Citigroup Reiterates Neutral Rating for AZEK (NYSE:AZEK)

AZEK (NYSE:AZEK)‘s stock had its “neutral” rating reiterated by equities research analysts at Citigroup in a research note issued on Tuesday,Benzinga reports. They currently have a $51.50 target price on the stock, down from their previous target price of $61.00. Citigroup’s price target would suggest a potential upside of 5.83% from the stock’s previous close.

A number of other analysts also recently issued reports on the stock. Stephens reaffirmed an “equal weight” rating and set a $58.00 price target on shares of AZEK in a report on Monday. JPMorgan Chase & Co. raised their target price on shares of AZEK from $48.00 to $58.00 and gave the stock an “overweight” rating in a report on Monday, November 25th. Barclays boosted their target price on shares of AZEK from $58.00 to $64.00 and gave the company an “overweight” rating in a research note on Wednesday, December 11th. Baird R W downgraded AZEK from a “strong-buy” rating to a “hold” rating in a research note on Monday. Finally, BMO Capital Markets upped their price objective on AZEK from $54.00 to $57.00 and gave the company a “market perform” rating in a research report on Monday. Nine equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $54.32.

AZEK Price Performance

Shares of NYSE AZEK opened at $48.67 on Tuesday. The firm has a market cap of $6.99 billion, a P/E ratio of 49.16, a PEG ratio of 1.91 and a beta of 1.95. AZEK has a twelve month low of $35.48 and a twelve month high of $54.91. The company has a quick ratio of 1.19, a current ratio of 2.56 and a debt-to-equity ratio of 0.31. The company has a 50 day moving average of $47.39 and a 200 day moving average of $47.23.

AZEK (NYSE:AZEK) last posted its quarterly earnings results on Tuesday, February 4th. The company reported $0.17 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.03. AZEK had a return on equity of 13.47% and a net margin of 9.85%. As a group, research analysts expect that AZEK will post 1.34 EPS for the current fiscal year.

Insider Buying and Selling at AZEK

In other news, CEO Jesse G. Singh sold 19,613 shares of the stock in a transaction on Friday, January 10th. The shares were sold at an average price of $44.98, for a total value of $882,192.74. Following the completion of the sale, the chief executive officer now directly owns 904,152 shares of the company’s stock, valued at $40,668,756.96. This represents a 2.12 % 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 55,000 shares of company stock valued at $2,518,624 over the last 90 days. 3.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in shares of AZEK by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 14,430,833 shares of the company’s stock valued at $685,032,000 after acquiring an additional 54,725 shares in the last quarter. Wellington Management Group LLP raised its stake in AZEK by 33.8% during the 3rd quarter. Wellington Management Group LLP now owns 14,224,410 shares of the company’s stock valued at $665,702,000 after purchasing an additional 3,595,863 shares during the period. FMR LLC lifted its holdings in AZEK by 80.7% in the 4th quarter. FMR LLC now owns 12,311,577 shares of the company’s stock worth $584,431,000 after purchasing an additional 5,499,986 shares in the last quarter. Alliancebernstein L.P. boosted its stake in AZEK by 15.0% in the 4th quarter. Alliancebernstein L.P. now owns 3,294,619 shares of the company’s stock worth $156,396,000 after purchasing an additional 429,574 shares during the period. Finally, State Street Corp grew its holdings in AZEK by 1.9% during the 3rd quarter. State Street Corp now owns 2,451,483 shares of the company’s stock valued at $114,729,000 after buying an additional 45,774 shares in the last quarter. Institutional investors own 97.44% of the company’s stock.

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.