AZEK’s (AZEK) “Buy” Rating Reaffirmed at Truist Financial

Truist Financial restated their buy rating on shares of AZEK (NYSE:AZEK) in a research note released on Tuesday morning, Benzinga reports. The brokerage currently has a $57.00 target price on the stock.

Several other analysts have also recently weighed in on AZEK. Robert W. Baird decreased their price objective on shares of AZEK from $60.00 to $58.00 and set an outperform rating on the stock in a research note on Thursday, May 9th. Barclays upped their price objective on shares of AZEK from $50.00 to $58.00 and gave the stock an overweight rating in a research note on Thursday, April 4th. Benchmark began coverage on shares of AZEK in a research note on Friday, April 19th. They set a buy rating and a $55.00 price objective on the stock. Finally, Citigroup upped their price objective on shares of AZEK from $46.00 to $50.00 and gave the stock a neutral rating in a research note on Friday, April 5th. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average price target of $45.33.

AZEK Stock Performance

NYSE:AZEK opened at $44.44 on Tuesday. The company has a quick ratio of 1.67, a current ratio of 3.40 and a debt-to-equity ratio of 0.42. The firm has a market capitalization of $6.56 billion, a PE ratio of 43.57, a price-to-earnings-growth ratio of 1.47 and a beta of 1.91. AZEK has a 12-month low of $25.03 and a 12-month high of $50.78. The firm has a 50-day moving average price of $46.24 and a 200 day moving average price of $43.90.

Insider Buying and Selling at AZEK

In other AZEK news, CEO Jesse G. Singh sold 13,000 shares of the 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 sale, the chief executive officer now directly owns 1,070,444 shares in the company, valued at $49,208,310.68. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, insider Jonathan Skelly sold 12,000 shares of the firm’s 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 sale, the insider now directly owns 190,134 shares in the company, valued at $8,883,060.48. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Jesse G. Singh sold 13,000 shares of the firm’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $45.97, for a total transaction of $597,610.00. Following the sale, the chief executive officer now owns 1,070,444 shares in the company, valued at $49,208,310.68. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 38,000 shares of company stock valued at $1,786,150. 3.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On AZEK

A number of hedge funds and other institutional investors have recently made changes to their positions in AZEK. Quadrant Capital Group LLC increased its stake in AZEK by 45.9% in the 4th quarter. Quadrant Capital Group LLC now owns 728 shares of the company’s stock valued at $28,000 after buying an additional 229 shares during the last quarter. ORG Partners LLC acquired a new stake in AZEK in the 1st quarter valued at $35,000. Venturi Wealth Management LLC increased its stake in AZEK by 58.9% in the 1st quarter. Venturi Wealth Management LLC now owns 707 shares of the company’s stock valued at $36,000 after buying an additional 262 shares during the last quarter. Whittier Trust Co. acquired a new stake in AZEK in the 1st quarter valued at $37,000. Finally, Principal Securities Inc. acquired a new stake in AZEK in the 4th quarter valued at $44,000. 97.44% of the stock is currently owned by institutional investors and hedge funds.

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.