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

Shares of The AZEK Company Inc. (NYSE:AZEK) gapped up before the market opened 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.

AZEK has been the subject of several other research reports. Citigroup raised AZEK from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $51.00 to $60.00 in a research note on Monday, January 6th. JPMorgan Chase & Co. boosted their target price on AZEK from $48.00 to $58.00 and gave the company an “overweight” rating in a research note on Monday, November 25th. Barclays boosted their target price on AZEK from $58.00 to $64.00 and gave the company an “overweight” rating in a research note on Wednesday, December 11th. The Goldman Sachs Group boosted their target price on AZEK from $52.00 to $59.00 and gave the company a “buy” rating in a research note on Thursday, December 12th. Finally, 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 research note on Monday. Six research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $54.93.

Insider Activity

In other AZEK news, CEO Jesse G. Singh sold 15,000 shares of the 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 completion of the sale, the chief executive officer now owns 868,765 shares in the company, valued at approximately $35,645,427.95. This represents a 1.70 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders have sold 55,000 shares of company stock valued at $2,518,624 in the last ninety days. 3.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. GAMMA Investing LLC grew its position in shares of AZEK by 39.1% during the fourth quarter. GAMMA Investing LLC now owns 851 shares of the company’s stock valued at $40,000 after purchasing an additional 239 shares in the last quarter. Truist Financial Corp grew its position in shares of AZEK by 1.6% during the fourth quarter. Truist Financial Corp now owns 16,706 shares of the company’s stock valued at $793,000 after purchasing an additional 255 shares in the last quarter. Investment House LLC grew its position in shares of AZEK by 0.7% during the fourth quarter. Investment House LLC now owns 39,255 shares of the company’s stock valued at $1,863,000 after purchasing an additional 290 shares in the last quarter. Federated Hermes Inc. grew its position in shares of AZEK by 4.8% during the fourth quarter. Federated Hermes Inc. now owns 6,984 shares of the company’s stock valued at $332,000 after purchasing an additional 318 shares in the last quarter. Finally, Smartleaf Asset Management LLC grew its position in shares of AZEK by 13.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 3,040 shares of the company’s stock valued at $146,000 after purchasing an additional 352 shares in the last quarter. Hedge funds and other institutional investors own 97.44% of the company’s stock.

AZEK Trading Up 14.1 %

The stock has a market cap of $6.79 billion, a PE ratio of 48.37, a price-to-earnings-growth ratio of 1.91 and a beta of 1.95. The stock has a 50-day moving average price of $47.32 and a two-hundred day moving average price of $47.18. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.56 and a quick ratio of 1.19.

AZEK (NYSE:AZEK) last issued its quarterly earnings data 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%. Sell-side analysts forecast that The AZEK Company Inc. will post 1.34 earnings per share 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.