AZEK (NYSE:AZEK) Upgraded at Citigroup

AZEK (NYSE:AZEK - Get Free Report) was upgraded by research analysts at Citigroup from a "neutral" rating to a "buy" rating in a research report issued on Monday, Marketbeat.com reports. The brokerage presently has a $60.00 price objective on the stock, up from their previous price objective of $51.00. Citigroup's price objective points to a potential upside of 23.53% from the stock's current price.

A number of other equities research analysts have also weighed in on the company. The Goldman Sachs Group lifted their target price on AZEK from $52.00 to $59.00 and gave the company a "buy" rating in a research report on Thursday, December 12th. Royal Bank of Canada upped their price objective on shares of AZEK from $50.00 to $58.00 and gave the stock an "outperform" rating in a research note on Friday, December 13th. Loop Capital cut shares of AZEK from a "buy" rating to a "hold" rating and set a $47.00 target price on the stock. in a report on Friday, October 4th. JPMorgan Chase & Co. upped their price target on shares of AZEK from $48.00 to $58.00 and gave the stock an "overweight" rating in a research report on Monday, November 25th. Finally, BMO Capital Markets increased their price objective on shares of AZEK from $49.00 to $51.00 and gave the company a "market perform" rating in a research note on Wednesday, November 20th. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. Based on data from MarketBeat, AZEK presently has an average rating of "Moderate Buy" and an average target price of $53.73.

AZEK Trading Up 1.5 %

Shares of NYSE:AZEK traded up $0.74 during trading on Monday, reaching $48.57. 1,117,731 shares of the company were exchanged, compared to its average volume of 1,042,810. The business's fifty day simple moving average is $49.36 and its 200-day simple moving average is $45.30. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.17 and a quick ratio of 1.14. AZEK has a 12-month low of $35.48 and a 12-month high of $54.91. The firm has a market capitalization of $6.95 billion, a PE ratio of 46.70, a P/E/G ratio of 2.40 and a beta of 1.94.

Insider Activity

In related news, CMO Samara Toole sold 1,709 shares of the company's stock in a transaction that occurred 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 sale, the chief marketing officer now owns 16,632 shares in the company, valued at $881,496. This represents a 9.32 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jesse G. Singh sold 20,000 shares of the stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $53.32, for a total transaction of $1,066,400.00. Following the completion of the transaction, the chief executive officer now owns 923,765 shares in the company, valued at approximately $49,255,149.80. This trade represents a 2.12 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 3.10% of the company's stock.

Institutional Investors Weigh In On AZEK

Several hedge funds have recently added to or reduced their stakes in AZEK. GAMMA Investing LLC boosted its stake in shares of AZEK by 39.1% in 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 last quarter. JPMorgan Chase & Co. boosted its position in AZEK by 4.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,999,232 shares of the company's stock worth $93,564,000 after purchasing an additional 90,206 shares in the last quarter. Tidal Investments LLC boosted its position in AZEK by 69.8% in the 3rd quarter. Tidal Investments LLC now owns 10,587 shares of the company's stock worth $495,000 after purchasing an additional 4,352 shares in the last quarter. Sanctuary Advisors LLC lifted its stake in shares of AZEK by 97.8% in the 3rd quarter. Sanctuary Advisors LLC now owns 11,229 shares of the company's stock valued at $572,000 after purchasing an additional 5,553 shares during the period. Finally, Teachers Retirement System of The State of Kentucky boosted its holdings in AZEK by 11.2% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 57,701 shares of the company's stock worth $2,700,000 after buying an additional 5,815 shares in the last quarter. 97.44% of the stock is owned by hedge funds and other institutional investors.

AZEK Company Profile

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.