Samara Toole, the Chief Marketing Officer of AZEK Co Inc. (NYSE:AZEK), a company currently valued at $7.55 billion and trading near its 52-week high of $54.91, recently executed a notable transaction involving the company's stock. According to a filing with the Securities and Exchange Commission, Toole sold 1,709 shares of AZEK's Class A Common Stock on December 17, 2024. The shares were sold at a price of $53 each, amounting to a total transaction value of $90,577. The transaction comes as AZEK has demonstrated strong momentum, with the stock delivering a nearly 39% return over the past year.
Additionally, on December 15, 2024, Toole acquired 2,337 restricted stock units (RSUs) and 4,104 non-qualified stock options. The RSUs will vest in three equal annual installments, starting one year from the grant date, contingent on continued service. The stock options, with an exercise price of $53.51, also vest in three equal annual installments under similar conditions.
Following these transactions, Toole holds 16,632 shares of AZEK's Class A Common Stock.
In other recent news, Azek Co. has been the subject of several analyst notes. RBC Capital Markets has raised its price target for Azek Co. to $58, while maintaining an Outperform rating, citing the company's resilience and strong financial prospects for fiscal year 2025. BMO Capital Markets and Loop Capital have also revised their price targets upward to $51 and $49 respectively, following Azek's robust fiscal fourth-quarter earnings and optimistic fiscal 2025 guidance.
Azek Co. anticipates a 5-7% revenue growth in FY25 and expects an adjusted EBITDA margin between 26.5-27%. This comes after the company secured a significant $815 million credit facility from Wells Fargo (NYSE:WFC) Securities and JPMorgan Chase (NYSE:JPM) Bank, expected to reduce Azek's funded debt by approximately $150 million, and entered into a $50 million accelerated share repurchase agreement with JPMorgan Chase Bank.
Baird, RBC Capital Markets, and DA Davidson also revised their targets upward to $54, $50, and $50 respectively, following Azek's optimistic fiscal 2025 guidance. These adjustments reflect the analysts' positive view of Azek Co.'s recent performance and future prospects. These are recent developments for Azek Co.
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