AZEK (NYSE:AZEK) Sees Large Volume Increase – Time to Buy?

by · The Markets Daily

Shares of The AZEK Company Inc. (NYSE:AZEK – Get Free Report) saw an uptick in trading volume on Wednesday . 2,297,732 shares were traded during 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.

Analyst Ratings Changes

AZEK has been the topic of several analyst reports. Barclays upped their target price on AZEK from $58.00 to $64.00 and gave the company an “overweight” rating in a report on Wednesday, December 11th. William Blair reaffirmed a “market perform” rating on shares of AZEK in a research note on Monday, March 24th. Stephens cut shares of AZEK from an “overweight” rating to a “mixed” rating in a research report on Monday, March 24th. Citigroup restated 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. Finally, Royal Bank of Canada increased their price target on AZEK from $50.00 to $58.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. Nine equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $54.32.

Get Our Latest Analysis on AZEK

AZEK Price Performance

The stock has a market capitalization of $6.93 billion, a P/E ratio of 48.74, a price-to-earnings-growth ratio of 1.91 and a beta of 1.86. The business’s 50 day simple moving average is $47.26 and its two-hundred day simple moving average is $47.54. The company has a quick ratio of 1.19, a current ratio of 2.56 and a debt-to-equity ratio of 0.31.

AZEK (NYSE:AZEK – Get Free Report) last announced its quarterly earnings results on Tuesday, February 4th. The company reported $0.17 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.03. AZEK had a net margin of 9.85% and a return on equity of 13.47%. As a group, sell-side analysts forecast that The AZEK Company Inc. will post 1.34 earnings per share for the current fiscal year.

Insider Activity at AZEK

In other news, CEO Jesse G. Singh sold 15,000 shares of the stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $41.03, for a total value of $615,450.00. Following the completion of the sale, 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders have sold a total of 55,000 shares of company stock valued at $2,518,624 over the last 90 days. Insiders own 3.20% of the company’s stock.

Hedge Funds Weigh In On AZEK

A number of hedge funds and other institutional investors have recently modified their holdings of AZEK. GAMMA Investing LLC boosted its position in AZEK by 39.1% in the fourth quarter. GAMMA Investing LLC now owns 851 shares of the company’s stock worth $40,000 after purchasing an additional 239 shares during the last quarter. Truist Financial Corp boosted its holdings in shares of AZEK by 1.6% in the 4th quarter. Truist Financial Corp now owns 16,706 shares of the company’s stock worth $793,000 after buying an additional 255 shares during the last quarter. Investment House LLC grew its position in AZEK by 0.7% during the fourth quarter. Investment House LLC now owns 39,255 shares of the company’s stock valued at $1,863,000 after buying an additional 290 shares during the period. Federated Hermes Inc. increased its holdings in AZEK by 4.8% during the fourth quarter. Federated Hermes Inc. now owns 6,984 shares of the company’s stock worth $332,000 after buying an additional 318 shares during the last quarter. Finally, Smartleaf Asset Management LLC raised its position in 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 acquiring an additional 352 shares during the period. Hedge funds and other institutional investors own 97.44% of the company’s stock.

AZEK Company Profile

(Get Free Report)

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.

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