DA Davidson Downgrades Azek Co. (AZEK) to Neutral

DA Davidson analyst Kurt Yinger downgraded Azek Co. (NYSE: AZEK) from Buy to Neutral with a price target of $44.00 (from $57.00).

The analyst comments "Our latest decking contractor survey points to a deceleration in activity over 2Q24, with near-term contractor growth expectations also having moved lower. As a result, we are downgrading AZEK from Buy to NEUTRAL and maintaining our NEUTRAL rating on TREX. While guidance for both companies includes an assumption of decelerating sell-through over 2H24, we see less likelihood of upside to estimates and believe that the weakening trend will serve as an overhang on sentiment, limiting the potential for multiple expansion near-term."

For an analyst ratings summary and ratings history on Azek Co. click here. For more ratings news on Azek Co. click here.

Shares of Azek Co. closed at $41.63 yesterday.

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