AZEK (NYSE:AZEK) Downgraded by Baird R W to “Hold”

AZEK (NYSE:AZEK) was downgraded by stock analysts at Baird R W from a “strong-buy” rating to a “hold” rating in a research note issued on Monday,Zacks.com reports.

AZEK has been the subject of several other research reports. Robert W. Baird reaffirmed a “neutral” rating and issued a $53.00 target price (down previously from $58.00) on shares of AZEK in a research note on Monday. The Goldman Sachs Group lifted their target price on AZEK from $52.00 to $59.00 and gave the stock a “buy” rating in a report on Thursday, December 12th. William Blair restated a “market perform” rating on shares of AZEK in a report on Monday. Citigroup upgraded AZEK from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $51.00 to $60.00 in a report on Monday, January 6th. Finally, Stephens reissued an “equal weight” rating and set a $58.00 target price on shares of AZEK in a research note on Monday. Eight equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $54.93.

AZEK Stock Up 17.6 %

Shares of AZEK stock opened at $48.67 on Monday. The business has a fifty day simple moving average of $47.39 and a 200 day simple moving average of $47.23. The stock has a market cap of $6.99 billion, a PE ratio of 49.16, a price-to-earnings-growth ratio of 1.91 and a beta of 1.95. The company has a quick ratio of 1.19, a current ratio of 2.56 and a debt-to-equity ratio of 0.31. AZEK has a 12 month low of $35.48 and a 12 month high of $54.91.

AZEK (NYSE:AZEK) last issued its earnings results on Tuesday, February 4th. The company reported $0.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.14 by $0.03. AZEK had a return on equity of 13.47% and a net margin of 9.85%. Research analysts predict that AZEK will post 1.34 EPS for the current year.

Insider Activity at AZEK

In related news, CEO Jesse G. Singh sold 15,000 shares of the business’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $41.03, for a total transaction of $615,450.00. Following the transaction, the chief executive officer now directly owns 868,765 shares in the company, valued at approximately $35,645,427.95. The trade was a 1.70 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last quarter, insiders have sold 55,000 shares of company stock valued at $2,518,624. 3.20% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of AZEK. GAMMA Investing LLC lifted its stake in AZEK by 39.1% in the 4th quarter. GAMMA Investing LLC now owns 851 shares of the company’s stock valued at $40,000 after purchasing an additional 239 shares during the last quarter. Truist Financial Corp boosted its stake in shares of AZEK by 1.6% during the 4th quarter. Truist Financial Corp now owns 16,706 shares of the company’s stock worth $793,000 after acquiring an additional 255 shares during the period. Investment House LLC increased its holdings in shares of AZEK by 0.7% during the 4th quarter. Investment House LLC now owns 39,255 shares of the company’s stock worth $1,863,000 after acquiring an additional 290 shares during the last quarter. Federated Hermes Inc. raised its stake in AZEK by 4.8% in the 4th quarter. Federated Hermes Inc. now owns 6,984 shares of the company’s stock valued at $332,000 after acquiring an additional 318 shares during the period. Finally, Smartleaf Asset Management LLC lifted its holdings in AZEK by 13.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 3,040 shares of the company’s stock valued at $146,000 after purchasing an additional 352 shares during the last quarter. Institutional investors own 97.44% of the company’s stock.

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.