AZEK (NYSE:AZEK) Upgraded at Citigroup

Citigroup upgraded shares of AZEK (NYSE:AZEK) from a neutral rating to a buy rating in a report issued on Monday morning, Marketbeat Ratings reports. The firm currently has $60.00 target price on the stock, up from their prior target price of $51.00.

AZEK has been the topic of several other reports. Royal Bank of Canada increased their price target on AZEK from $50.00 to $58.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. Robert W. Baird increased their price target on AZEK from $52.00 to $54.00 and gave the stock an “outperform” rating in a report on Wednesday, November 20th. BMO Capital Markets raised their price objective on AZEK from $49.00 to $51.00 and gave the stock a “market perform” rating in a report on Wednesday, November 20th. The Goldman Sachs Group raised their price objective on AZEK from $52.00 to $59.00 and gave the stock a “buy” rating in a report on Thursday, December 12th. Finally, Truist Financial raised their price objective on AZEK from $52.00 to $57.00 and gave the stock a “buy” rating in a report on Wednesday, November 20th. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $53.73.

AZEK Trading Down 0.7 %

Shares of NYSE AZEK opened at $46.23 on Monday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.14 and a current ratio of 2.17. The business’s 50 day moving average price is $49.43 and its 200-day moving average price is $45.32. AZEK has a fifty-two week low of $35.48 and a fifty-two week high of $54.91. The company has a market cap of $6.61 billion, a price-to-earnings ratio of 44.45, a PEG ratio of 2.40 and a beta of 1.94.

Insider Buying and Selling at AZEK

In other news, CEO Jesse G. Singh sold 20,000 shares of the firm’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $53.32, for a total value of $1,066,400.00. Following the completion of the sale, the chief executive officer now owns 923,765 shares of the company’s stock, valued at $49,255,149.80. This trade represents a 2.12 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CMO Samara Toole sold 1,709 shares of the firm’s stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $53.00, for a total value of $90,577.00. Following the completion of the sale, the chief marketing officer now directly owns 16,632 shares of the company’s stock, valued at $881,496. The trade was a 9.32 % decrease in their position. The disclosure for this sale can be found here. Insiders own 3.10% of the company’s stock.

Institutional Trading of AZEK

A number of institutional investors have recently made changes to their positions in AZEK. Wellington Management Group LLP boosted its position in shares of AZEK by 33.8% in the 3rd quarter. Wellington Management Group LLP now owns 14,224,410 shares of the company’s stock worth $665,702,000 after purchasing an additional 3,595,863 shares in the last quarter. FMR LLC lifted its position in AZEK by 57.9% during the 3rd quarter. FMR LLC now owns 6,811,591 shares of the company’s stock worth $318,782,000 after acquiring an additional 2,497,074 shares during the period. Mercer Global Advisors Inc. ADV acquired a new stake in AZEK during the 2nd quarter worth about $86,719,000. Interval Partners LP lifted its position in AZEK by 162.4% during the 2nd quarter. Interval Partners LP now owns 742,749 shares of the company’s stock worth $31,292,000 after acquiring an additional 459,664 shares during the period. Finally, Jacobs Levy Equity Management Inc. lifted its position in AZEK by 73.3% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,006,253 shares of the company’s stock worth $47,093,000 after acquiring an additional 425,609 shares during the period. Institutional investors and hedge funds own 97.44% of the company’s stock.

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.