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

AZEK (NYSE:AZEK) was downgraded by investment analysts at DA Davidson from a “buy” rating to a “neutral” rating in a research note issued on Wednesday, MarketBeat reports. They currently have a $44.00 price target on the stock, down from their previous price target of $57.00. DA Davidson’s price target points to a potential upside of 8.21% from the stock’s previous close.

AZEK has been the subject of several other research reports. Barclays lifted their target price on shares of AZEK from $50.00 to $58.00 and gave the company an “overweight” rating in a report on Thursday, April 4th. Benchmark began coverage on shares of AZEK in a report on Friday, April 19th. They issued a “buy” rating and a $55.00 target price for the company. Citigroup lifted their target price on shares of AZEK from $46.00 to $50.00 and gave the company a “neutral” rating in a report on Friday, April 5th. Truist Financial reissued a “buy” rating and issued a $57.00 price target on shares of AZEK in a research report on Tuesday, June 18th. Finally, Robert W. Baird decreased their price target on shares of AZEK from $60.00 to $58.00 and set an “outperform” rating for the company in a research report on Thursday, May 9th. Five investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $45.26.

AZEK Stock Performance

AZEK stock opened at $40.66 on Wednesday. The firm has a 50 day simple moving average of $45.50 and a 200-day simple moving average of $44.35. AZEK has a 1-year low of $25.03 and a 1-year high of $50.78. The company has a debt-to-equity ratio of 0.42, a current ratio of 3.40 and a quick ratio of 2.21. The stock has a market cap of $5.92 billion, a price-to-earnings ratio of 39.86, a price-to-earnings-growth ratio of 1.31 and a beta of 1.88.

Insider Transactions at AZEK

In other AZEK news, CEO Jesse G. Singh sold 13,000 shares of the company’s stock in a transaction dated Wednesday, April 10th. The shares were sold at an average price of $48.30, for a total transaction of $627,900.00. Following the transaction, the chief executive officer now directly owns 1,083,444 shares in the company, valued at $52,330,345.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other AZEK news, CEO Jesse G. Singh sold 13,000 shares of the company’s stock in a transaction dated Wednesday, April 10th. The shares were sold at an average price of $48.30, for a total transaction of $627,900.00. Following the transaction, the chief executive officer now directly owns 1,083,444 shares in the company, valued at $52,330,345.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Jonathan Skelly sold 12,000 shares of the company’s stock in a transaction dated Tuesday, June 18th. The stock was sold at an average price of $46.72, for a total transaction of $560,640.00. Following the transaction, the insider now owns 190,134 shares in the company, valued at $8,883,060.48. The disclosure for this sale can be found here. Insiders have sold a total of 38,000 shares of company stock worth $1,786,150 over the last ninety days. 3.10% of the stock is currently owned by company insiders.

Institutional Trading of AZEK

Several institutional investors and hedge funds have recently modified their holdings of the business. Los Angeles Capital Management LLC purchased a new position in shares of AZEK during the first quarter valued at approximately $11,683,000. Congress Asset Management Co. MA increased its position in AZEK by 26.3% during the first quarter. Congress Asset Management Co. MA now owns 237,326 shares of the company’s stock worth $11,919,000 after purchasing an additional 49,460 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in AZEK by 2.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,092,176 shares of the company’s stock worth $41,776,000 after purchasing an additional 20,912 shares during the last quarter. Redwood Investments LLC acquired a new position in AZEK during the fourth quarter worth approximately $2,893,000. Finally, Lecap Asset Management Ltd. acquired a new position in AZEK during the fourth quarter worth approximately $1,134,000. Hedge funds and other institutional investors own 97.44% of the company’s stock.

AZEK Company Profile

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.