The AZEK Company Inc. (NYSE:AZEK) CEO Sells $615,450.00 in Stock

The AZEK Company Inc. (NYSE:AZEK) CEO Jesse G. Singh sold 15,000 shares of AZEK stock in a transaction on Monday, March 10th. The stock was sold at an average price of $41.03, for a total value of $615,450.00. Following the transaction, the chief executive officer now owns 868,765 shares in the company, valued at approximately $35,645,427.95. This represents a 1.70 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

AZEK Stock Down 0.7 %

Shares of AZEK stock traded down $0.28 on Tuesday, reaching $40.08. 2,308,620 shares of the company were exchanged, compared to its average volume of 1,737,035. The AZEK Company Inc. has a 1-year low of $35.48 and a 1-year high of $54.91. The company has a market cap of $5.76 billion, a P/E ratio of 40.48, a price-to-earnings-growth ratio of 1.91 and a beta of 1.95. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.56 and a quick ratio of 1.19. The stock’s 50 day moving average price is $48.25 and its 200-day moving average price is $47.24.

AZEK (NYSE:AZEK) last announced its quarterly earnings results on Tuesday, February 4th. The company reported $0.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.14 by $0.03. AZEK had a return on equity of 13.47% and a net margin of 9.85%. As a group, equities analysts forecast that The AZEK Company Inc. will post 1.34 EPS for the current year.

Analysts Set New Price Targets

Several research firms have recently commented on AZEK. Citigroup upgraded AZEK from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $51.00 to $60.00 in a report on Monday, January 6th. BMO Capital Markets boosted their price objective on shares of AZEK from $52.00 to $54.00 and gave the company a “market perform” rating in a report on Thursday, February 6th. Benchmark restated a “buy” rating and issued a $55.00 price objective on shares of AZEK in a report on Thursday, November 21st. Barclays boosted their price objective on shares of AZEK from $58.00 to $64.00 and gave the company an “overweight” rating in a report on Wednesday, December 11th. Finally, Robert W. Baird boosted their price target on shares of AZEK from $54.00 to $58.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 5th. Four investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $54.85.

Hedge Funds Weigh In On AZEK

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AZEK. FMR LLC boosted its holdings in AZEK by 80.7% in the fourth quarter. FMR LLC now owns 12,311,577 shares of the company’s stock valued at $584,431,000 after purchasing an additional 5,499,986 shares in the last quarter. Wellington Management Group LLP boosted its holdings in AZEK by 33.8% in the third quarter. Wellington Management Group LLP now owns 14,224,410 shares of the company’s stock valued at $665,702,000 after purchasing an additional 3,595,863 shares in the last quarter. Norges Bank acquired a new stake in shares of AZEK in the fourth quarter valued at approximately $94,987,000. Balyasny Asset Management L.P. boosted its holdings in shares of AZEK by 493.6% in the fourth quarter. Balyasny Asset Management L.P. now owns 1,681,629 shares of the company’s stock valued at $79,827,000 after acquiring an additional 1,398,340 shares during the period. Finally, Arrowstreet Capital Limited Partnership boosted its holdings in shares of AZEK by 72.7% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,957,094 shares of the company’s stock valued at $92,903,000 after acquiring an additional 823,588 shares during the period. 97.44% of the stock is owned by institutional investors and hedge funds.

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.