AZEK (NYSE:AZEK) Cut to “Hold” at Baird R W

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

AZEK has been the subject of several other research reports. BMO Capital Markets lifted their price objective on shares of AZEK from $54.00 to $57.00 and gave the company a “market perform” rating in a research note on Monday. Stephens reiterated an “equal weight” rating and set a $58.00 price target on shares of AZEK in a report on Monday. Citigroup upgraded shares of AZEK from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $51.00 to $60.00 in a research note on Monday, January 6th. William Blair reiterated a “market perform” rating on shares of AZEK in a research note on Monday. Finally, JPMorgan Chase & Co. boosted their target price on shares of AZEK from $48.00 to $58.00 and gave the stock an “overweight” rating in a research report on Monday, November 25th. Eight equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $54.93.

AZEK Stock Performance

Shares of AZEK opened at $48.67 on Monday. AZEK has a 52 week low of $35.48 and a 52 week high of $54.91. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.19 and a current ratio of 2.56. The company has a market capitalization of $6.99 billion, a PE ratio of 49.16, a PEG ratio of 1.91 and a beta of 1.95. The company’s 50 day moving average price is $47.39 and its 200 day moving average price is $47.23.

AZEK (NYSE:AZEK) last released its quarterly earnings data on Tuesday, February 4th. The company reported $0.17 earnings per share (EPS) for the quarter, beating 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 expect that AZEK will post 1.34 EPS for the current fiscal year.

Insider Activity at AZEK

In other AZEK news, CEO Jesse G. Singh sold 20,387 shares of the business’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $50.08, for a total value of $1,020,980.96. Following the transaction, the chief executive officer now directly owns 883,765 shares in the company, valued at $44,258,951.20. The trade was a 2.25 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold a total of 55,000 shares of company stock valued at $2,518,624 in the last 90 days. 3.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

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