AZEK (NYSE:AZEK) Shares Gap Down After Analyst Downgrade

The AZEK Company Inc. (NYSE:AZEK - Get Free Report)'s stock price gapped down before the market opened on Thursday after Robert W. Baird lowered their price target on the stock from $60.00 to $58.00. The stock had previously closed at $44.92, but opened at $42.50. Robert W. Baird currently has an outperform rating on the stock. AZEK shares last traded at $43.69, with a volume of 571,543 shares traded.

Several other equities research analysts also recently weighed in on the company. Benchmark assumed coverage on AZEK in a report on Friday, April 19th. They set a "buy" rating and a $55.00 price target for the company. BMO Capital Markets raised their price objective on shares of AZEK from $39.00 to $46.00 and gave the company an "outperform" rating in a research report on Thursday, February 8th. Stifel Nicolaus boosted their target price on AZEK from $44.00 to $52.00 and gave the stock a "buy" rating in a research report on Wednesday, February 7th. Citigroup increased their target price on AZEK from $46.00 to $50.00 and gave the stock a "neutral" rating in a research note on Friday, April 5th. Finally, Stephens lifted their price target on AZEK from $40.00 to $50.00 and gave the company an "overweight" rating in a research note on Wednesday, February 7th. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $44.83.

Insider Activity

In other news, insider Michelle A. Kasson sold 94,431 shares of the business's stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $49.47, for a total value of $4,671,501.57. Following the completion of the transaction, the insider now directly owns 23,544 shares of the company's stock, valued at $1,164,721.68. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other AZEK news, CEO Jesse G. Singh sold 13,000 shares of AZEK stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $45.34, for a total value of $589,420.00. Following the completion of the sale, the chief executive officer now directly owns 1,184,444 shares of the company's stock, valued at approximately $53,702,690.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Michelle A. Kasson sold 94,431 shares of the stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $49.47, for a total value of $4,671,501.57. Following the transaction, the insider now directly owns 23,544 shares in the company, valued at approximately $1,164,721.68. The disclosure for this sale can be found here. Insiders have sold 130,431 shares of company stock worth $6,356,622 over the last ninety days. 3.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On AZEK

Institutional investors have recently added to or reduced their stakes in the business. Venturi Wealth Management LLC increased its stake in shares of AZEK by 58.9% during the 1st quarter. Venturi Wealth Management LLC now owns 707 shares of the company's stock valued at $36,000 after acquiring an additional 262 shares during the last quarter. ORG Partners LLC acquired a new position in AZEK during the first quarter worth approximately $35,000. Quadrant Capital Group LLC increased its position in AZEK by 45.9% during the fourth quarter. Quadrant Capital Group LLC now owns 728 shares of the company's stock worth $28,000 after purchasing an additional 229 shares during the last quarter. Whittier Trust Co. purchased a new position in AZEK during the first quarter worth approximately $37,000. Finally, Principal Securities Inc. acquired a new position in shares of AZEK in the 4th quarter valued at $44,000. 97.44% of the stock is currently owned by institutional investors and hedge funds.

AZEK Price Performance

The company has a current ratio of 2.99, a quick ratio of 1.67 and a debt-to-equity ratio of 0.43. The company has a market capitalization of $6.70 billion, a PE ratio of 56.85, a PEG ratio of 1.50 and a beta of 1.93. The company's 50 day moving average price is $47.78 and its 200-day moving average price is $40.28.

AZEK (NYSE:AZEK - Get Free Report) last announced its quarterly earnings results on Tuesday, February 6th. The company reported $0.08 EPS for the quarter, topping the consensus estimate of $0.03 by $0.05. The company had revenue of $240.44 million during the quarter, compared to analyst estimates of $234.12 million. AZEK had a return on equity of 9.61% and a net margin of 8.57%. On average, sell-side analysts forecast that The AZEK Company Inc. will post 1.03 earnings per share for the current fiscal year.

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.