Blair reaffirmed a “market perform” rating on shares of AZEK in a research note on Monday. Nine investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $54.32.

AZEK Price Performance

Shares of AZEK stock opened at $48.67 on Tuesday. The firm has a market cap of $6.99 billion, a PE ratio of 49.16, a PEG ratio of 1.91 and a beta of 1.95. The stock has a 50 day moving average of $47.39 and a 200 day moving average of $47.23. The company has a current ratio of 2.56, a quick ratio of 1.19 and a debt-to-equity ratio of 0.31. AZEK has a 12 month low of $35.48 and a 12 month high of $54.91.

AZEK (NYSE:AZEK) last posted its 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 net margin of 9.85% and a return on equity of 13.47%. On average, research analysts expect that AZEK will post 1.34 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Jesse G. Singh sold 20,387 shares of the firm’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $50.08, for a total transaction of $1,020,980.96. Following the transaction, the chief executive officer now owns 883,765 shares in the company, valued at approximately $44,258,951.20. This trade represents a 2.25 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders have sold a total of 55,000 shares of company stock valued at $2,518,624 over the last quarter. 3.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Public Employees Retirement System of Ohio raised its holdings in shares of AZEK by 7.9% in the 4th 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 in the last quarter. Vident Advisory LLC bought a new position in AZEK in the fourth quarter worth approximately $217,000. Squarepoint Ops LLC purchased a new stake in AZEK during the fourth quarter worth $1,397,000. Tabor Asset Management LP purchased a new stake in AZEK during the fourth quarter worth $2,289,000. Finally, Tidal Investments LLC boosted its position in AZEK by 4,255.1% during the 4th quarter. Tidal Investments LLC now owns 461,076 shares of the company’s stock valued at $21,887,000 after acquiring an additional 450,489 shares in the last quarter. 97.44% of the stock is currently owned by institutional investors.

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.