Signaturefd LLC Raises Stake in The AZEK Company Inc. (NYSE:AZEK)

Signaturefd LLC boosted its holdings in The AZEK Company Inc. (NYSE:AZEK) by 32.7% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,157 shares of the company’s stock after purchasing an additional 532 shares during the quarter. Signaturefd LLC’s holdings in AZEK were worth $91,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in AZEK. Peregrine Capital Management LLC boosted its position in shares of AZEK by 1.3% in the 2nd quarter. Peregrine Capital Management LLC now owns 180,033 shares of the company’s stock worth $7,585,000 after purchasing an additional 2,347 shares in the last quarter. Panagora Asset Management Inc. boosted its holdings in AZEK by 131.6% in the second quarter. Panagora Asset Management Inc. now owns 413,387 shares of the company’s stock worth $17,416,000 after acquiring an additional 234,860 shares in the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd bought a new stake in AZEK in the second quarter worth $996,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of AZEK by 4.8% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 29,605 shares of the company’s stock worth $1,247,000 after acquiring an additional 1,348 shares during the last quarter. Finally, Breakwater Capital Group bought a new position in shares of AZEK during the second quarter valued at $209,000. Institutional investors own 97.44% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on AZEK. Royal Bank of Canada cut their price objective on shares of AZEK from $49.00 to $46.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Barclays reduced their price target on shares of AZEK from $58.00 to $52.00 and set an “overweight” rating for the company in a research report on Friday, July 12th. JPMorgan Chase & Co. lowered their price objective on AZEK from $52.00 to $48.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 13th. Robert W. Baird reduced their target price on AZEK from $60.00 to $58.00 and set an “outperform” rating for the company in a report on Thursday, May 9th. Finally, DA Davidson cut AZEK from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $57.00 to $44.00 in a research note on Wednesday, July 3rd. Five analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $48.24.

AZEK Price Performance

Shares of NYSE:AZEK opened at $41.34 on Wednesday. The company has a quick ratio of 2.11, a current ratio of 3.07 and a debt-to-equity ratio of 0.41. The stock has a market capitalization of $5.98 billion, a PE ratio of 40.53, a price-to-earnings-growth ratio of 1.32 and a beta of 1.88. The firm’s 50 day moving average price is $42.21 and its 200-day moving average price is $45.36. The AZEK Company Inc. has a twelve month low of $25.03 and a twelve month high of $50.78.

AZEK (NYSE:AZEK) last released its quarterly earnings results on Wednesday, August 7th. The company reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.06. The business had revenue of $434.40 million for the quarter, compared to the consensus estimate of $396.89 million. AZEK had a net margin of 11.35% and a return on equity of 13.38%. The company’s quarterly revenue was up 12.1% on a year-over-year basis. During the same period last year, the firm earned $0.29 earnings per share. Equities research analysts expect that The AZEK Company Inc. will post 1.05 EPS for the current year.

Insider Buying and Selling

In other news, Director Pamela J. Edwards bought 600 shares of the stock in a transaction that occurred on Thursday, August 15th. The shares were bought at an average price of $41.70 per share, for a total transaction of $25,020.00. Following the purchase, the director now owns 8,708 shares in the company, valued at $363,123.60. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Pamela J. Edwards acquired 600 shares of the business’s stock in a transaction on Thursday, August 15th. The stock was acquired at an average cost of $41.70 per share, with a total value of $25,020.00. Following the acquisition, the director now directly owns 8,708 shares in the company, valued at approximately $363,123.60. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Jonathan Skelly sold 12,000 shares of the company’s stock in a transaction on Tuesday, June 18th. The stock was sold at an average price of $46.72, for a total transaction of $560,640.00. Following the transaction, the insider now owns 190,134 shares of the company’s stock, valued at approximately $8,883,060.48. The disclosure for this sale can be found here. In the last ninety days, insiders sold 45,000 shares of company stock valued at $1,932,790. 3.10% of the stock is owned by corporate insiders.

About AZEK

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.