Analysts at Wedbush initiated coverage on shares of The AZEK (NYSE:AZEK) in a research note issued on Monday, PriceTargets.com reports. The brokerage set an “outperform” rating and a $52.00 price target on the stock. Wedbush’s price objective suggests a potential upside of 11.13% from the company’s current price.
Several other research analysts have also commented on the stock. Loop Capital began coverage on shares of The AZEK in a report on Thursday, April 8th. They issued a “buy” rating and a $52.00 price objective for the company. Royal Bank of Canada upped their price objective on shares of The AZEK from $43.00 to $50.00 and gave the stock an “outperform” rating in a report on Tuesday, January 26th. BMO Capital Markets began coverage on shares of The AZEK in a report on Wednesday, January 13th. They issued an “outperform” rating and a $48.00 price objective for the company. Citigroup upped their price objective on shares of The AZEK from $42.00 to $47.00 in a report on Friday, February 12th. Finally, B. Riley increased their price target on shares of The AZEK from $48.00 to $50.00 and gave the stock a “buy” rating in a research note on Friday, February 12th. One research analyst has rated the stock with a sell rating, four have given a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. The AZEK has a consensus rating of “Buy” and a consensus target price of $43.39.
Shares of The AZEK stock opened at $46.79 on Monday. The AZEK has a 52-week low of $26.35 and a 52-week high of $48.79. The stock has a market capitalization of $7.24 billion and a price-to-earnings ratio of 79.31. The company has a fifty day moving average of $43.99 and a 200-day moving average of $39.74. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.38 and a current ratio of 3.42.
In related news, CFO Ralph J. Nicoletti sold 11,825 shares of the firm’s stock in a transaction that occurred on Friday, April 9th. The shares were sold at an average price of $46.75, for a total value of $552,818.75. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Ralph J. Nicoletti sold 8,175 shares of the firm’s stock in a transaction that occurred on Monday, April 12th. The stock was sold at an average price of $46.76, for a total transaction of $382,263.00. The disclosure for this sale can be found here. Insiders have sold a total of 35,000 shares of company stock worth $1,600,932 over the last three months.
Several institutional investors and hedge funds have recently bought and sold shares of the stock. Calamos Advisors LLC boosted its holdings in shares of The AZEK by 110.6% in the first quarter. Calamos Advisors LLC now owns 114,563 shares of the company’s stock worth $4,818,000 after buying an additional 60,164 shares during the last quarter. Hodges Capital Management Inc. raised its stake in The AZEK by 10.0% during the 1st quarter. Hodges Capital Management Inc. now owns 308,216 shares of the company’s stock worth $12,960,000 after acquiring an additional 27,926 shares during the period. Norges Bank bought a new stake in The AZEK during the 4th quarter worth approximately $22,005,000. UBS Asset Management Americas Inc. raised its stake in The AZEK by 426.9% during the 4th quarter. UBS Asset Management Americas Inc. now owns 535,267 shares of the company’s stock worth $20,581,000 after acquiring an additional 433,683 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new stake in The AZEK during the 4th quarter worth approximately $1,657,000. 94.35% of the stock is currently owned by institutional investors.
The AZEK Company Profile
The AZEK Company Inc engages in designing, manufacturing, and selling building products for residential, commercial, and industrial markets in the United States. The operates in two segments, Residential and Commercial. Its products include trims, decks, porches, moldings, railings, pavers, and bathroom and locker systems, as well as extruded plastic sheet products and other non-fabricated products for special applications in industrial markets.
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