DA Davidson Downgrades AZEK (NYSE:AZEK) to Neutral

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

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

Read our latest stock report on AZEK

AZEK price performance

AZEK stock opened at $41.63 on Wednesday. The stock has a market capitalization 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 company’s 50 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 current ratio of 2.21, a current ratio of 3.40 and a debt-to-equity ratio of 0.42.

Buying and selling insider information at AZEK

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

Institutional investors rate AZEK

Institutional investors recently changed their holdings in the stock. American Trust bought a new stake in AZEK in Q1 worth approximately $201,000. Tidal Investments LLC increased its holding in AZEK by 3.7% in Q1. Tidal Investments LLC now owns 7,060 shares of the company’s stock worth $355,000 after acquiring an additional 251 shares in the last quarter. Interval Partners LP bought a new stake in AZEK in Q1 worth approximately $14,217,000. Bayesian Capital Management LP bought a new stake in AZEK in Q1 worth approximately $2,240,000. Finally, Price T Rowe Associates Inc. MD increased its holding in AZEK by 66.8% in Q1. Price T Rowe Associates Inc. MD now owns 1,466,145 shares of the company’s stock valued at $73,631,000 after acquiring an additional 587,107 shares during the last quarter. 97.44% of the shares are owned by institutional investors.

About AZEK

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AZEK Company Inc. designs, manufactures, and markets building products for the residential, commercial, and industrial markets in the United States and Canada. It operates in two segments: Residential and Commercial. The Residential segment designs and manufactures engineered exterior products, such as decks, railings, moldings and cornices, siding and cladding, pergolas and gazebos, and accessories under the TimberTech, AZEK Exteriors, VERSATEX, ULTRALOX, StruXure, and INTEX brand names.

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