AZEK (NYSE:AZEK) Downgraded by Loop Capital

AZEK (NYSE:AZEKGet Rating) was downgraded by Loop Capital from a “buy” rating to a “hold” rating in a report released on Monday, The Fly reports.

A number of other brokerages also recently commented on AZEK. Barclays reduced their target price on shares of AZEK from $43.00 to $40.00 in a report on Thursday, March 31st. JPMorgan Chase & Co. reduced their target price on shares of AZEK from $37.00 to $32.00 and set an “overweight” rating for the company in a report on Wednesday, April 20th. Zelman & Associates began coverage on shares of AZEK in a report on Monday, March 14th. They issued a “hold” rating for the company. Credit Suisse Group began coverage on shares of AZEK in a report on Tuesday, April 5th. They issued an “outperform” rating and a $29.00 target price for the company. Finally, Zacks Investment Research upgraded shares of AZEK from a “sell” rating to a “hold” rating in a report on Wednesday, April 20th. Four analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $38.36.

AZEK stock opened at $22.84 on Monday. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.69 and a quick ratio of 0.91. The business has a 50-day moving average price of $25.80 and a 200 day moving average price of $34.24. The company has a market capitalization of $3.54 billion, a P/E ratio of 35.69 and a beta of 1.83. AZEK has a 1-year low of $21.04 and a 1-year high of $51.32.

AZEK (NYSE:AZEKGet Rating) last released its quarterly earnings data on Thursday, February 3rd. The company reported $0.17 earnings per share for the quarter, beating the consensus estimate of $0.16 by $0.01. The firm had revenue of $259.71 million during the quarter, compared to the consensus estimate of $256.70 million. AZEK had a return on equity of 10.30% and a net margin of 8.13%. The firm’s quarterly revenue was up 22.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.14 earnings per share. On average, analysts anticipate that AZEK will post 1.13 earnings per share for the current fiscal year.

In other news, CFO Peter G. Clifford bought 13,000 shares of the company’s stock in a transaction that occurred on Monday, February 7th. The shares were purchased at an average price of $30.24 per share, for a total transaction of $393,120.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Vernon J. Nagel bought 5,000 shares of the company’s stock in a transaction that occurred on Monday, February 7th. The stock was purchased at an average price of $30.41 per share, for a total transaction of $152,050.00. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 32,065 shares of company stock worth $946,833. 4.20% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. UMB Bank N A MO boosted its position in AZEK by 209.5% in the 1st quarter. UMB Bank N A MO now owns 26,000 shares of the company’s stock worth $646,000 after purchasing an additional 17,600 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in AZEK by 10.6% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,092 shares of the company’s stock worth $325,000 after purchasing an additional 1,253 shares in the last quarter. Virginia Retirement Systems ET AL purchased a new stake in AZEK in the 1st quarter worth approximately $663,000. CWM LLC boosted its position in AZEK by 416.9% in the 1st quarter. CWM LLC now owns 3,024 shares of the company’s stock worth $75,000 after purchasing an additional 2,439 shares in the last quarter. Finally, Retirement Systems of Alabama boosted its position in AZEK by 8.1% in the 1st quarter. Retirement Systems of Alabama now owns 148,915 shares of the company’s stock worth $3,699,000 after purchasing an additional 11,178 shares in the last quarter. Hedge funds and other institutional investors own 98.69% of the company’s stock.

AZEK Company Profile (Get Rating)

The AZEK Company Inc engages in designing, manufacturing, and selling building products for residential, commercial, and industrial markets in the United States. It operates through two segments: Residential and Commercial. The Residential segment designs and manufactures engineered outdoor living products, which includes decking, railing, trim and moulding, and accessories under the TimberTech, AZEK Exteriors, VERSATEX, and ULTRALOX brand name.

Further Reading

The Fly logo

Analyst Recommendations for AZEK (NYSE:AZEK)

Receive News & Ratings for AZEK Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AZEK and related companies with MarketBeat.com's FREE daily email newsletter.