AZEK (NYSE:AZEK) Price Target Cut to $44.00

AZEK (NYSE:AZEK) had its target price decreased by Citigroup from $50.00 to $44.00 in a research note issued to investors on Thursday morning, Benzinga reports. Citigroup currently has a neutral rating on the stock.

Several other research firms also recently commented on AZEK. Benchmark started coverage on AZEK in a research report on Friday, April 19th. They set a buy rating and a $55.00 target price for the company. Loop Capital lowered their target price on AZEK from $58.00 to $52.00 and set a buy rating for the company in a research note on Thursday. The Goldman Sachs Group lowered their target price on AZEK from $56.00 to $50.00 and set a buy rating for the company in a research note on Wednesday. Robert W. Baird lowered their target price on AZEK from $60.00 to $58.00 and set an outperform rating for the company in a research note on Thursday, May 9th. Finally, DA Davidson cut AZEK from a buy rating to a neutral rating and lowered their target price for the company from $57.00 to $44.00 in a research note on Wednesday, July 3rd. Five analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average price target of $46.50.

AZEK Stock Performance

AZEK opened at $43.66 on Thursday. The stock’s 50 day moving average price is $45.03 and its two-hundred day moving average price is $44.55. The company has a quick ratio of 2.21, a current ratio of 3.40 and a debt-to-equity ratio of 0.42. AZEK has a 12-month low of $25.03 and a 12-month high of $50.78. The firm has a market capitalization of $6.35 billion, a P/E ratio of 42.80, a price-to-earnings-growth ratio of 1.36 and a beta of 1.88.

AZEK (NYSE:AZEK) last announced its quarterly earnings data on Friday, June 14th. The company reported $0.39 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.03. The company had revenue of $418.41 million during the quarter, compared to the consensus estimate of $416.79 million. AZEK had a return on equity of 12.02% and a net margin of 10.66%. On average, equities analysts forecast that AZEK will post 1.06 earnings per share for the current year.

Insider Buying and Selling at AZEK

In other AZEK news, insider Jonathan Skelly sold 12,000 shares of the business’s stock in a transaction dated Tuesday, June 18th. The stock was sold at an average price of $46.72, for a total value of $560,640.00. Following the completion of the transaction, the insider now directly owns 190,134 shares of the company’s stock, valued at $8,883,060.48. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, CEO Jesse G. Singh sold 13,000 shares of the business’s stock in a transaction dated Wednesday, July 10th. The stock was sold at an average price of $41.75, for a total value of $542,750.00. Following the sale, the chief executive officer now directly owns 1,024,444 shares in the company, valued at $42,770,537. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Jonathan Skelly sold 12,000 shares of the business’s stock in a transaction dated Tuesday, June 18th. The shares were sold at an average price of $46.72, for a total value of $560,640.00. Following the completion of the sale, the insider now owns 190,134 shares in the company, valued at $8,883,060.48. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 38,000 shares of company stock valued at $1,701,000. Company insiders own 3.10% of the company’s stock.

Institutional Trading of AZEK

Institutional investors and hedge funds have recently bought and sold shares of the stock. Venturi Wealth Management LLC raised its holdings in AZEK by 58.9% during the first quarter. Venturi Wealth Management LLC now owns 707 shares of the company’s stock worth $36,000 after acquiring an additional 262 shares in the last quarter. ORG Partners LLC bought a new stake in AZEK in the first quarter valued at approximately $35,000. Quadrant Capital Group LLC raised its stake in AZEK by 45.9% in the fourth quarter. Quadrant Capital Group LLC now owns 728 shares of the company’s stock valued at $28,000 after buying an additional 229 shares during the period. Whittier Trust Co. bought a new stake in AZEK in the first quarter valued at approximately $37,000. Finally, Principal Securities Inc. bought a new stake in AZEK in the fourth quarter valued at approximately $44,000. 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.