The AZEK Company Inc. (NYSE:AZEK) Shares Sold by Alpha DNA Investment Management LLC

Alpha DNA Investment Management LLC reduced its position in shares of The AZEK Company Inc. (NYSE:AZEK) by 27.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,122 shares of the company’s stock after selling 3,472 shares during the period. Alpha DNA Investment Management LLC’s holdings in AZEK were worth $384,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of AZEK. Quadrant Capital Group LLC boosted its stake in AZEK by 45.9% during the fourth quarter. Quadrant Capital Group LLC now owns 728 shares of the company’s stock worth $28,000 after buying an additional 229 shares during the period. Tidal Investments LLC boosted its stake in AZEK by 3.7% during the first quarter. Tidal Investments LLC now owns 7,060 shares of the company’s stock worth $355,000 after buying an additional 251 shares during the period. Signaturefd LLC boosted its stake in AZEK by 32.7% during the second quarter. Signaturefd LLC now owns 2,157 shares of the company’s stock worth $91,000 after buying an additional 532 shares during the period. Treasurer of the State of North Carolina boosted its stake in AZEK by 1.0% during the fourth quarter. Treasurer of the State of North Carolina now owns 58,496 shares of the company’s stock worth $2,237,000 after buying an additional 570 shares during the period. Finally, ORG Partners LLC purchased a new position in AZEK during the first quarter worth about $35,000. 97.44% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Jesse G. Singh sold 20,000 shares of AZEK stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $41.47, for a total value of $829,400.00. Following the transaction, the chief executive officer now directly owns 186,705 shares of the company’s stock, valued at approximately $7,742,656.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Pamela J. Edwards acquired 600 shares of the stock in a transaction that occurred on Thursday, August 15th. The shares were purchased at an average cost of $41.70 per share, for a total transaction of $25,020.00. Following the transaction, the director now directly owns 8,708 shares in the company, valued at approximately $363,123.60. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jesse G. Singh sold 20,000 shares of AZEK stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $41.47, for a total transaction of $829,400.00. Following the completion of the transaction, the chief executive officer now owns 186,705 shares in the company, valued at $7,742,656.35. The disclosure for this sale can be found here. Corporate insiders own 3.10% of the company’s stock.

AZEK Stock Down 2.3 %

AZEK stock opened at $45.67 on Thursday. 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 AZEK Company Inc. has a twelve month low of $25.03 and a twelve month high of $50.78. The company’s 50 day moving average is $42.73 and its two-hundred day moving average is $44.97. The stock has a market cap of $6.61 billion, a P/E ratio of 44.77, a PEG ratio of 1.43 and a beta of 1.87.

AZEK (NYSE:AZEK) last announced its earnings results on Wednesday, August 7th. The company reported $0.42 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.06. The business had revenue of $434.40 million for the quarter, compared to analysts’ expectations 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 in the previous year, the company posted $0.29 EPS. Research analysts expect that The AZEK Company Inc. will post 1.05 earnings per share for the current fiscal year.

AZEK declared that its board has authorized a share repurchase plan on Monday, June 17th that permits the company to repurchase $600.00 million in outstanding shares. This repurchase authorization permits the company to repurchase up to 9.7% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on AZEK shares. DA Davidson lowered shares of AZEK from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $57.00 to $44.00 in a research note on Wednesday, July 3rd. Loop Capital lowered their price objective on shares of AZEK from $58.00 to $52.00 and set a “buy” rating for the company in a research note on Thursday, July 11th. Royal Bank of Canada lowered their price objective on shares of AZEK from $49.00 to $46.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Barclays lowered their price objective on shares of AZEK from $58.00 to $52.00 and set an “overweight” rating for the company in a research note on Friday, July 12th. Finally, BMO Capital Markets lowered their price objective on shares of AZEK from $50.00 to $46.00 and set a “market perform” rating for the company in a research note on Friday, August 9th. Five equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, AZEK 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.