AZEK (NYSE:AZEK) Stock Rating Lowered by Baird R W

Baird R W cut shares of AZEK (NYSE:AZEK) from a strong-buy rating to a hold rating in a research note published on Monday,Zacks.com reports.

Several other equities analysts also recently issued reports on AZEK. JPMorgan Chase & Co. lifted their price target on shares of AZEK from $48.00 to $58.00 and gave the company an “overweight” rating in a report on Monday, November 25th. The Goldman Sachs Group raised their price target on AZEK from $52.00 to $59.00 and gave the company a “buy” rating in a report on Thursday, December 12th. Barclays lifted their target price on shares of AZEK from $58.00 to $64.00 and gave the stock an “overweight” rating in a report on Wednesday, December 11th. Citigroup raised AZEK from a “neutral” rating to a “buy” rating and upped their price target for the company from $51.00 to $60.00 in a research note on Monday, January 6th. Finally, William Blair restated a “market perform” rating on shares of AZEK in a research report on Monday. Eight research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $54.93.

AZEK Price Performance

Shares of AZEK stock opened at $48.67 on Monday. AZEK has a fifty-two week low of $35.48 and a fifty-two week high of $54.91. The company 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 firm has a fifty day moving average price of $47.39 and a two-hundred day moving average price of $47.23. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.56 and a quick ratio of 1.19.

AZEK (NYSE:AZEK) last announced its quarterly earnings results on Tuesday, February 4th. The company reported $0.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.03. AZEK had a net margin of 9.85% and a return on equity of 13.47%. Analysts expect that AZEK will post 1.34 EPS for the current year.

Insider Activity at AZEK

In related news, CEO Jesse G. Singh sold 19,613 shares of the firm’s stock in a transaction on Friday, January 10th. The shares were sold at an average price of $44.98, for a total value of $882,192.74. Following the completion of the transaction, the chief executive officer now owns 904,152 shares of the company’s stock, valued at approximately $40,668,756.96. This trade represents a 2.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In 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 Investors Weigh In On AZEK

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. FMR LLC raised its holdings in AZEK by 80.7% during the fourth quarter. FMR LLC now owns 12,311,577 shares of the company’s stock worth $584,431,000 after acquiring an additional 5,499,986 shares in the last quarter. Wellington Management Group LLP raised its stake in AZEK by 33.8% in the third quarter. Wellington Management Group LLP now owns 14,224,410 shares of the company’s stock valued at $665,702,000 after buying an additional 3,595,863 shares during the period. Norges Bank acquired a new stake in AZEK during the 4th quarter valued at $94,987,000. Balyasny Asset Management L.P. raised its holdings in AZEK by 493.6% in the 4th quarter. Balyasny Asset Management L.P. now owns 1,681,629 shares of the company’s stock valued at $79,827,000 after acquiring an additional 1,398,340 shares during the period. Finally, Arrowstreet Capital Limited Partnership boosted its holdings in shares of AZEK by 72.7% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,957,094 shares of the company’s stock worth $92,903,000 after acquiring an additional 823,588 shares during the period. 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.