AZEK (NYSE:AZEK) Stock Rating Upgraded by Citigroup

AZEK (NYSE:AZEK) was upgraded by equities researchers at Citigroup from a “neutral” rating to a “buy” rating in a research report issued to clients and investors on Monday,Briefing.com Automated Import reports. The firm presently has a $60.00 price target on the stock, up from their previous price target of $51.00. Citigroup’s price objective would suggest a potential upside of 23.05% from the stock’s current price.

Other research analysts have also issued reports about the company. Benchmark reissued a “buy” rating and issued a $55.00 price target on shares of AZEK in a research report on Thursday, November 21st. DA Davidson boosted their target price on shares of AZEK from $44.00 to $50.00 and gave the stock a “neutral” rating in a report on Wednesday, November 20th. BMO Capital Markets raised their price target on shares of AZEK from $49.00 to $51.00 and gave the company a “market perform” rating in a report on Wednesday, November 20th. Royal Bank of Canada boosted 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. Finally, Robert W. Baird increased their target price on shares of AZEK from $52.00 to $54.00 and gave the company an “outperform” rating in a research 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 company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $53.73.

AZEK Price Performance

NYSE AZEK opened at $48.76 on Monday. The company has a market cap of $6.97 billion, a PE ratio of 46.89, a P/E/G ratio of 2.40 and a beta of 1.94. AZEK has a 52-week low of $35.48 and a 52-week high of $54.91. 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 firm’s 50 day moving average price is $49.26 and its 200-day moving average price is $45.29.

Insiders Place Their Bets

In other AZEK news, CEO Jesse G. Singh sold 20,000 shares of the business’s stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 923,765 shares of the company’s stock, valued at approximately $49,255,149.80. The trade was a 2.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CMO Samara Toole sold 1,709 shares of the firm’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 transaction of $90,577.00. Following the sale, the chief marketing officer now directly owns 16,632 shares in the company, valued at $881,496. The trade was a 9.32 % decrease in their position. The disclosure for this sale can be found here. 3.10% of the stock is currently owned by insiders.

Institutional Trading of AZEK

Hedge funds have recently added to or reduced their stakes in the company. ORG Wealth Partners LLC acquired a new stake in shares of AZEK during the 3rd quarter valued at about $31,000. Farther Finance Advisors LLC grew its holdings in AZEK by 183.1% in the third quarter. Farther Finance Advisors LLC now owns 753 shares of the company’s stock valued at $35,000 after purchasing an additional 487 shares during the period. Paladin Wealth LLC purchased a new stake in shares of AZEK in the third quarter valued at approximately $39,000. GAMMA Investing LLC raised its stake in shares of AZEK by 39.1% during the 4th 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. Finally, Blue Trust Inc. lifted its position in shares of AZEK by 106.4% during the 3rd quarter. Blue Trust Inc. now owns 931 shares of the company’s stock valued at $44,000 after buying an additional 480 shares in the last quarter. 97.44% of the stock is owned by hedge funds and other 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.