The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. The AZEK Company Inc. shares valued at $94,450 were purchased by NAGEL VERNON J on May 16. At $18.89 per share, NAGEL VERNON J acquired 5,000 shares. The insider’s holdings grew to 22,950 shares worth approximately $0.47 million following the completion of this transaction.
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Also, Lamartine Sandra purchased 965 shares, netting a total of over 25,100 in proceeds. Following the buying of shares at $26.01 each, the insider now holds 11,160 shares.
Before that, NAGEL VERNON J had added 4,000 shares to its account. In a trade valued at $100,560, the Director bought The AZEK Company Inc. shares for $25.14 each. Upon closing the transaction, the insider’s holdings increased to 4,000 shares, worth approximately $0.25 million.
As published in a research note from BofA Securities on June 17, 2022, The AZEK Company Inc. [AZEK] has been rated up from a Neutral to a Buy and the price target has been revised to $22 from $23. This represents a 7.23% premium over Thursday’s closing price. As of April 25, 2022, Loop Capital has decreased its “Buy” rating to a “Hold” for AZEK. Earlier on April 22, 2022, Citigroup upgraded its rating. Their new recommendation was “a Buy” for AZEK stock which previously was a “a Neutral”.
Analyzing AZEK’s Price Performance
On Thursday, The AZEK Company Inc. [NYSE: AZEK] rose 0.29% to $20.41. The stock’s lowest price that day was $18.80, but it reached a high of $20.86 in the same session. During the last five days, there has been a surge of approximately 1.74%. Over the course of the year, The AZEK Company Inc. shares have dropped approximately -55.86%. Shares of the company reached a 52-week high of $46.56 on 01/04/22 and a 52-week low of $15.52 on 06/16/22. A 50-day SMA is recorded $19.24, while a 200-day SMA reached $28.98. Nevertheless, trading volume fell to 3.51 million shares from 1.46 million shares the previous day.
Support And Resistance Levels for The AZEK Company Inc. (AZEK)
According to the 24-hour chart, there is a support level at 19.19, which, if violated, would cause prices to drop to 17.96. In the upper region, resistance lies at 21.25. The next price resistance is at 22.08. RSI (Relative Strength Index) is 58.18 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.30, which suggests the price will decrease in the coming days. Percent R is at 30.12%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
Is The AZEK Company Inc. subject to short interest?
Stocks of The AZEK Company Inc. saw a sharp steep in short interest on Jul 14, 2022 dropping by -0.65 million shares to 5.31 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 5.96 million shares. A decline of -12.24% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 2.53 of the overall float, the days-to-cover ratio (short ratio) decline to 2.53.
Which companies own the most shares of The AZEK Company Inc. (AZEK)?
According to Ares Management LLC filings, the company currently owns 19,096,090 shares, which is about 12.31% of the total AZEK shares outstanding. The investor’s shares have plunged by 0 from its previous 13-F filing of 19096090.0 shares. With the completion of the sale transaction, Ontario Teachers’ Pension Plan Bo’s stake is now worth $319,666,873. The Vanguard Group, Inc. acquire a 1.17% interest valued at $162.9 million while Massachusetts Financial Services purchased a 1,023,425 stake. A total of -195,366 shares of The AZEK Company Inc. were bought by BlackRock Advisors LLC during the quarter, and -1,678,237 were sold by Fidelity Management & Research Co. In its current portfolio, BlackRock Fund Advisors holds 4,872,802 shares valued at $81.57 million.
In terms of The AZEK Company Inc. share price expectations, FactSet research, analysts set an average price target of $27.42 in the next 12 months, up nearly 27.76% from the previous closing price of $20.35. Analysts anticipate The AZEK Company Inc. stock to reach $57.00 by 2022, with the lowest price target being $20.00. In spite of this, 19 analysts ranked The AZEK Company Inc. stock as a Buy at the end of 2022. On April 05, 2022, Credit Suisse assigned a price target of “an Outperform” to the stock and initiated coverage with a $29.