AZEK (NYSE:AZEK) Sees Strong Trading Volume – Still a Buy?

The AZEK Company Inc. (NYSE:AZEK) shares saw strong trading volume on Wednesday . 2,297,732 shares traded hands during trading, an increase of 17% from the previous session’s volume of 1,964,289 shares.The stock last traded at $48.69 and had previously closed at $48.45.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on AZEK shares. Royal Bank of Canada upped their target price on shares of AZEK from $50.00 to $58.00 and gave the company an “outperform” rating in a report on Friday, December 13th. Stephens cut shares of AZEK from an “overweight” rating to a “mixed” rating in a research note on Monday, March 24th. William Blair reiterated a “market perform” rating on shares of AZEK in a report on Monday, March 24th. Citigroup restated a “neutral” rating and set a $51.50 price objective (down previously from $61.00) on shares of AZEK in a report on Tuesday, March 25th. Finally, Wolfe Research reiterated a “peer perform” rating on shares of AZEK in a research note on Wednesday, March 26th. Nine equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $54.32.

AZEK Trading Up 0.7 %

The company has a debt-to-equity ratio of 0.31, a current ratio of 2.56 and a quick ratio of 1.19. The business’s 50-day simple moving average is $47.35 and its two-hundred day simple moving average is $47.53. The stock has a market capitalization of $7.01 billion, a price-to-earnings ratio of 49.27, a PEG ratio of 1.91 and a beta of 1.95.

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

Insiders Place Their Bets

In other AZEK news, CEO Jesse G. Singh sold 15,000 shares of the business’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $41.03, for a total value of $615,450.00. Following the transaction, the chief executive officer now owns 868,765 shares in the company, valued at $35,645,427.95. The trade was a 1.70 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders sold a total of 55,000 shares of company stock worth $2,518,624 in the last 90 days. 3.20% of the stock is owned by company insiders.

Institutional Trading of AZEK

Hedge funds and other institutional investors have recently modified their holdings of the business. Empowered Funds LLC acquired a new stake in AZEK during the 4th quarter valued at approximately $27,000. FIL Ltd purchased a new position in shares of AZEK during the 4th quarter valued at approximately $28,000. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in shares of AZEK by 623.2% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 687 shares of the company’s stock worth $33,000 after buying an additional 592 shares in the last quarter. Avalon Trust Co bought a new stake in shares of AZEK in the fourth quarter worth $38,000. Finally, GAMMA Investing LLC increased its stake in shares of AZEK by 39.1% in the fourth quarter. GAMMA Investing LLC now owns 851 shares of the company’s stock worth $40,000 after buying an additional 239 shares during the last quarter. 97.44% of the stock is owned by hedge funds and other institutional investors.

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.