The AZEK Company Inc. (NYSE:AZEK) Short Interest Update

The AZEK Company Inc. (NYSE:AZEK) was the recipient of a significant drop in short interest during the month of August. As of August 15th, there was short interest totalling 6,590,000 shares, a drop of 5.0% from the July 31st total of 6,940,000 shares. Approximately 4.7% of the shares of the company are short sold. Based on an average daily volume of 2,140,000 shares, the days-to-cover ratio is currently 3.1 days.

Insider Buying and Selling

In related news, CEO Jesse G. Singh sold 13,000 shares of the company’s stock in a transaction on Wednesday, July 10th. The stock was sold at an average price of $41.75, for a total transaction of $542,750.00. Following the completion of the transaction, the chief executive officer now directly owns 1,024,444 shares in the company, valued at approximately $42,770,537. The sale was disclosed in a document filed with the SEC, which is available through this link. In related news, CEO Jesse G. Singh sold 13,000 shares of the stock in a transaction that occurred on Wednesday, July 10th. The stock was sold at an average price of $41.75, for a total value of $542,750.00. Following the completion of the transaction, the chief executive officer now directly owns 1,024,444 shares of the company’s stock, valued at approximately $42,770,537. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jonathan Skelly sold 12,000 shares of the firm’s stock in a transaction on Tuesday, June 18th. The shares were sold at an average price of $46.72, for a total value of $560,640.00. Following the transaction, the insider now directly owns 190,134 shares in the company, valued at $8,883,060.48. The disclosure for this sale can be found here. Insiders have sold 45,000 shares of company stock worth $1,932,790 over the last ninety days. 3.10% of the stock is owned by insiders.

Institutional Investors Weigh In On AZEK

Several hedge funds and other institutional investors have recently made changes to their positions in AZEK. Mercer Global Advisors Inc. ADV bought a new stake in shares of AZEK in the second quarter valued at approximately $86,719,000. Norges Bank bought a new stake in AZEK in the 4th quarter valued at $44,418,000. Corient Private Wealth LLC grew its position in AZEK by 1,339.0% in the 4th quarter. Corient Private Wealth LLC now owns 657,712 shares of the company’s stock worth $25,157,000 after purchasing an additional 612,005 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of AZEK by 66.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,466,145 shares of the company’s stock worth $73,631,000 after purchasing an additional 587,107 shares during the period. Finally, Lord Abbett & CO. LLC bought a new position in shares of AZEK during the 1st quarter worth about $26,360,000. 97.44% of the stock is owned by institutional investors and hedge funds.

AZEK Stock Down 3.0 %

AZEK stock opened at $41.34 on Wednesday. The company has a current ratio of 3.07, a quick ratio of 2.11 and a debt-to-equity ratio of 0.41. The firm has a market cap of $5.98 billion, a PE ratio of 40.53, a PEG ratio of 1.32 and a beta of 1.88. AZEK has a 1 year low of $25.03 and a 1 year high of $50.78. The company has a fifty day simple moving average of $42.21 and a 200 day simple moving average of $45.36.

AZEK (NYSE:AZEK) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $0.42 EPS for the quarter, beating the consensus estimate of $0.36 by $0.06. AZEK had a return on equity of 13.38% and a net margin of 11.35%. The company had revenue of $434.40 million for the quarter, compared to the consensus estimate of $396.89 million. During the same quarter last year, the company posted $0.29 earnings per share. The company’s revenue for the quarter was up 12.1% compared to the same quarter last year. Sell-side analysts anticipate that AZEK will post 1.05 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts recently issued reports on AZEK shares. DA Davidson lowered AZEK from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $57.00 to $44.00 in a report on Wednesday, July 3rd. Benchmark reiterated a “buy” rating and issued a $55.00 target price on shares of AZEK in a report on Friday, August 9th. Barclays reduced their target price on shares of AZEK from $58.00 to $52.00 and set an “overweight” rating for the company in a report on Friday, July 12th. Citigroup dropped their price target on AZEK from $50.00 to $44.00 and set a “neutral” rating on the stock in a report on Thursday, July 11th. Finally, UBS Group reduced their price objective on AZEK from $47.00 to $43.00 and set a “neutral” rating for the company in a research note on Thursday, August 8th. Five analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, AZEK currently has a consensus rating of “Moderate Buy” and an average target price of $48.24.

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.