AZEK (NYSE:AZEK) Shares Gap Down to $45.65

The AZEK Company Inc. (NYSE:AZEK) shares gapped down prior to trading on Tuesday . The stock had previously closed at $45.65, but opened at $44.25. AZEK shares last traded at $44.34, with a volume of 336,336 shares.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on AZEK. The Goldman Sachs Group cut their target price on AZEK from $56.00 to $50.00 and set a “buy” rating on the stock in a research report on Wednesday, July 10th. Barclays lowered their price target on AZEK from $58.00 to $52.00 and set an “overweight” rating for the company in a report on Friday, July 12th. BMO Capital Markets downgraded AZEK from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $53.00 to $50.00 in a research note on Tuesday. Loop Capital lowered their target price on AZEK from $58.00 to $52.00 and set a “buy” rating for the company in a research note on Thursday, July 11th. Finally, Truist Financial restated a “buy” rating and set a $57.00 target price on shares of AZEK in a research note on Tuesday, June 18th. Six investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $46.72.

AZEK Stock Performance

The company has a debt-to-equity ratio of 0.42, a current ratio of 3.40 and a quick ratio of 2.21. The company has a market cap of $6.14 billion, a P/E ratio of 41.38, a PEG ratio of 1.38 and a beta of 1.88. The stock has a fifty day moving average price of $44.74 and a two-hundred day moving average price of $44.94.

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

Insider Activity at AZEK

In related news, CEO Jesse G. Singh sold 13,000 shares of AZEK stock in a transaction on Friday, May 10th. The shares were sold at an average price of $45.97, for a total value of $597,610.00. Following the completion of the sale, the chief executive officer now owns 1,070,444 shares of the company’s stock, valued at approximately $49,208,310.68. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CEO Jesse G. Singh sold 13,000 shares of AZEK stock in a transaction on Friday, May 10th. The shares were sold at an average price of $45.97, for a total value of $597,610.00. Following the completion of the sale, the chief executive officer now owns 1,070,444 shares of the company’s stock, valued at approximately $49,208,310.68. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Jonathan Skelly sold 12,000 shares of AZEK stock in a transaction on Tuesday, June 18th. The shares were sold at an average price of $46.72, for a total transaction of $560,640.00. Following the completion of the sale, the insider now directly owns 190,134 shares of the company’s stock, valued at approximately $8,883,060.48. The disclosure for this sale can be found here. In the last 90 days, insiders sold 38,000 shares of company stock valued at $1,701,000. Insiders own 3.10% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Quadrant Capital Group LLC increased its holdings in shares of AZEK by 45.9% during the 4th quarter. Quadrant Capital Group LLC now owns 728 shares of the company’s stock worth $28,000 after purchasing an additional 229 shares during the period. Tidal Investments LLC increased its holdings in shares of AZEK by 3.7% during the 1st quarter. Tidal Investments LLC now owns 7,060 shares of the company’s stock worth $355,000 after purchasing an additional 251 shares during the period. Venturi Wealth Management LLC increased its holdings in shares of AZEK by 58.9% during the 1st quarter. Venturi Wealth Management LLC now owns 707 shares of the company’s stock worth $36,000 after purchasing an additional 262 shares during the period. Treasurer of the State of North Carolina increased its holdings in shares of AZEK by 1.0% during the 4th quarter. Treasurer of the State of North Carolina now owns 58,496 shares of the company’s stock worth $2,237,000 after purchasing an additional 570 shares during the period. Finally, ORG Partners LLC bought a new position in shares of AZEK during the 1st quarter worth about $35,000. Institutional investors and hedge funds own 97.44% of the company’s stock.

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.