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Loop Capital Downgrades AZEK Company Inc (AZEK) to a Hold from a Buy

In a filing, AZEK Company Inc revealed its Pres. Res. & Comm. Skelly Jonathan unloaded Company’s shares for reported $0.78 million on Aug 16 ’24. In the deal valued at $41.15 per share,19,022 shares were sold. As a result of this transaction, Skelly Jonathan now holds 189,974 shares worth roughly $8.68 million.

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Then, Singh Jesse G sold 20,000 shares, generating $829,400 in total proceeds. Upon selling the shares at $41.47, the CEO and President now owns 186,705 shares.

Before that, Edwards Pamela J bought 600 shares. AZEK Company Inc shares valued at $25,020 were divested by the Director at a price of $41.70 per share. As a result of the transaction, Edwards Pamela J now holds 8,708 shares, worth roughly $0.4 million.

Loop Capital downgraded its AZEK Company Inc [AZEK] rating to a Hold from a a Buy in a research note published recently. A number of analysts have revised their coverage, including BMO Capital Markets’s analysts, who decreased its forecast for the stock in late July from “an Outperform” to “a Market perform”. DA Davidson also remained covering AZEK and has decreased its forecast on July 03, 2024 with a “Neutral” recommendation from previously “Buy” rating. The Benchmark Company started covering the stock on April 19, 2024. It rated AZEK as “a Buy”.

Price Performance Review of AZEK

On Friday, AZEK Company Inc [NYSE:AZEK] saw its stock fall -2.33% to $45.67. Over the last five days, the stock has lost -2.91%. AZEK Company Inc shares have risen nearly 19.40% since the year began. Nevertheless, the stocks have risen 47.94% over the past one year. While a 52-week high of $50.78 was reached on 03/28/24, a 52-week low of $30.36 was recorded on 01/04/24. SMA at 50 days reached $44.80, while 200 days put it at $45.07.

Levels Of Support And Resistance For AZEK Stock

The 24-hour chart illustrates a support level at 45.32, which if violated will result in even more drops to 44.96. On the upside, there is a resistance level at 46.38. A further resistance level may holdings at 47.08. The Relative Strength Index (RSI) on the 14-day chart is 52.43, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.80, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 49.37%. Stochastics %K at 69.77% indicates the stock is a holding.

How much short interest is there in AZEK Company Inc?

A steep rise in short interest was recorded in AZEK Company Inc stocks on 2024-10-31, growing by 0.16 million shares to a total of 5.63 million shares. Yahoo Finance data shows the prior-month short interest on 2024-09-30 was 5.47 million shares. There was a rise of 2.92%, which implies that there is a positive sentiment for the stock.

The most recent change occurred on December 12, 2023 when Wolfe Research began covering the stock and recommended ‘”an Outperform”‘ rating along with a $43 price target.

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