AZEK (NYSE:AZEK) Stock Price Down 3%

The AZEK Company Inc. (NYSE:AZEK)’s stock price was down 3% on Friday . The company traded as low as $30.72 and last traded at $30.75. Approximately 69,639 shares changed hands during trading, a decline of 96% from the average daily volume of 1,683,954 shares. The stock had previously closed at $31.69.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. JPMorgan Chase & Co. upped their target price on shares of AZEK from $30.00 to $37.00 and gave the stock an “overweight” rating in a research report on Monday, August 14th. B. Riley upped their target price on shares of AZEK from $30.00 to $42.00 and gave the stock a “buy” rating in a research report on Thursday, August 10th. Citigroup upped their target price on shares of AZEK from $27.00 to $32.00 and gave the stock a “neutral” rating in a research report on Friday, July 14th. Barclays upped their target price on shares of AZEK from $39.00 to $41.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 9th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on shares of AZEK from $34.00 to $38.00 in a report on Thursday, August 10th. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $35.78.

AZEK Stock Performance

The stock has a market capitalization of $4.60 billion, a price-to-earnings ratio of 219.79, a price-to-earnings-growth ratio of 6.56 and a beta of 1.69. The company has a quick ratio of 2.08, a current ratio of 3.41 and a debt-to-equity ratio of 0.40. The stock’s 50-day simple moving average is $31.93 and its 200 day simple moving average is $27.57.

AZEK (NYSE:AZEK) last announced its earnings results on Tuesday, August 8th. The company reported $0.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.23 by $0.06. AZEK had a net margin of 1.60% and a return on equity of 5.53%. The company had revenue of $387.55 million for the quarter, compared to analyst estimates of $372.75 million. Analysts expect that The AZEK Company Inc. will post 0.56 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Jonathan Skelly sold 35,000 shares of the business’s stock in a transaction that occurred on Friday, August 11th. The shares were sold at an average price of $33.54, for a total transaction of $1,173,900.00. Following the completion of the sale, the insider now directly owns 191,463 shares of the company’s stock, valued at $6,421,669.02. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, insider Jonathan Skelly sold 35,000 shares of the company’s stock in a transaction that occurred on Friday, August 11th. The shares were sold at an average price of $33.54, for a total value of $1,173,900.00. Following the completion of the transaction, the insider now owns 191,463 shares in the company, valued at $6,421,669.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jesse G. Singh sold 30,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 6th. The shares were sold at an average price of $33.32, for a total transaction of $999,600.00. Following the completion of the transaction, the chief executive officer now owns 70,000 shares of the company’s stock, valued at approximately $2,332,400. The disclosure for this sale can be found here. Insiders sold a total of 78,000 shares of company stock valued at $2,598,080 over the last ninety days. Insiders own 3.10% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in AZEK. Portside Wealth Group LLC acquired a new position in AZEK during the second quarter worth $2,937,000. Alberta Investment Management Corp boosted its holdings in AZEK by 21.4% during the second quarter. Alberta Investment Management Corp now owns 101,730 shares of the company’s stock worth $3,081,000 after purchasing an additional 17,956 shares during the last quarter. Comerica Bank acquired a new position in AZEK during the second quarter worth $1,713,000. BOKF NA acquired a new position in AZEK during the second quarter worth $1,423,000. Finally, California State Teachers Retirement System boosted its holdings in AZEK by 4.3% during the second quarter. California State Teachers Retirement System now owns 147,244 shares of the company’s stock worth $4,460,000 after purchasing an additional 6,090 shares during the last quarter.

About AZEK

The AZEK Company Inc engages in manufacturing and selling of building products for residential, commercial, and industrial markets in the United States. 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.