AZEK (NASDAQ:AZEK) Stock Rating Lowered by BidaskClub

AZEK (NASDAQ:AZEK) was downgraded by equities research analysts at BidaskClub from a “hold” rating to a “sell” rating in a research note issued on Tuesday, BidAskClub reports.

Several other equities analysts also recently weighed in on AZEK. Barclays raised their price target on AZEK from $42.00 to $44.00 and gave the stock an “overweight” rating in a research report on Thursday, August 20th. Zacks Investment Research upgraded AZEK from a “hold” rating to a “buy” rating and set a $38.00 price objective on the stock in a report on Monday. Deutsche Bank raised their price objective on AZEK from $35.00 to $45.00 and gave the stock a “buy” rating in a report on Friday, August 14th. Robert W. Baird initiated coverage on AZEK in a report on Tuesday, July 7th. They set an “outperform” rating and a $37.00 price objective on the stock. Finally, Goldman Sachs Group initiated coverage on AZEK in a report on Tuesday, July 7th. They set a “neutral” rating and a $35.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $38.50.

AZEK stock opened at $33.86 on Tuesday. The business’s fifty day moving average is $36.83. AZEK has a fifty-two week low of $26.35 and a fifty-two week high of $42.16.

AZEK (NASDAQ:AZEK) last released its quarterly earnings results on Thursday, August 13th. The company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.15 by ($0.02). The business had revenue of $223.71 million during the quarter, compared to the consensus estimate of $209.31 million.

In other AZEK news, SVP Jonathan Skelly sold 25,646 shares of the business’s stock in a transaction dated Tuesday, September 15th. The stock was sold at an average price of $33.25, for a total transaction of $852,729.50. Following the transaction, the senior vice president now owns 266,199 shares in the company, valued at $8,851,116.75. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Gary E. Hendrickson sold 30,303 shares of the business’s stock in a transaction dated Tuesday, September 15th. The stock was sold at an average price of $33.25, for a total value of $1,007,574.75. Following the transaction, the director now owns 294,776 shares in the company, valued at approximately $9,801,302. The disclosure for this sale can be found here. Insiders sold 405,708 shares of company stock worth $13,489,791 in the last quarter.

Several institutional investors and hedge funds have recently modified their holdings of the business. Nuveen Asset Management LLC acquired a new position in shares of AZEK during the second quarter worth about $2,267,000. Stephens Inc. AR purchased a new stake in shares of AZEK during the second quarter worth about $70,000. Stephens Investment Management Group LLC purchased a new stake in shares of AZEK during the second quarter worth about $12,809,000. Blackstone Group Inc purchased a new stake in shares of AZEK during the second quarter worth about $7,965,000. Finally, CNH Partners LLC purchased a new stake in shares of AZEK during the second quarter worth about $319,000.

About AZEK

The AZEK Company Inc engages in manufacturing and selling building products for residential, commercial, and industrial markets in the United States. Its products include trims, decks, porches, moldings, rails, pavers, and bathroom and locker systems, as well as extruded plastic sheet products and other non-fabricated products for special applications in industrial markets.

Further Reading: Systematic Risk and Investors

Analyst Recommendations for AZEK (NASDAQ:AZEK)

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