AZEK (NYSE:AZEK) Sees Unusually-High Trading Volume - Still a Buy?

The AZEK Company Inc. (NYSE:AZEK - Get Free Report) shares saw an uptick in trading volume on Wednesday . 2,297,732 shares traded hands during mid-day trading, an increase of 17% from the previous session's volume of 1,964,289 shares.The stock last traded at $48.69 and had previously closed at $48.45.

Wall Street Analysts Forecast Growth

AZEK has been the subject of a number of recent research reports. Citigroup reaffirmed a "neutral" rating and issued a $51.50 target price (down previously from $61.00) on shares of AZEK in a report on Tuesday, March 25th. Wolfe Research reiterated a "peer perform" rating on shares of AZEK in a report on Wednesday, March 26th. William Blair reissued a "market perform" rating on shares of AZEK in a report on Monday, March 24th. Robert W. Baird reaffirmed a "neutral" rating and set a $53.00 price target (down previously from $58.00) on shares of AZEK in a research note on Monday, March 24th. Finally, Baird R W lowered AZEK from a "strong-buy" rating to a "hold" rating in a research report on Monday, March 24th. Nine analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $54.13.

AZEK Stock Down 3.3 %

The company has a market cap of $6.43 billion, a price-to-earnings ratio of 45.18, a P/E/G ratio of 1.91 and a beta of 1.86. The stock's 50-day moving average is $47.18 and its 200-day moving average is $47.59. The company has a current ratio of 2.56, a quick ratio of 1.19 and a debt-to-equity ratio of 0.31.

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AZEK (NYSE:AZEK - Get Free Report) last released its quarterly earnings data on Tuesday, February 4th. The company reported $0.17 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.14 by $0.03. AZEK had a net margin of 9.85% and a return on equity of 13.47%. On average, analysts anticipate that The AZEK Company Inc. will post 1.34 earnings per share for the current fiscal year.

Insider Buying and Selling at AZEK

In other AZEK news, CEO Jesse G. Singh sold 15,000 shares of the firm's stock in a transaction on Monday, March 10th. The shares were sold at an average price of $41.03, for a total value of $615,450.00. Following the transaction, the chief executive officer now directly owns 868,765 shares of the company's stock, valued at approximately $35,645,427.95. This trade represents a 1.70 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last quarter, insiders sold 55,000 shares of company stock valued at $2,518,624. Company insiders own 3.20% of the company's stock.

Hedge Funds Weigh In On AZEK

Several large investors have recently added to or reduced their stakes in the business. FMR LLC raised its position in AZEK by 80.7% in the 4th quarter. FMR LLC now owns 12,311,577 shares of the company's stock valued at $584,431,000 after buying an additional 5,499,986 shares during the last quarter. Norges Bank bought a new stake in AZEK in the 4th quarter worth about $94,987,000. Balyasny Asset Management L.P. lifted its position in shares of 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 buying an additional 1,398,340 shares in the last quarter. Arrowstreet Capital Limited Partnership grew 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 acquiring an additional 823,588 shares in the last quarter. Finally, Tidal Investments LLC increased its position in shares of AZEK by 4,255.1% during the fourth quarter. Tidal Investments LLC now owns 461,076 shares of the company's stock valued at $21,887,000 after acquiring an additional 450,489 shares during the last quarter. 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.