The AZEK Company Inc. (NYSE:AZEK) Receives Consensus Rating of “Moderate Buy” from Analysts

The AZEK Company Inc. (NYSE:AZEK) has been given a consensus rating of “Moderate Buy” by the thirteen ratings firms that are currently covering the firm, Marketbeat reports. Four analysts have rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $54.85.

Several equities research analysts recently issued reports on AZEK shares. Royal Bank of Canada raised their price objective on shares of AZEK from $50.00 to $58.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. Barclays boosted their price target 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. DA Davidson increased their price objective on AZEK from $44.00 to $50.00 and gave the company a “neutral” rating in a research note on Wednesday, November 20th. Robert W. Baird raised their target price on shares of AZEK from $54.00 to $58.00 and gave the company an “outperform” rating in a report on Wednesday, February 5th. Finally, Citigroup raised AZEK from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $51.00 to $60.00 in a research report on Monday, January 6th.

AZEK Stock Down 3.4 %

AZEK stock opened at $43.25 on Monday. The firm’s fifty day simple moving average is $48.54 and its 200-day simple moving average is $47.28. The company has a market capitalization of $6.21 billion, a P/E ratio of 43.69, a price-to-earnings-growth ratio of 1.91 and a beta of 1.95. 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 has a 12 month low of $35.48 and a 12 month high of $54.91.

AZEK (NYSE:AZEK) last released its quarterly earnings results on Tuesday, February 4th. The company reported $0.17 earnings per share for the quarter, topping 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%. As a group, equities research analysts forecast that AZEK will post 1.34 earnings per share for the current year.

Insider Buying and Selling at AZEK

In other news, CMO Samara Toole sold 1,709 shares of AZEK stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $53.00, for a total transaction of $90,577.00. Following the transaction, the chief marketing officer now owns 16,632 shares in the company, valued at approximately $881,496. The trade was a 9.32 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Jesse G. Singh sold 20,387 shares of the company’s stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $50.08, for a total transaction 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 position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 61,709 shares of company stock worth $3,060,151. 3.20% of the stock is owned by insiders.

Hedge Funds Weigh In On AZEK

Institutional investors have recently bought and sold shares of the stock. FMR LLC grew its position in AZEK by 80.7% in the 4th quarter. FMR LLC now owns 12,311,577 shares of the company’s stock worth $584,431,000 after purchasing an additional 5,499,986 shares during the last quarter. Wellington Management Group LLP increased its holdings in shares of AZEK by 33.8% during the third quarter. Wellington Management Group LLP now owns 14,224,410 shares of the company’s stock worth $665,702,000 after buying an additional 3,595,863 shares in the last quarter. Norges Bank bought a new position in AZEK in the 4th quarter valued at $94,987,000. Balyasny Asset Management L.P. grew its holdings in AZEK by 493.6% during the 4th quarter. Balyasny Asset Management L.P. now owns 1,681,629 shares of the company’s stock worth $79,827,000 after acquiring an additional 1,398,340 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its holdings in shares of AZEK by 72.7% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,957,094 shares of the company’s stock valued at $92,903,000 after purchasing an additional 823,588 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.