The AZEK Company Inc. (NYSE:AZEK) Receives $53.73 Average Price Target from Analysts

Shares of The AZEK Company Inc. (NYSE:AZEK) have received a consensus rating of “Moderate Buy” from the fifteen analysts that are currently covering the stock, MarketBeat reports. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $53.73.

Several research analysts have weighed in on AZEK shares. Royal Bank of Canada increased their price objective on AZEK from $50.00 to $58.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. Truist Financial lifted their price objective on shares of AZEK from $52.00 to $57.00 and gave the stock a “buy” rating in a research note on Wednesday, November 20th. The Goldman Sachs Group boosted their price objective on shares of AZEK from $52.00 to $59.00 and gave the company a “buy” rating in a report on Thursday, December 12th. Citigroup raised shares of AZEK from a “neutral” rating to a “buy” rating and raised their target price for the stock from $51.00 to $60.00 in a report on Monday, January 6th. Finally, Barclays increased their price target on AZEK from $58.00 to $64.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 11th.

Insider Buying and Selling at AZEK

In other AZEK news, CEO Jesse G. Singh sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $53.32, for a total value of $1,066,400.00. Following the sale, the chief executive officer now owns 923,765 shares in the company, valued at $49,255,149.80. This trade represents a 2.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CMO Samara Toole sold 1,709 shares of the company’s stock in a transaction 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 transaction, the chief marketing officer now owns 16,632 shares of the company’s stock, valued at $881,496. This trade represents a 9.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 41,322 shares of company stock worth $2,039,170 over the last 90 days. Insiders own 3.10% of the company’s stock.

Institutional Trading of AZEK

A number of hedge funds have recently made changes to their positions in AZEK. Wellington Management Group LLP increased its stake in shares of AZEK by 33.8% in the third quarter. Wellington Management Group LLP now owns 14,224,410 shares of the company’s stock valued at $665,702,000 after buying an additional 3,595,863 shares during the period. FMR LLC increased its position in AZEK by 57.9% in the 3rd quarter. FMR LLC now owns 6,811,591 shares of the company’s stock valued at $318,782,000 after acquiring an additional 2,497,074 shares during the period. State Street Corp increased its position in AZEK by 1.9% in the 3rd quarter. State Street Corp now owns 2,451,483 shares of the company’s stock valued at $114,729,000 after acquiring an additional 45,774 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of AZEK by 5.3% during the second quarter. Dimensional Fund Advisors LP now owns 2,354,096 shares of the company’s stock valued at $99,175,000 after acquiring an additional 118,351 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of AZEK by 0.5% during the third quarter. Geode Capital Management LLC now owns 2,330,636 shares of the company’s stock worth $109,105,000 after purchasing an additional 12,644 shares during the period. 97.44% of the stock is owned by institutional investors and hedge funds.

AZEK Price Performance

Shares of NYSE AZEK opened at $49.91 on Friday. The firm has a market cap of $7.14 billion, a P/E ratio of 47.99, a price-to-earnings-growth ratio of 1.96 and a beta of 1.94. The business’s 50 day moving average is $49.63 and its 200-day moving average is $45.47. The company has a current ratio of 2.17, a quick ratio of 1.14 and a debt-to-equity ratio of 0.32. AZEK has a 1-year low of $35.48 and a 1-year high of $54.91.

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.