AZEK (NYSE:AZEK) Price Target Raised to $57.00

AZEK (NYSE:AZEK - Free Report) had its price objective raised by BMO Capital Markets from $54.00 to $57.00 in a research note published on Monday morning,Benzinga reports. BMO Capital Markets currently has a market perform rating on the stock.

AZEK has been the subject of a number of other research reports. Citigroup upgraded AZEK from a "neutral" rating to a "buy" rating and lifted their target price for the stock from $51.00 to $60.00 in a report on Monday, January 6th. JPMorgan Chase & Co. lifted their price objective on shares of AZEK from $48.00 to $58.00 and gave the stock an "overweight" rating in a research note on Monday, November 25th. Robert W. Baird reiterated a "neutral" rating and set a $53.00 price objective (down previously from $58.00) on shares of AZEK in a research report on Monday. The Goldman Sachs Group raised their target price on shares of AZEK from $52.00 to $59.00 and gave the stock a "buy" rating in a report on Thursday, December 12th. Finally, Royal Bank of Canada upped their price target on shares of AZEK from $50.00 to $58.00 and gave the company an "outperform" rating in a report on Friday, December 13th. Nine investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $54.32.

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AZEK Price Performance

Shares of NYSE:AZEK traded down $0.14 during midday trading on Monday, reaching $49.65. 6,009,594 shares of the company were exchanged, compared to its average volume of 1,920,716. The company has a current ratio of 2.56, a quick ratio of 1.19 and a debt-to-equity ratio of 0.31. The stock has a market cap of $7.13 billion, a PE ratio of 50.15, a price-to-earnings-growth ratio of 1.91 and a beta of 1.95. The business's fifty day moving average is $47.40 and its two-hundred day moving average is $47.37. AZEK has a one year low of $35.48 and a one year high of $54.91.

AZEK (NYSE:AZEK - Get Free Report) last issued its quarterly earnings data on Tuesday, February 4th. The company reported $0.17 earnings per share (EPS) for the quarter, topping the consensus estimate 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, analysts predict that AZEK will post 1.34 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Jesse G. Singh sold 15,000 shares of the company's stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $41.03, for a total transaction of $615,450.00. Following the transaction, the chief executive officer now owns 868,765 shares in the company, valued at $35,645,427.95. This represents a 1.70 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Over the last three months, insiders have sold 55,000 shares of company stock valued at $2,518,624. 3.20% of the stock is currently owned by insiders.

Institutional Trading of AZEK

Several large investors have recently bought and sold shares of the stock. GAMMA Investing LLC lifted its stake in shares of AZEK by 39.1% during the fourth quarter. GAMMA Investing LLC now owns 851 shares of the company's stock worth $40,000 after buying an additional 239 shares during the period. Truist Financial Corp lifted its position in AZEK by 1.6% during the 4th quarter. Truist Financial Corp now owns 16,706 shares of the company's stock worth $793,000 after acquiring an additional 255 shares during the period. Investment House LLC grew its stake in AZEK by 0.7% during the 4th 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 during the last quarter. Federated Hermes Inc. increased its holdings in shares of AZEK by 4.8% in 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 during the period. Finally, Smartleaf Asset Management LLC raised its stake in shares of AZEK by 13.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 3,040 shares of the company's stock worth $146,000 after purchasing an additional 352 shares during the last quarter. Hedge funds and other institutional investors 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.