AZEK (NYSE:AZEK) Price Target Cut to $44.00 by Analysts at Citigroup

AZEK (NYSE:AZEK) had its price target cut by research analysts at Citigroup from $50.00 to $44.00 in a report released on Thursday, Benzinga reports. The firm currently has a “neutral” rating on the stock. Citigroup’s price target points to a potential upside of 1.76% from the company’s previous close.

A number of other brokerages have also recently commented on AZEK. DA Davidson cut shares of AZEK from a “buy” rating to a “neutral” rating and cut their price target for the stock from $57.00 to $44.00 in a research note on Wednesday, July 3rd. Benchmark began coverage on shares of AZEK in a research note on Friday, April 19th. They set a “buy” rating and a $55.00 price target for the company. Loop Capital cut their price target on shares of AZEK from $58.00 to $52.00 and set a “buy” rating for the company in a research note on Thursday. Truist Financial reaffirmed a “buy” rating and set a $57.00 price objective on shares of AZEK in a report on Tuesday, June 18th. Finally, Barclays raised their price objective on shares of AZEK from $50.00 to $58.00 and gave the stock an “overweight” rating in a report on Thursday, April 4th. Five equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $46.32.

AZEK Stock Up 3.0 %

AZEK stock traded up $1.25 during mid-day trading on Thursday, hitting $43.24. 2,772,052 shares of the company’s stock were exchanged, compared to its average volume of 1,651,283. The company has a current ratio of 3.40, a quick ratio of 2.21 and a debt-to-equity ratio of 0.42. The stock has a market cap of $6.29 billion, a P/E ratio of 42.35, a P/E/G ratio of 1.29 and a beta of 1.88. AZEK has a 1-year low of $25.03 and a 1-year high of $50.78. The stock has a 50 day moving average of $45.13 and a two-hundred day moving average of $44.48.

AZEK (NYSE:AZEK) last issued its quarterly earnings results on Friday, June 14th. The company reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.03. The company had revenue of $418.41 million for 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%. As a group, analysts anticipate that AZEK will post 1.06 EPS for the current fiscal year.

Insider Activity at AZEK

In related news, CEO Jesse G. Singh sold 13,000 shares of the firm’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $45.97, for a total value of $597,610.00. Following the completion of the sale, the chief executive officer now owns 1,070,444 shares of the company’s stock, valued at $49,208,310.68. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, insider Jonathan Skelly sold 12,000 shares of the business’s stock in a transaction on Tuesday, June 18th. The shares were sold at an average price of $46.72, for a total value of $560,640.00. Following the sale, the insider now directly owns 190,134 shares of the company’s stock, valued at approximately $8,883,060.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jesse G. Singh sold 13,000 shares of the business’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $45.97, for a total transaction of $597,610.00. Following the completion of the sale, the chief executive officer now directly owns 1,070,444 shares in the company, valued at $49,208,310.68. The disclosure for this sale can be found here. 3.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On AZEK

Several institutional investors have recently added to or reduced their stakes in AZEK. Quadrant Capital Group LLC lifted its position in AZEK by 45.9% in the 4th quarter. Quadrant Capital Group LLC now owns 728 shares of the company’s stock valued at $28,000 after acquiring an additional 229 shares in the last quarter. ORG Partners LLC bought a new stake in AZEK during the 1st quarter worth about $35,000. Venturi Wealth Management LLC lifted its position in AZEK by 58.9% during the 1st quarter. Venturi Wealth Management LLC now owns 707 shares of the company’s stock worth $36,000 after buying an additional 262 shares in the last quarter. Whittier Trust Co. bought a new stake in AZEK during the 1st quarter worth about $37,000. Finally, Principal Securities Inc. bought a new stake in AZEK during the 4th quarter worth about $44,000. 97.44% of the stock is 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.