AZEK (NYSE:AZEK) Stock Rating Lowered by Loop Capital

AZEK (NYSE:AZEK) was downgraded by investment analysts at Loop Capital from a “buy” rating to a “hold” rating in a report issued on Friday, MarketBeat Ratings reports. They currently have a $47.00 price target on the stock. Loop Capital’s target price would suggest a potential upside of 7.33% from the company’s current price.

Several other research analysts also recently commented on AZEK. The Goldman Sachs Group cut their target price on AZEK from $56.00 to $50.00 and set a “buy” rating on the stock in a report on Wednesday, July 10th. DA Davidson cut AZEK from a “buy” rating to a “neutral” rating and reduced their target price for the company from $57.00 to $44.00 in a report on Wednesday, July 3rd. Citigroup lowered their price target on shares of AZEK from $50.00 to $44.00 and set a “neutral” rating for the company in a report on Thursday, July 11th. Royal Bank of Canada reduced their price objective on shares of AZEK from $49.00 to $46.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. Finally, Stifel Nicolaus lowered their target price on shares of AZEK from $52.00 to $50.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Six equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $47.94.

AZEK Price Performance

AZEK stock opened at $43.79 on Friday. The stock has a 50-day moving average price of $43.01 and a two-hundred day moving average price of $44.90. AZEK has a 12 month low of $25.03 and a 12 month high of $50.78. The company has a market capitalization of $6.37 billion, a PE ratio of 42.93, a P/E/G ratio of 1.43 and a beta of 1.88. The company has a current ratio of 3.07, a quick ratio of 2.11 and a debt-to-equity ratio of 0.41.

AZEK (NYSE:AZEK) last posted its earnings results on Wednesday, August 7th. The company reported $0.42 EPS for the quarter, topping the consensus estimate of $0.36 by $0.06. AZEK had a net margin of 11.35% and a return on equity of 13.38%. The business had revenue of $434.40 million for the quarter, compared to the consensus estimate of $396.89 million. During the same period last year, the company earned $0.29 EPS. The firm’s revenue was up 12.1% compared to the same quarter last year. Analysts expect that AZEK will post 1.05 EPS for the current year.

AZEK announced that its board has approved a stock buyback plan on Monday, June 17th that permits the company to buyback $600.00 million in shares. This buyback authorization permits the company to buy up to 9.7% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

Insider Transactions at AZEK

In related news, CEO Jesse G. Singh sold 20,000 shares of AZEK stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $41.47, for a total value of $829,400.00. Following the completion of the sale, the chief executive officer now owns 186,705 shares of the company’s stock, valued at approximately $7,742,656.35. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CEO Jesse G. Singh sold 20,000 shares of the firm’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $41.47, for a total value of $829,400.00. Following the transaction, the chief executive officer now owns 186,705 shares of the company’s stock, valued at approximately $7,742,656.35. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jesse G. Singh sold 13,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 10th. The stock was sold at an average price of $41.75, for a total value of $542,750.00. Following the sale, the chief executive officer now directly owns 1,024,444 shares of the company’s stock, valued at $42,770,537. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. ORG Partners LLC purchased a new position in AZEK in the first quarter worth $35,000. Whittier Trust Co. purchased a new position in shares of AZEK in the 1st quarter worth about $37,000. Versant Capital Management Inc grew its position in AZEK by 5,452.2% during the second quarter. Versant Capital Management Inc now owns 1,277 shares of the company’s stock valued at $54,000 after buying an additional 1,254 shares during the period. 1620 Investment Advisors Inc. purchased a new stake in AZEK during the second quarter worth about $90,000. Finally, Signaturefd LLC raised its position in AZEK by 32.7% in the second quarter. Signaturefd LLC now owns 2,157 shares of the company’s stock worth $91,000 after acquiring an additional 532 shares during the period. 97.44% of the stock is owned by institutional investors.

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.