AZEK (NYSE:AZEK) Rating Lowered to Neutral at DA Davidson

AZEK (NYSE:AZEK) was downgraded by equities researchers at DA Davidson from a “buy” rating to a “neutral” rating in a report issued on Wednesday, Briefing.com reports. They presently have a $44.00 target price on the stock, down from their previous target price of $57.00. DA Davidson’s price objective indicates a potential upside of 5.69% from the stock’s current price.

Several other equities research analysts have also recently weighed in on the company. Citigroup upped their price target on AZEK from $46.00 to $50.00 and gave the stock a “neutral” rating in a research note on Friday, April 5th. Truist Financial reissued a “buy” rating and issued a $57.00 target price on shares of AZEK in a report on Tuesday, June 18th. Robert W. Baird dropped their target price on AZEK from $60.00 to $58.00 and set an “outperform” rating on the stock in a report on Thursday, May 9th. Benchmark assumed coverage on AZEK in a report on Friday, April 19th. They issued a “buy” rating and a $55.00 target price on the stock. Finally, Barclays boosted their target price on AZEK from $50.00 to $58.00 and gave the stock an “overweight” rating in a report on Thursday, April 4th. Five equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, AZEK has a consensus rating of “Moderate Buy” and an average target price of $45.26.

AZEK Price Performance

Shares of AZEK stock opened at $41.63 on Wednesday. The stock has a market cap of $6.06 billion, a price-to-earnings ratio of 40.81, a PEG ratio of 1.33 and a beta of 1.88. The business’s fifty day moving average is $45.69 and its 200 day moving average is $44.40. AZEK has a twelve month low of $25.03 and a twelve month high of $50.78. The company has a quick ratio of 2.21, a current ratio of 3.40 and a debt-to-equity ratio of 0.42.

Insider Buying and Selling at AZEK

In other AZEK news, insider Jonathan Skelly sold 12,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 18th. The stock was sold at an average price of $46.72, for a total transaction of $560,640.00. Following the completion of the transaction, the insider now owns 190,134 shares in the company, valued at approximately $8,883,060.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other AZEK news, insider Jonathan Skelly sold 12,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 18th. The stock was sold at an average price of $46.72, for a total transaction of $560,640.00. Following the completion of the transaction, the insider now owns 190,134 shares in the company, valued at approximately $8,883,060.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jesse G. Singh sold 13,000 shares of the firm’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $45.97, for a total value of $597,610.00. Following the transaction, the chief executive officer now owns 1,070,444 shares of the company’s stock, valued at approximately $49,208,310.68. The disclosure for this sale can be found here. Insiders sold 38,000 shares of company stock worth $1,786,150 in the last quarter. 3.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On AZEK

Institutional investors have recently modified their holdings of the stock. American Trust bought a new stake in shares of AZEK during the 1st quarter worth approximately $201,000. Tidal Investments LLC lifted its stake in shares of AZEK by 3.7% during the 1st quarter. Tidal Investments LLC now owns 7,060 shares of the company’s stock worth $355,000 after acquiring an additional 251 shares during the last quarter. Interval Partners LP bought a new stake in shares of AZEK during the 1st quarter worth approximately $14,217,000. Bayesian Capital Management LP bought a new stake in shares of AZEK during the 1st quarter worth approximately $2,240,000. Finally, Price T Rowe Associates Inc. MD lifted its stake in shares of AZEK by 66.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,466,145 shares of the company’s stock worth $73,631,000 after acquiring an additional 587,107 shares during the last quarter. 97.44% of the stock is owned by 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.