Citigroup Lowers AZEK (NYSE:AZEK) Price Target to $44.00

AZEK (NYSE:AZEK) had its price objective dropped by equities research analysts at Citigroup from $50.00 to $44.00 in a research note issued to investors on Thursday, Benzinga reports. The firm currently has a “neutral” rating on the stock. Citigroup’s target price indicates a potential upside of 0.78% from the company’s current price.

A number of other research analysts also recently issued reports on the company. Robert W. Baird reduced their price objective on AZEK from $60.00 to $58.00 and set an “outperform” rating for the company in a research note on Thursday, May 9th. Barclays increased their price target on AZEK from $50.00 to $58.00 and gave the stock an “overweight” rating in a research note on Thursday, April 4th. Benchmark started coverage on AZEK in a research note on Friday, April 19th. They set a “buy” rating and a $55.00 price target for the company. Truist Financial restated a “buy” rating and issued a $57.00 target price on shares of AZEK in a research note on Tuesday, June 18th. Finally, The Goldman Sachs Group cut their target price on AZEK from $56.00 to $50.00 and set a “buy” rating for the company in a research note on Wednesday. Five analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $46.00.

AZEK Price Performance

Shares of NYSE:AZEK opened at $43.66 on Thursday. The company has a quick ratio of 2.21, a current ratio of 3.40 and a debt-to-equity ratio of 0.42. AZEK has a twelve month low of $25.03 and a twelve month high of $50.78. The stock’s 50 day moving average is $45.03 and its 200-day moving average is $44.51. The firm has a market capitalization of $6.35 billion, a price-to-earnings ratio of 42.80, a PEG ratio of 1.32 and a beta of 1.88.

AZEK (NYSE:AZEK) last released its quarterly earnings results on Friday, June 14th. The company reported $0.39 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.03. The business had revenue of $418.41 million during the quarter, compared to analyst estimates of $416.79 million. AZEK had a return on equity of 12.02% and a net margin of 10.66%. Sell-side analysts forecast that AZEK will post 1.06 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Jesse G. Singh sold 13,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 10th. The stock was sold at an average price of $41.75, for a total value of $542,750.00. Following the completion of the sale, the chief executive officer now owns 1,024,444 shares in the company, valued at approximately $42,770,537. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Jonathan Skelly sold 12,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 18th. The stock was sold at an average price of $46.72, for a total transaction of $560,640.00. Following the transaction, the insider now directly owns 190,134 shares of the company’s stock, valued at $8,883,060.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Jesse G. Singh sold 13,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 10th. The shares were sold at an average price of $41.75, for a total value of $542,750.00. Following the transaction, the chief executive officer now directly owns 1,024,444 shares in the company, valued at $42,770,537. The disclosure for this sale can be found here. Insiders sold 38,000 shares of company stock worth $1,701,000 in the last quarter. 3.10% of the stock is owned by insiders.

Institutional Investors Weigh In On AZEK

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. CWM LLC grew its stake in AZEK by 24.4% in the second quarter. CWM LLC now owns 5,099 shares of the company’s stock worth $215,000 after purchasing an additional 1,001 shares during the period. Kingswood Wealth Advisors LLC bought a new position in shares of AZEK during the second quarter valued at $523,000. Versant Capital Management Inc lifted its holdings in shares of AZEK by 5,452.2% during the second quarter. Versant Capital Management Inc now owns 1,277 shares of the company’s stock valued at $54,000 after purchasing an additional 1,254 shares in the last quarter. American Trust bought a new position in shares of AZEK during the first quarter valued at $201,000. Finally, Tidal Investments LLC lifted its holdings in AZEK by 3.7% in the first quarter. Tidal Investments LLC now owns 7,060 shares of the company’s stock valued at $355,000 after acquiring an additional 251 shares during the period. 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.